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Bartenders pour drinks at a Campari inauguration of a new brand house for Aperol, its best-selling beverage, in Venice. Italy, August 30, 2021. REUTERS/Manuel Silvestri/File Photo Acquire Licensing Rights
MILAN, Nov 24 (Reuters) – Italian spirit group Campari (CPRI.MI) and Chinese group Sichuan Yibin Wuliangye, known for the Chinese liquor baijiu, have signed a memorandum of understanding for strategic cooperation, they said on Friday.
“The two groups will collaborate in areas such as new product co-creation, channel expansion, strengthening marketing cooperation, and promoting brand culture to support the joint development of both parties in domestic China and the international spirits market”, the companies said in a statement.
Campari’s sales in the Asia Pacific market currently counts for around 7% of the group’s total revenues.
Reporting by Elisa Anzolin, editing by Gavin Jones
Our Standards: The Thomson Reuters Trust Principles.
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