Lotte takes Svedka into South Korea
Constellation Brands has appointed Lotte Liquor as the exclusive importor and distributor for Svedka vodka in the fast-growing South Korean drinks market.
Lotte’s leading brand is a soju called Chum Churum, which means “like the first time”, and the company is South Korea’s second largest producer of soju after Jinro.
Lotte also imports and distributes wine.
Although South Korea is primarily a market for soju and Makgeolli (a rice wine), western spirits brands are expected to increase their share of the market in the next five years according to Euromonitor International.
Speaking of the tie-up, Jake Jacob, vice president for Asia at Constellation Brands said, “This partnership is a key landmark in our overall spirits strategy throughout Asia.
“We are delighted to be partnering with Lotte and ogether we will develop the footprint and profile of the Svedka vodka brand in South Korea, which is a key market for us,” he added.
Svedka is the second largest imported vodka in the US, according to Constellation.