Published Date : Nov 23, 2015
A company executive has said that Heineken has immense potential for growth and expansion in the Mexican market.
President of Heineken Americas Marc Busain said that even though Heineken is already in the second place in Mexico, the US, and Canada, there is still scope for growth. Speaking at a recent seminar called ‘What’s Brewing’, Busain added that one of the areas that hold particularly promising prospects is Mexican beer.
The Mexican brands of Heineken such as Dos Equis and Tecate have witnessed an annual growth of 6.5 per cent in the US during the period of 2010 to 2014. These brands helped the company recover in the American region after a rough period and Busain is certain that the upward trajectory of these brands can continue, with Tecate having especially huge potential all over the world.
Heineken, since 2008, has been adversely affected owing to the recession in the United States, Busain said. The turnaround in this situation can be attributed to Mexico, since the rising premium market has supported the company is gaining a 52 per cent annual growth in the nation during the period of 2010 to 2014.
Eyeing a chance for even more development, Busain said that the premium segment holds exciting potential.
As far as Mexico is concerned, Tecate has played a vital role in the growth of the company and Busain said that it had emerged as the most preferred brand of beer in the nation. Even though it is not the largest beer brand, Busain added that this preference had gone a long way in supporting a 6 per cent revenue increase per year and this brand has also kept the profit growing from 2010 to 2014 at a 20 per cent annual rate.