Pernod pledges brand innovation
Pernod Ricard has put a trio of brands and a raft of new products at the centre of its growth strategy. UK managing director Denis O’Flynn told OLN it would launch two spirits and a pair of wines within the next year after identifying gaps in the market.
The company has also singled out three brands – Jameson, Campo Viejo and Chivas Regal – that will become key drivers and see additional investment to accelerate their growth.
He said: “Our portfolio remains our key plank and we will continue to exploit it, but we will bring new offerings to the market.
“We have three of four spirits that I know would work but want to keep it focused. If you let all the children out to play at the same time, it’s chaos.
“We are looking at two spirits and two wines which will be new to market. In some categories, there are some competitors who have it to themselves and I want to challenge them.
“We have also highlighted Jameson, Campo Viejo and Chivas Regal and will be investing disproportionately in them as I think they have the best opportunity to break out of the pack and become power brands.”
O’Flynn also wants Pernod Ricard to upweight its digital presence from the use of social media to link-ups with supermarket websites to sell its brands.
He added: “Digital is very broad. To me it means any platform that isn’t paper-based. I don’t think anyone has got to grips with digital, and we are going to be the leaders.
“Innovation isn’t all about new product development, it’s also about how you go about business.
“We are moving from a brand-led to a brand experience business. The opportunity for digital is how you amplify having 250 consumers at a brand experience to a wider audience.
“We are also engaging with grocers about online at the highest level.
“They are all investing in their sites and we are also doing the same, so it’s about how we can get more bang for our buck.”