Diageo: creation of an R&D centre in Shanghai
(CercleFinance.com) - Diageo today announced the establishment of a new research and development centre in Shanghai to further its product innovation and development ambitions in China.
The state-of-the-art facility - the first of its kind in the beverage alcohol sector in Shanghai - will primarily support the China market and will strengthen Diageo's ability to rapidly innovate and develop premium products that cater to Chinese consumer tastes.
“Today's announcement is another key step in our transformational journey to invest and deliver growth in a fast-moving and highly competitive market,” said Sam Fischer, President Asia-Pacific and Global Travel. “China's total beverage alcohol market is the largest in the world in both value and volume terms, and is expected to grow over the next five years.”
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