Sales in China of Taiwan Beer, a brand owned by state-owned Taiwan Tobacco and Liquor Corp (TTL, 台灣菸酒公司) are expected to account for 1 percent of China’s beer market and reach NT$30 billion (US$920 million) in somewhere between three and five years, TTL chairman Duan Wei (韋伯韜) said yesterday.
In a legislative question-and-answer session, Wei told legislators that the company estimated sales of Taiwan Beer in China would reach NT$200 million this year and NT$1.5 billion next year.
If that happens, he said, the company’s return on an investment of NT$260 million in sponsoring the 16th Asian Games to be held in Guangzhou in November next year will be realized by that time.
TTL has been named as the official “Bear Partner” of the Games.
Wei also rebutted media speculation that the company had invested NT$400 million in the Games.
If the goal of NT$30 billion in sales is reached, Wei said, the company could make a profit of NT$4.5 billion, which he said would create 1,000 jobs in Taiwan.
China consumes about 113 billion liters of beer annually, Wei said.
Therefore, if Taiwan Beer can take 1 percent of market share, this would be equivalent to Taiwan’s annual beer consumption, he said.
Wei also promised to resign if the goal is not reached.