Diageo to raise Scotch, Tequila prices in Korea [Yahoo! Finance]
Diageo plc (DEO)
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Source: Yahoo! Finance
The hikes will affect Tequila brand Don Julio's blanco, reposado and anejo, Scotch whisky Mortlach and single-malt Scotch brand, Copper Dog. It follows falling whisky sales in Asia for the drinks major, which rolled out a voluntary retirement programme for employees in South Korea earlier this year. At the time, a Diageo spokesperson told Just Drinks South Korea was still a “strategically important market” and it remained “fully committed to the Korean market”. It said the programme aimed to make the subsidiary “relevant and purposed-led” for the future. In the group's half-year results for the six months ended 31 December 2023, Diageo's business in north Asia, comprising South Korea and Japan, saw net sales decline 6%. The fall was attributed to falling sales of Scotch, namely Johnnie Walker Black Label and White Horse. The Guinness brand owner highlighted the decline followed “strong” growth in the same six-month period the previous year as the business benefitted from th
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