East Imperial (EISB ), producer of ultra-premium beverages, announced the appointment of SUTL Group as its exclusive distribution partner in Vietnam. Under the terms of the contract, SUTL will supply East Imperial's entire range throughout Vietnam.
The agreement builds on East Imperial's existing contract with SUTL for distribution in Singapore, as well as 2 other distribution deals in APAC, with Leung Yick in Hong Kong and Wen Hua Hang Wine Spirits Company (WHI) in China.
SUTL has over 50 years of experience in distribution in 18 markets across Asia. It has helped grow brands such as Jack Daniels, Jim Beam, Johnnie Walker, and Fiji Water, which are now widely known throughout APAC.
Tony Burt, CEO & Founder of East Imperial, commented:"Today's announcement represents another important milestone for East Imperial. The partnership with SUTL offers a fantastic opportunity to develop our presence in Vietnam's premium beverage market and secure market share in this valuable region.
Vietnam is among the leading international destinations for tourists, and I am incredibly excited to bring our products to discerning consumers throughout the country. I am also delighted to continue our relationship with SUTL, whose depth of expertise and extensive distribution network provides us with the best platform to achieve our retail ambitions in Vietnam."
View from Vox
East Imperial continues its expansion in APAC with another milestone contract, this time targeting the valuable Vietnamese market. Vietnam's luxury hotel and high-end tourism market has seen incredible growth recently with 100 hotel projects currently under construction in the country, and international arrivals expected to surpass pre-pandemic levels in 2024.
SUTL already supplies East Imperial's product range in Singapore, which along with other recent agreements in China and Hong Kong, has accelerated EISB's sales in APAC. The region now accounts for c. 60% of East Imperial's sales, and has become the cornerstone of the company's short to medium-term revenues. With Covid restrictions easing in APAC, the trend is expected to continue.
Still, EISB's US business has seen impressive growth as well, with existing US clients including the Peninsula hotels in Beverley Hills and Chicago, Faena Hotel in Miami Beach, and Mondrian South Beach in Miami. The company saw a 132% increase in US year-on-year revenues in 1H22, and its recently announced partnership with The Lion Brewery, a veteran in the US bottling industry, will only accelerate that growth further.
EISB shares rose 12% in London on today's news, following a 20% jump two weeks ago on the agreement with the Lion Brewery in the US. EISB shares are now up 42% in the last month as markets continue to cheer the company's aggressive expansion across its 2 key markets.
Looking ahead, prospects for East Imperial remain strong with on-premise and off-premise business steadily growing in the US and APAC in 1H22, and even better trading expected in the traditionally stronger 2H and into 2023.
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