The Welsh Dragon has been welcomed in by the Chinese Dragon.
Penderyn Distillery has struck a major multimillion deal with a Hong Kong Distributor Port Union and its mainland China subsidiary, Yantai Hongyu Liquor Co. Ltd., for a mixture of branded product and non-branded.
This is the first time The Welsh Whisky Company, Penderyn Distillery, which exports to over 50 countries, has struck such a deal in China.
China is expected to become Penderyn’s best export partner over the next three years.
Penderyn is supported in the region by the ‘Mr Asia’ whisky expert Mr Ian Chang ex head distiller and blender at Kavalan Taiwan.
Asia represents the most significant export opportunity for Penderyn as its the fastest growing territory worldwide for Single Malt Whisky.
Asia is estimated to be growing at CAGR of 5.25% to reach USD 2.4 billion by 2026.
Penderyn tested its Asia Pacific focused, ‘Wales – New Zealand of the North’ campaign in New Zealand earlier this year. This has started rolling out in Taiwan and Australia.
In 2020, the UK Foreign Secretary announced a Welsh-Japan trade deal, which included Penderyn Distillery.
Also, Penderyn are 32% up year on year in terms of trade with France, its biggest export country, largely to due its close collaborations with Welsh rugby.
Wales qualifying for the World Cup is another significant opportunity with Penderyn working on collaborations with Welsh football.
Stephen Davies, CEO of Penderyn Distillery says: “We are pleased to be making significant progress building our brand in Asia and in China and Taiwan in particular. We see a lot of discerning and premium malt whisky drinkers in both these markets”.