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Campari signs MoU with China's Wuliangye for strategic cooperation

Reuters
·1-min read
FILE PHOTO: Bartenders pour drinks at a Campari inauguration of a new brand house for Aperol, its best-selling beverage, in Venice, Italy

MILAN (Reuters) - Italian spirit group Campari and Chinese group Sichuan Yibin Wuliangye, known for the Chinese liquor baijiu, have signed a memorandum of understanding for strategic cooperation, they said on Friday.

"The two groups will collaborate in areas such as new product co-creation, channel expansion, strengthening marketing cooperation, and promoting brand culture to support the joint development of both parties in domestic China and the international spirits market", the companies said in a statement.

Campari's sales in the Asia Pacific market currently counts for around 7% of the group's total revenues.

(Reporting by Elisa Anzolin, editing by Gavin Jones)