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Brewery beer among best-known brands
Yudong Silica   2014-06-25 06:38:57 Author:Xie Chuanjiao Source:China Daily Font size:[Large][Middle][Small]

Tsingtao is a beer but also a lifestyle for the people of Qingdao. The brew is deeply rooted in the local culture and has become a symbol of the city. Locals love it so much that they run home after buying fresh takeaway beer in polythene bags from street vendor's kegs.

Founded in 1903 by German and British settlers of the seaside city, Tsingtao beer is now top Chinese brand known around the world. The drink represents the hospitality of local residents, which they call Tsingtaoism. Hollywood blockbuster Mummy: The Tomb of the Dragon Emperor used Tsingtao in a scene that depicted the streets of old Shanghai and the brand's cheerleaders entertained audiences at NBA arenas.

Tsingtao's net profit increased to 585.7 million yuan ($93.6 million) in the first quarter of 2014, up 17.4 percent year-on-year, according to the company's recent results statement. The company's global sales volume reached 8,700,000 kiloliters in 2013. According to the authoritative beer industry compilation the Barth Report, Tsingtao is the sixth largest brewery worldwide in terms of production. As of the end of 2013, Tsingtao Brewery owned 54 brewing subsidiaries and 11 jointly run breweries in 20 provinces, municipalities and regions of China.

Last year marked the 20th anniversary of Tsingtao Brewery becoming a listed company. Its stock prices hit a record high both in China A-Shares and H-Shares in 2013, according to the company's report. Tsingtao Brewery is taking the lead in elevating the brand recognition of the "made in China" beer on the international stage.

Jean-Claude Larreche, professor of graduate business school INSEAD, in France, said "made in China" brands can be associated with cheap products. However more and more Chinese brands, including Air China, Lenovo, and Tsingtao, are becoming more accepted for their quality in the global market.

Tsingtao Brewery, valued at nearly 80.585 billion yuan, was ranked first among Chinese beer brands, according to the list of the Top 500 Most Valuable Chinese Brands 2013. As the earliest Chinese brand to enter the international market, Tsingtao Brewery has topped the list of export volume among Chinese breweries. Tsingtao beer is sold in more than 85 countries and regions, including the United States, Canada, Britain, France, Germany, Italy, Australia, South Korea and Japan. In 2013, Tsingtao's sales volume continued to rise in the mainstream market channels. In Britain this included a 40.1 percent growth at Tesco and 44.7 percent growth at Waitrose. The beer also saw 20 percent year-on-year growth in North Europe. There was a sharp increase in emerging markets as well. Sales jumped by a whopping 95 percent in Africa and 76 percent in East Europe. Tsingtao's combined sales volume in the Asia-Pacific markets grew by 27.4 percent. Sales surged by 65 percent in South Korea and the beer had 10 percent year-on-year growth in Hong Kong, where it has become the second largest brand. Its market share in Macao also exceeded 60 percent.

 
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