TANDUAY Distillers, Inc. (TDI) is expanding its international footprint as it enters Singapore through a partnership with an alcoholic and non-alcoholic beverage distributor.
In a statement yesterday, the Lucio C. Tan-led rum manufacturer said it has sealed a deal with Singapore’s Octopus Distribution Networks Pte Ltd. to bring its products to the country.
“We are glad to finally make our products available to our kababayans in Singapore and at the same time introduce them to the Singaporeans,” Tanduay President and Chief Operating Officer Lucio K. Tan, Jr. was quoted as saying in the statement.
“Partnering with the Octopus Group is part of our effort to bring Tanduay to the global market,” he added.
TDI’s international network currently covers United States of America, Germany, China, United Arab Emirates, Guam and Australia. In 2018, the company said it wanted to expand its rum exports in the near term.
Since 2017, TDI said its export business has been recording a two-year compound annual growth rate of 86.25%.
The company had been aggressive in marketing its international presence by partnering with National Basketball Association (NBA) teams Golden State Warriors and Brooklyn Nets. It also sponsors the annual American television awards show Emmy Awards.
In the first half of 2019, TDI recorded a net income of P380 million, 13% lower from a year ago due to higher operating expenses. — Denise A. Valdez