MANILA, Philippines — Retaining its lead in the distilled spirits segment in Visayas and Mindanao, Tanduay Distillers Inc. widened its nationwide market last year from 26.6% to 30.7% despite an increase in prices.
In a news release on Monday, Tanduay president and COO Lucio Tan III credited the improvement to increased demand for ready-to-drink alternatives due to COVID-19 lockdowns and online purchasing of alcoholic beverages.
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"With the help of the management and marketing teams, we were able to bring Tanduay to more people. Our research and development team, meanwhile, have been instrumental in our introduction of products to meet new market demands,” Tan said.
The widened customer base was not hampered by an average of 12% price increase TDI has implemented over the past year.
While it trails competitors in Luzon with its below-1% market share, it kept its dominant numbers in Visayas and Mindanao in 2022, registering 68.9% and 79.4%, respectively.
The company also relied on European markets where it distributes products in Poland, Austria, the United Kingdom, Georgia, Armenia, Belgium, the Netherlands and Luxembourg. It added Australia and Canada to its portfolio last year.
Tanduay is the oldest among the LT Group's subsidiaries, carrying a 99% share in the rum segment in the Philippines. It is also recognized as the world's best-selling rum brand.
In 2021, the company entered the gin market with the rollout of Ginto barrel-aged gin and Barman cocktail range under the leadership of magnate Lucio Tan's grandson, Lucio Tan III.