Thailand: Thai Asia Pacific Brewery launches its new beer brand called Cheers
Thai Asia Pacific Brewery Co (TAPB), the Thailand brewer of the Heineken brand, launched on September 28 a new brand called Cheers, challenging Leo and Chang in the economy segment of the beer market. Cheers complements a beer portfolio that now consists of Heineken as its premium brand and Tiger for the middle market, according to Bangkok Post. The company is aiming to capture a 15% share of the total beer market, worth about 82 billion baht in 2004, over the next three years. (1 US$ = 41.08 TBH as of 30.09.2005)
Panya Pongtanya, the company's general manager, said the brewery had set a three-year plan which targeted for Cheers to gain a 5% share of the total beer market, with Heinken capturing 8% and Tiger 2-3%.
Currently, Chang is the market leader with a 56% share followed by Leo with 20%, Singha with 9-10% and Heineken with 7-8%. The budget-priced beer segment accounts for 79% of the total market.The beer market has hit a rough patch in terms of growth due to the slowing economy and an anti-alcohol campaign launched by the government.
It is expected to expand only about 1% this year after flat growth in the previous two years.
Cheers beer will be sold in the retail market at a cost of 35 baht for a 640ml bottle and 20 baht for a 330ml can.
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