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Brown-Forman Strikes Deal in Japan, Shares Slump
Brown-Forman Corporation (NYSE: BF.A), one of the largest American-owned spirits companies, is launching its own distribution business in Japan today, bringing the distribution in-house for the first time since the company entered the market in the 1970s. The new Brown-Forman Japan office opened in the city center of Tokyo at the end of 2023.
“With our dedicated team in place and our new and inspiring headquarters in the heart of Tokyo, we are ideally set up to further the growth of our brands in Japan across all channels,” said Aaron Martin, VP, General Manager, Brown-Forman Japan.
Japan is one of the world's largest premium and super premium whiskey markets with Jack Daniel's, the world's most valuable spirits brand, leading the premium whiskey category in Japan (IWSR 2022).
“Japan is an important market as we drive the growth of our Jack Daniel's family of brands, Woodford Reserve, and our broader super premium portfolio. The significant expansion of our own Brown-Forman Japan organization and capabilities reflects our strong belief in the immense potential of the Japanese market,” said Ricardo Cupido, VP, Managing Director, Brown-Forman Asia.
Brown Forman directly sells its brands in key global markets, including Taiwan, Thailand, and South Korea in the Asian region.
BFA shares dropped 40 cents to $52.55.
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