Campari Group Opens Operating Company Here to Tap Apac Market

It hopes to capitalize on Singapore's affluent consumers and developed bar scene

- Alyssa Woo

The high-net-worth crowd in Singapore makes up a third of Campari Group's business here, with its appetite for ultra-premium whisky, cognac, bourbon, and the like, according to the group's Asia-Pacific (Apac) managing director.

"These are people who are either collectors (or are buying for) very special gifting. They look for products that one can't find anywhere else," said Mr Matthijs Kramer.

Selling premium alcohol directly to individuals is not something Campari does in many markets, he said. But it is something it is keen to do here as these wealthy individuals are seen as influential tastemakers in the region.

Even though Singapore is admittedly a small market for the group, he sees big opportunities for its entire portfolio of premium spirits and alcohol. This led Campari to "over-invest" by opening its own operating company here in January.

Reasons that Mr Kramer cited were the city's constant good weather, affluent and sophisticated consumers, and a very developed bar and restaurant scene with good bartenders.

"If we are big enough in a market to have our own sales organization, our own marketing organization, then we always go quite quickly in establishing... what we call our in-market company, our own operating company," he said.

Data analytics firm Euromonitor International forecasts consumers in Singapore to splash out US$11.2 million (S$15.2 million) on luxury spirits in 2028.

While it is a mere drop in the ocean compared with Apac's US$166.9 billion expected expenditure in this area the same year, consumers in Singapore and Asia are getting more sophisticated and are choosing quality over quantity.