Published on Wed, Sep 06, 2006 at 20:09 | Source : Moneycontrol.com
Updated at Wed, Sep 06, 2006 at 21:44
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Mallya eyeing China
Liquor baron Vijay Mallya is finally on his way to China. He will set up a subsidiary there to distribute his products. That's after months of working to acquire a Chinese firm, reports CNBC-TV18
Vijay Mallya is keen to take a little Indian spirit to China. He will set up a subsidiary to market United Spirits products. UB officials say the company has been receiving inquiries about its products from China and is looking for domestic partners to distribute its products. UB plans to start selling them in the next three months. And then introduce Kingfisher beer.
"I have given instruction to set up an office there. I have identified the manager.This will be our first foray into China and I will look at this market now," said Vijay Mallya Chairman at UB group.
The Chinese subsidiary will also look for acquisition opportunities. For about a year now, Mallya has wanted a Chinese acquisition. And now he believes this greefield entry will facilitate that inorganic growth.
The Chinese consumer drinks more than 200 million cases of liquor a year, far more than the 135 million consumed in India. Mallya believes there's room to get China a drink.
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"I have given instruction to set up an office there. I have identified the manager.This will be our first foray into China and I will look at this market now," said Vijay Mallya Chairman at UB group. 
