Think that state-owned Taiwan Tobacco and Liquor Corp (
The nation's largest alcohol-beverage producer yesterday showed its determination to change its stodgy image as it embarked on an attempt to capture more of the extensive youth market.
"We must pay attention to the younger generation by offering them healthy and fresh drinks," Taiwan Tobacco chairman Morgan Hwang (
The former state-run Taiwan Tobacco, corporatized in July 2002, is taking a vigorous approach to marketing its "Gold Medal Taiwan Beer," which was rolled out in April last year and targeted at young people.
Taiwan Beer products account for 82.7 percent of the nation's beer market, which was worth NT$27 billion last year, followed by China'sTsingtao Beer's with an 8 percent share, Taiwan Tobacco's vice president Martin Tsai (蔡木霖) said.
Its market share has recovered after dropping to a low of 74 percent when Tsingtao Beer entered the local market in 2002.
As the boom season for beer is approaching, the company is stepping up its promotion of Gold Medal, hoping to help raise its annual revenues by 10 percent to NT$24.5 billion.
"We're confident that we'll reach the goal," Tsai said.
One of its new strategies is to ally with Drinks Wines & Spirits Co (橡木桶洋酒), the nation's largest retailer of imported wines and spirits -- with 30 outlets nationwide -- to push Gold Medal.
"It's the first time that we have local beers displayed in our outlets," said the retailer's president Roger Chen (陳春安).
Until the end of August or -- depending on the weather -- September, a 0.6-liter bottle of Gold Medal will be given away free for each bottle of imported alcohol bought at a Drinks Wines & Spirits Co outlet.
Chen said his company is prepared to give out 100,000 bottles of Gold Medals.
In an effort to cash in on the charisma of pop idols, Taiwan Tobacco has approached a male singer to serve as Gold Medal's exclusive spokesman and new TV commercials will be released next month, Tsai said.
"But we'll still have rock star Wu Bai (伍佰) in our ad campaigns because half of our customers are aged between 35 and 49," Tsai said.
The company began dispatching 166 "Taiwan Beer Girls" to hawk Gold Medal beer in restaurants, starting last Saturday. It is also looking to break into the club market, where Heineken suppliers usually give good deals to pub owners.
Three experts in the high technology industry have said that US President Donald Trump’s pledge to impose higher tariffs on Taiwanese semiconductors is part of an effort to force Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) to the negotiating table. In a speech to Republicans on Jan. 27, Trump said he intends to impose tariffs on Taiwan to bring chip production to the US. “The incentive is going to be they’re not going to want to pay a 25, 50 or even a 100 percent tax,” he said. Darson Chiu (邱達生), an economics professor at Taichung-based Tunghai University and director-general of
Hon Hai Precision Industry Co (鴻海精密) is reportedly making another pass at Nissan Motor Co, as the Japanese automaker's tie-up with Honda Motor Co falls apart. Nissan shares rose as much as 6 percent after Taiwan’s Central News Agency reported that Hon Hai chairman Young Liu (劉揚偉) instructed former Nissan executive Jun Seki to connect with French carmaker Renault SA, which holds about 36 percent of Nissan’s stock. Hon Hai, the Taiwanese iPhone-maker also known as Foxconn Technology Group (富士康科技集團), was exploring an investment or buyout of Nissan last year, but backed off in December after the Japanese carmaker penned a deal
‘LEGACY CHIPS’: Chinese companies have dramatically increased mature chip production capacity, but the West’s drive for secure supply chains offers a lifeline for Taiwan When Powerchip Technology Corp (力晶科技) entered a deal with the eastern Chinese city of Hefei in 2015 to set up a new chip foundry, it hoped the move would help provide better access to the promising Chinese market. However, nine years later, that Chinese foundry, Nexchip Semiconductor Corp (合晶集成), has become one of its biggest rivals in the legacy chip space, leveraging steep discounts after Beijing’s localization call forced Powerchip to give up the once-lucrative business making integrated circuits for Chinese flat panels. Nexchip is among Chinese foundries quickly winning market share in the crucial US$56.3 billion industry of so-called legacy
WASHINGTON POLICY: Tariffs of 10 percent or more and other new costs are tipped to hit shipments of small parcels, cutting export growth by 1.3 percentage points The decision by US President Donald Trump to ban Chinese companies from using a US tariff loophole would hit tens of billions of dollars of trade and reduce China’s economic growth this year, according to new estimates by economists at Nomura Holdings Inc. According to Nomura’s estimates, last year companies such as Shein (希音) and PDD Holdings Inc’s (拼多多控股) Temu shipped US$46 billion of small parcels to the US to take advantage of the rule that allows items with a declared value under US$800 to enter the US tariff-free. Tariffs of 10 percent or more and other new costs would slash such