British American Tobacco is looking to launch brands new to the Philippines as part of efforts to increase its market share in that country, according to a story in The Philippine Star.
Currently, the company makes only modest sales of Lucky Strike in the Philippines, but it has plans to probe the market further following the passage of the sin tax bill, which is seen as having levelled out a competitive playing field previously skewed against new brands.
BAT Philippines general manager, James Lafferty, was quoted as saying the introduction of new-to-the-market products, including possibly a ‘low-tier’ one, was part of BAT’s commitment to invest about $200 million in the Philippine market over five years following the passage of the sin tax bill.
Lafferty said the group was mulling the establishment of a manufacturing plant in the country, but added that nothing had been finalized.
“We’re certainly committed to stay,” he said. “We’re investing full speed ahead. The $200 million investment could even go up should we decide to put up a manufacturing facility here.”
Category: Breaking News