Edrington and FIX Wines and Spirits launch new venture for Middle East, Gulf and North Africa
Edrington, the international premium spirits company, and FIX Wines and Spirits Ltd recently launched Edrington FIX, a joint venture to distribute spirits to growing markets in the Middle East, the Gulf and North Africa (MENA).
In a separate announcement, Edrington has also said that it will establish wholly owned marketing and distribution companies in the USA and South East Asia. Collectively the three markets currently account for 26% of Edrington’s total sales.
FIX was formed in 2005 to focus on the sales, marketing and distribution of premium spirits across the Middle East and Africa, and the two companies have worked together in the MENA region for five years. Igor Boyadjian, one of the original founders and current Managing Director of FIX will continue to act as Managing Director of the newly formed Edrington FIX operation, and will be based in Dubai with support functions in Cyprus.
Edrington FIX launches operations on August 1, 2013. This is the latest in a series of initiatives to develop Edrington’s business in new and expanding markets. It follows the creation of Edrington Africa, which will focus on markets in sub-Saharan Africa.
“We have been impressed by the expertise of Igor and his team over the last five years,” said Stewart MacRae, Edrington’s Regional Managing Director for Russia, emerging Europe, Middle East and Africa. “During that time, Edrington brands have grown at double the rate of the category in the region, and we are delighted to be working more closely with FIX to generate even greater success in the Middle East.”
Edrington FIX aims to establish the most agile, professional and deep-rooted organization in the MENA region, with a strong focus on key cities and an ambitious travel retail strategy, particularly with Dubai Duty Free, the world’s largest duty free operator. Edrington FIX will also explore emerging opportunities in less developed markets with the aim of establishing a targeted presence for its core brands.
Igor Boyadjian, Managing Director of Edrington FIX, said: “I’m delighted to establish this new venture and extend our long term relationship. The two organizations share similar values and a vision for our brands. Combining FIX experience and market knowledge with Edrington’s strength and resources enables us to build Edrington’s brands and those of our partners.”