Budweiser Brewing Co APAC , Asia's largest beer company by sales, said on Thursday it will expand into more Chinese cities with its premium products as it sees a rebound in demand after the country lifted its COVID-19 curbs.
Cans of Budweiser beer are displayed amid others on a supermarket shelf in Shanghai, China February 24, 2022. REUTERS/Aly Song/File Photo, Asia's largest beer company by sales, said on Thursday it will expand into more Chinese cities with its premium products as it sees a rebound in demand after the country lifted its COVID-19 curbs.
In December, China suddenly dropped its strict three-year-old zero-COVID policy, which had battered business at bars and restaurants, where Budweiser does a disproportionate share of its sales. Budweiser said its overall China volumes fell 3% last year, and its market share shrank by 44 bps. " this quarter we really see strong signals for recovery in the market which is fully opening," Jan Craps, co-chair and chief executive of Budweiser APAC, said in an interview after the company reported annual results.
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