Last week Kweichow Moutai overtook Johnnie Walker-maker Diageo (DEO, -0.64%)as the wold’s most valuable liquor maker. Now the Chinese distiller is looking to steam further ahead: targeting 15% revenue growth this year.
The market for baijiu, the hugely popular Chinese grain liquor, is worth $115 billion in total. Its leading producer Moutai’s market value comes in at $72 billion, Bloomberg reports.
Moutai’s 2017 revenue growth goals—which incorporate a volume sales target of 50,000 tons of liquor, according to a company statement—are bolstered by indications that Chinese consumer preferences are shifting to more expensive drinks.
