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Business News: KalashnIkov vodka guns for expansion
Kalashnikov vodka is looking to raise £1m of growth capital. The Joint Stock Vodka Company, which launched its flagship Kalashnikov Vodka in September 2004, will use the monies raised to fund international growth and expansion as well as launching new vodka products.
In 2005, Kalashnikov Vodka was obliged to change its name in the UK following complaints by The Portman Group. The body was concerned that the brand evoked images of the AK-47 assault rifle and therefore suggested violent and dangerous behaviour. (The company’s honorary chairman, General Kalashnikov designed the rifle while he was a small arms designer for the Red Army).
Kalashnikov Vodka is targeting the developed markets of the US, western Europe and the Far East, while AK 47 – The Freedom Vodka, will be aimed at emerging markets such as Brazil, South Africa, India, China and Eastern Europe, where it may be licensed for local bottling and production.
© db September 2006