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News
MMI boosts African presence
Maritime Mercantile International (MMI) has announced a “strategic partnership” with leading Ethiopian drinks distributor Edouard Garabedian to bolster future growth in the African country.
Both companies are the leading wine and spirits distributors in their respective markets of the Gulf and Ethiopia and MMI is keen to gain a foothold in the latter which is pegged to be one of the “markets of the future” according to Euromonitor.
The Ethiopian market is reportedly experiencing an “exciting growth trajectory” at present, thanks to an improving economy and a “rapidly developing” infrastructure; with new hotels and restaurants leading, in turn, to growth in imported wines and spirits.
The new partnership is designed to provide a, “strong platform to capitalise on and further develop Ethiopia’s growth, by marrying Edouard Garabedian’s outstanding local knowledge, reputation and in-market capability with MMI’s proven track record in accelerating growth, premium brand, retail, category development and best-in-class logistics infrastructure.”
MMI’s COO, Iain Delaney, commented: “We are delighted to be formalising our association with Edouard Garabedian – a company with a proud history, heritage and proven track record. Ethiopia, and the wider region, is reaching an exciting point in the development of the imported alcoholic beverage category and the future growth outlook is strong.
“The combination of the Garabedian team’s in-depth local knowledge and outstanding portfolio – both built over many decades – and MMI’s international experience and infrastructure provide a strong platform to deliver accelerated growth in an already fast developing market”.
Edouard Garabedian’s director, David Garabedian, added: “We are excited to be working with MMI and to be exploring new ways to help fuel our and our brand owner’s growth in Ethiopia. We have 60 years’ experience in this market and continue to plan for the long term. Utilising MMI’s knowledge and regional infrastructure there is no doubt we will realise faster growth and further consolidate our leadership position in the market.”