VIENNA (Reuters) - Red Bull is planning to launch its best-selling energy drink in China after gaining the necessary permissions, and is building an office in Shanghai, Austria’s Kronen Zeitung reported.
The newspaper cited the Austrian company - whose activities span extreme sports sponsorship, Formula One motor racing and media - as confirming the move.
“The aim is a selective distribution of Red Bull, limited to urban areas and a target group that knows the brand from abroad. We want to develop a feel for the market and the consumers,” Kronen Zeitung quoted the company as saying.
Privately owned Red Bull did not immediately respond to a request from Reuters for comment.
The company, based near Salzburg, sold 5.2 billion cans of its Red Bull energy drink last year and made sales of 4.9 billion euros ($6.7 billion).
($1 = 0.7283 euros)
Reporting by Georgina Prodhan