Brewing and bars juggernaut BrewDog has announced further expansion from the north-east to the Far East.
The Ellon company is to open a new bar in Hong Kong’s Lan Kwai Fong district, an area that is particularly popular with expats out for a night of drinking, clubbing and dining.
BrewDog’s new bar in the former British colony is the first in a joint venture with Budweiser China, which the Scottish firm hopes will drive expansion in Asian markets.
Ellon-based firm aims to open 200 more bars around the world by 2030
The company recently unveiled expansion plans to treble its global bar footprint over the next seven years, opening another 200 venues around the world.
Total revenue from new and existing sites, including a substantial footprint in the UK and US, are expected to deliver total annual revenue of more than £1 billion for BrewDog within five years.
Co-founder and chief executive James Watt said: “We’re hugely excited to bring BrewDog Hong Kong and be part of the iconic Lan Kwai Fong district.
“This is first of many bold plans with our joint-venture partner Budweiser China, which will see us bring BrewDog to every corner of the world’s biggest beer market.
“Over the coming years we will be opening more venues and locations across China and throughout Asia, which will be genuinely transformational for us as we grow globally and continue to spread our passion for quality beer.”
We are doubling down on moving the needle for craft beer.”
James Watt, BrewDog
He added: “Our goal now over the next decade is to become one of the world’s leading breweries, with people, planet and quality beer at its heart. That’s why we are doubling down on moving the needle for craft beer. This is not about winning in craft; this is about changing the world of beer forever.”
BrewDog’s website says the new Hong Kong bar is “opening soon”.
The long-term agreement with Budweiser China is focused on growing the BrewDog brand across China, which is now the world’s biggest producer and consumer of beer.
The popularity of craft beer in the country has surged over the past decade.
According to BrewDog, production has soared to meet demand, hitting 143 million by 2020 as drinkers “move beyond familiar lagers to seek out premium brands and superior taste”.
BrewDog’s Far East adventure part of push to expand the bar chain globally
The firm’s Punk IPA, Hazy Jane and Elvis Juice beers are now being produced at Budweiser China’s craft brewery at Putian, near the Far East country’s south-east coast.
BrewDog also has a joint venture in Japan, where sales of its craft beers are said to have doubled since the deal was announced in September 2021.
The company is aiming for 300 bars globally by 2030 as part of its Future Growth Blueprint for the brand. It already operates more than 100 bars and hotels worldwide.
Other openings this year include bars in the UK, Italy, Netherlands, Australia and US.
Conversation