BY KARENA BENNETT Business reporter bennettk@jamaicaobserver.com
Wednesday, December 31, 2014
LOCAL brewing company Red Stripe has achieved a record nine innovative beverages since the start of the year and should begin distribution of another — cassava beer — next March.
Over the years, the company has been positioning itself for higher profits and increased shareholdings through recent efforts to modernise its plant, reduce energy consumption and substitute imported inputs with cheaper, locally sourced ones.
Rory Burchenson, innovation manager at Red Stripe, explained that the innovations continue to occur because of the company’s focus on anticipating the needs of its consumers, instead of working only to meet demands. Additionally, the creation of new products ensures that the Red Stripe brand remains relevant.
“The most fun aspect of innovation is the process of creation. Seeing a concept come to life and launched is one of the most fulfilling feelings,” Burchenson told the Jamaica Observer. “Even better when someone says they love this new flavour, or that new product.”
So far, the company has introduced Red Stripe in cans, Guinness and Red Stripe 1 litre, Smirnoff vodka iced cake, Smirnoff vodka marshmallow, crown royal, Red Stripe burst raspberry, Smirnoff Ice red berry and the Talawah ginger beer. The company has also gained a lot of recognition from its latest innovation, sorrel beer.
“I think what makes this unique is that it’s the world’s first naturally flavoured sorrel beer. It took us two years and around 15 different concepts to develop because the liquid was so complex to replicate. The pimento, ginger, sweetness and spicy notes had to be perfectly matched to home-made,” Burchenson said.
Red Stripe near tripled its profit earnings for the 2014 financial year, ending at $3.3 billion compared to just under $1.2 billion it made last year, according to the company’s audited financial statements.
During the company’s annual general meeting in October, Chairman Richard Byles stated that Red Stripe is currently in the ‘take-off stage’ and should be able to competitively produce beer alongside any other factory in the world. Byles also anticipates that the brewing company will hit an export target of 20 million actual cases of Red Stripe product by 2017, up from the five million it currently exports.
“Consumers have very high expectations of consumer goods companies,” said Burchenson. “They expect the goods and services to be first-rate, to complement their sense of taste and style and essentially to be an extension of their personality.”
Next month, the company will finalise construction of its US$800,000 (J$90.4 million) starch-processing plant, which will allow it to make its flagship beer with at least five per cent cassava. The company will also be investing another US$10 million over the next five years and should see an additional 39 individuals being employed to its farms.
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Next innovation on Red Stripe"s list... cassava beer
