Diageo is reportedly considering selling its Chinese assets as part of a strategic review under its new chief executive, Dave Lewis. The Guinness and Johnnie Walker owner has enlisted Goldman Sachs and UBS to examine its China operations, where sales have been weakening. Diageo’s holdings include a majority stake in Sichuan Swellfun, a baijiu producer whose shares have fallen sharply over the past year. Lewis, who took over in January, is known for aggressive cost-cutting during his time leading Unilever and later turning around Tesco. Diageo is facing pressure from high debt, shifting consumer habits and the impact of tariffs linked to Donald Trump, while China sales have declined at double-digit rates. The review follows Diageo’s recent decision to sell its stake in East African Breweries to Asahi Group, signalling a broader effort to streamline the world’s largest spirits maker.
OMN AI
This article was created with the assistance of OMN AI, the AI-powered editorial platform developed by OMN Group. Every article is reviewed, fact-checked, and approved by a human journalist before publication to ensure accuracy and editorial quality. Learn more at https://omngroup.com
Add A Comment