Pernod Ricard (AO) | Buy | Further closing the gap to market in the US

研报英文原文证据摘录

Pernod Ricard (AO) | Buy | Further closing the gap to market in the US

connection and more mindful drinking occasions.

Pernod’s strategy and execution

Pernod Ricard USA’s central objective was and still is to “close the gap to market” by improving focus, agility and commercial

execution. The company is concentrating resources behind its most important growth platforms, especially its “Power” and

“Explode” brands. Six Power Brands (Jameson, Absolut, Kahlúa, Malibu, The Glenlivet and Skrewball) account for roughly 70% of

US net sales, making them the core of the recovery plan.

Execution is being tightened across several levers.

– Pernod is using revenue growth management to address affordability, reflected by smaller formats and lower price points.

– It is focusing more into convenience and new occasions through RTDs and canned formats, such as Absolut RTDs and

Skrewball cans.

– Innovation is being accelerated and made more consumer-led, with Malibu Pink highlighted as an example that combines

flavour, affordability, smaller formats and cultural relevance.

– Brand activation is becoming more targeted, with greater emphasis on cultural moments, sports, music, on-premise advocacy

and serve strategies such as Kahlúa’s espresso martini platform.

The company has also made structural changes to improve execution. It has reset its route-to-market model and now works with

10 wholesalers, aiming to better match brands, partners and states. Internally, Pernod has strengthened the commercial team,

simplified accountability and upgraded several capabilities. The aim is to make decision-making faster and resource allocation

more effective.

Outlook

Management sees early signs of stabilisation, with Q3 fiscal 2026 performance improving versus Q2, although Pernod Ricard USA