Davidoff deal for KT&G

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Industry Spotlight Q2 10

Davidoff deal for KT&G

South Korea

KT&G has signed a licensing agreement with Imperial Tobacco Group Plc’s to manufacture Davidoff cigarettes starting in the first half of 2010, the company has announced.

KT&G has lost market share to imported brands in recent years, and this move is a sign that the company is taking back the initiative, according to some commentators. KT&G’s share prices rose as investors welcomed the news

"Given KT&G’s continued domestic market share loss over the past several years which mainly resulted from its weak presence in the faster-growing premium segment, we believe the launch of Davidoff will help KT&G to defend its domestic market share at 60.9% in 2011," according to Goldman Sachs analysts. KT&G had 62.3% of the market as of 2009.

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