Brown-Forman has experienced dramatic expansion in recent years, fuelled by the growing domestic and international popularity of brands such as Jack Daniel’s, Southern Comfort, and Finlandia Vodka, to name a few. For example, in 2002, around 23% of our revenues were generated outside of the United States. Today, this figure is around 58%, with growing market share in both Europe and other parts of the world, particularly Mexico, Australia and Turkey. We have embarked on an ambitious strategy to continue expanding both the Jack Daniel’s family of brands and the rest of our portfolio internationally, as well as consolidating our market leadership position in the United States.
To successfully achieve these objectives, we have identified a number of both developed markets, such as the United Kingdom, Australia, Germany, France and Spain, and emerging economies such as Poland, Mexico, Russia, China, Brazil and India as target growth regions for the future. To facilitate this continued expansion, and avoid the negative impact of increased exposure to foreign currency volatility, we needed to put in place an efficient and robust forecasting and FX hedging process.
Robert WaddellGlobal Treasury Manager