BANKS BEER is facing stiff competition from imported brands, but chief executive officer of Banks Holdings Limited, Richard Cozier, says the Barbados brand is winning the war.
The Banks Holdings boss told the BARBADOS BUSINESS AUTHORITY that there was currently “a beer war in play” in Barbados, with special pricing deals on brands imported from the region, such as three, four or five imported beers being sold for $10.
“Those numbers rain like magic now and that has impacted consumption [of Banks Beer],” Cozier said. But he added that new technologies employed in the company’s new multimillion-dollar brewery had served to reduce production costs, placing Banks in a position to compete.
“We are able to go in there and take on the imports in terms of our pricing model and that has brought us growth in terms of our beer market,” he said. (GC)
