Date: 29 October 2013
Covet brings the best of O-I’s global capabilities, including custom glass design and decoration, a collection of classic O-I bottle designs and O-I’s innovation portfolio to help high-end brands seize market opportunities.
Covet celebrates the power and appeal of glass and is rooted in O-I’s history of partnership with some of the world’s most recognized high-end brands. The company has crafted iconic super-premium bottles for rum, pisco and cachaça brands such as Ron Cartavio, Ron Maestro Botero and Ron Medellin, among others.
“With Covet, we’ve built a new offering that leverages O-I’s existing footprint and proven expertise with high-end brands to serve the unique needs of this growing space in the market,” said Rildo Lima, general manager of Covet. “With our global capabilities, market knowledge and design and manufacturing expertise, we can provide customers with glass bottles that deliver a highly customized experience to the consumer.”
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Luxury Brand Markets Growing
Covet’s introduction comes as the global super premium-plus spirits market – products priced at USD $26 and above – is expanding faster than any other category. According to the International Wine and Spirits Research, the segment is expected to grow as much as 17 percent in Latin America and more than 7 percent in Asia by 2017, with volumes increasing by more than 50 percent in that time frame.
Growing household incomes in the emerging markets provide more disposable income for ultra-premium spirits, and growth in mature markets is fueled by greying connoisseurs.
“Covet designs bring out the absolute best that glass has to offer,” said Lima. “The variety and flexibility that glass adds to a brand experience is breathtaking. From the curve of the body and the glass’ heft in your hand to how a product catches the light, Covet treats each brand’s glass package as an opportunity to evoke desire and inspire an exquisite brand moment.”
O-I’s Covet capabilities have helped build successful brands. For instance, Covet helped Peruvian rum brand Ron Cartavio differentiate itself in the highly competitive rum market. As a result of its new collector-worthy bottle, the brand experienced a market share increase of 10 percent, and overall sales grew by 20 percent in a two-year period.
Covet launched yesterday in Latin America during an event at the Museu Brasileiro da Escultura (MuBE) in São Paulo, Brazil.
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About O-I
Owens-Illinois, Inc. (NYSE: OI) is the world’s largest glass container manufacturer and preferred partner for many of the world’s leading food and beverage brands. With revenues of $7.0 billion in 2012, the Company is headquartered in Perrysburg, Ohio, USA, and employs approximately 22,500 people at 79 plants in 21 countries. O-I delivers safe, sustainable, pure, iconic, brand-building glass packaging to a growing global marketplace. O-I's Glass Is Life™ movement promotes the widespread benefits of glass packaging in key markets around the globe. For more information, visit www.o-i.com or www.glassislife.com.
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