Pernod Ricard eyes expansion in burgeoning youth market

French spirits maker Pernod Ricard SA - the owner of Martell cognac, Chivas Regal whisky and Absolut vodka - is banking on China's growing middle-income earners and the younger generation to double the size of the market for international spirits in the country by 2025.

International spirits now account for only 1 percent of market share in China and the company aims to expand that share to 2 percent in the coming seven years.

Describing China as Pernod Ricard's "second battleground" behind the United States and an "extremely significant strategic market", Jean-Etienne Gourgues, managing director of Pernod Ricard China, told China Daily that the goal of the company is to "maintain and reinforce our leadership in China while growing the market".