Success story: Red Bull

Red Bull
Red Bull

Industry

Food & Beverage

Customer Profile

Red Bull GmbH is an Austrian company created in 1987 selling energy drink – Red Bull. Red bull has the highest market share of any energy drink in the world, with 6.302 billion cans sold in a year (as of 2017).

Market

Hong Kong

Tricor Services

Accounting & Payroll Services

Customer Since

2010

Tricor helps Red Bull spread its wings in Asia

Tricor is always reliable, accurate and efficient. Since 2010, they have been an excellent business support for Red Bull in Hong Kong. Not only are they fantastic business partners, but they are a vital bridge between our local business and our global team.

General Manager, Greater China

Challenge

Client did not have an HR team or accounting team in HK. The group had tight reporting deadlines for monthly closing and reporting package completion, annual audit coordination and statutory accounts preparation. The HK office found it difficult and time-consuming to administer payroll, stay on top of accounting matters, and navigate the complexity of compliance.

Solution

Client outsourced accounting and payroll services to Tricor.

Benefits

Tricor’s one-stop-shop accounting and payroll solution helped to ease the administrative burden and complexities of group financial reporting obligations. Tricor provided high quality, timely and reliable services. Red Bull could enjoy peace of mind knowing that their functions were in compliance with local regulations.

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