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Pernod Ricard Expects International Brands To Contribute More To Its India Business
French wine and spirits major Pernod Ricard expects contribution of its imported brands to India business to rise with the category witnessing faster growth than locally-bottled ones. According to Pernod Ricard India (PRI), youths in India are dictating the trends in favour of international brands, which is supported by with rise in disposable income and ambitions to upgrade.
"At PRI, our domestic as well as international whisky portfolios are witnessing double-digit growth. The international brands portfolio is surely seeing faster growth vis-a-vis the domestic counterparts," Pernod Ricard India Chief Marketing Officer Kartik Mohindra told PTI.
".... this trend is dictated by youth and urban centres as globalisation is happening and the digital media landscape is also ensuring that world becomes smaller," he added.
India is the third-largest market for Pernod Ricard globally after the US and China.
However, he also added that high prices because of taxation remains a deterrent in the shorter term for international brands.
"But with gross domestic product (GDP) growth rising with increase in ambitions of the younger consumers, we are hedging that these categories would grow much faster than the domestic brands," Mohindra added.
The growth in sales of international brand is also supplemented by duty-free shops at international airports.
In the domestic portfolio, Royal Stag, Blenders Pride and Imperial Blue are PRI's leading brands.
While, Glenlivet, Chivas, Ballentine's are the leading brands in international portfolio which also includes Absolut, Monkey 47, and Jameson.
Source: Business Standard
