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Pernod Ricard : Seagram's 100 Pipers Scotch Whisky Sales Hit 1m Cases
Eleven years after India reduced its steep import duties on foreign spirits and wines to adhere to World Trade Organization (WTO) norms, French spirits giant Pernod Ricard has added a major feather in its cap. Its blended scotch whisky Seagram's 100 Pipers has touched 1 million cases (of 9 litres each) in sales for 2018. This makes it the first ever scotch whisky brand in India to reach the milestone.
The brand, which became part of Pernod Ricard India's portfolio after its acquisition of the Seagram India business in 2001, has been growing at a compounded annual growth rate (CAGR) of 20%, helped by changing demographics and higher consumer spending power. In 2017, the number of cases sold were 840,000. Pernod Ricard follows a July-June accounting year.
India's high customs duty on imported liquor was always a barrier for European and American brands to compete on a level-playing field with domestic producers. But ever since the rates were capped at 150% for spirits and 100% for wines, foreign players have been able to gain a foothold in the growing market.
The country is the largest whisky market globally, selling about 193 million cases annually, according to data from Euromonitor. Scotch is still a small segment in it with about 3.7 million cases. But it is growing at 10% - faster than the overall spirits industry. 100 Pipers is the standard scotch, or entry-level scotch, which makes up the bulk of the category.
"Consumers are gravitating towards global brands and there is an increased premiumisation in the spirits category. The scotch segment is still an urban phenomenon, but we are getting customers in smaller towns as well, which is boosting growth. We are hopeful of doubling sales in this brand in the next five years," Pernod Ricard India chief marketing officer Kartik Mohindra said.
Source : The Times Of India
