Pernod Ricard plans to make premium brands in India
Pernod Ricard, world's second biggest distiller, is evaluating options to launch India-made premium spirits including whisky, rum and gin, to cash in on the surging demand for pricier and craft liquor products across segments. The French firm has already launched an Indian single malt currently being test-marketed in Mumbai and Goa, joining the league of companies such as Diageo and Radico Khaitan that launched high-end local brands such as Epitome Reserve and Rampur. Kartik Mohindra, chief marketing officer and head global business development, at Pernod Ricard India, said the Indian single malt, christened Seagram's Longitude 77, is going to be targeted at matured whisky consumers.
The product is currently sold at ₹5,500-₹6,000 per bottle making it the most expensive Indian brand for them. «We are evaluating other categories for premium brands, based on whether it will be profitable and have a sustained value. Some segments like top-end rum and tequila are unexploited markets right now in India,» said Mohindra.
He said the other products are still in a conceptual stage. Mohindra said the company would also explore opportunities to export these premium Indian brands to other countries such as the Middle-East, UK and the US where there is a sizable Indian diaspora. This is also part of the company's strategy to take on the competition from Indian brands including startups who are trying to premiumise their portfolio and also widen its presence in the premium segment across price points where it currently sells only imported products.
Imported products have a far higher tax such as Scotch whisky. Single malt attracts 150% duties. India is the third largest market for Pernod Ricard after the US and China and the country is
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