[ad_1]
New Delhi: India has emerged as fastest-growing market for William Grant & Sons, maker of top whisky brands, such as, Glenfiddich, Monkey Shoulder, Balvenie, apart from Hendrick’s Gin, with sales volumes growing three times over last four years. Volumes in India are lower than developed markets, such as, the US, Europe and China, but pace of growth has been the fastest among large markets.
The Scottish spirits maker, which is an independent family-owned enterprise that entered India a decade ago, says robust demand is prompting it to invest more through higher allocations of various spirits, special editions, and marketing spends. “Importance of India is only increasing within our system. There is a growing confidence not only from point of view of business, but also because of stability here, including political,” Sachin Mehta, country director (India & India subcontinent) for William Grants & Sons told TOI.
The demand is coming not only from metros and large cities but also from smaller towns, he said. Between 2021 and 2023, India business – which focuses broadly on the Bottled In Origin (BIO) route – has doubled in terms of revenue. “If you compare from 2019, which was pre-Covid period, we have grown three times when it comes to value of our sales.” In terms of volumes, the numbers have grown by three times between 2019 and 2023. “We finished 2023 with sales of roughly three lakh cases. The same was less than one lakh cases in 2019,” Mehta claimed but did not disclose numbers to back it up.
Asked whether the recent success of local brands such as Amrut, Paul John, Rampur, and Indri poses a threat to the grip of Scottish makers on the Indian market, he said on the contrary, the trend is helping expand demand for premium spirits. “It is a positive. A lot of new consumers are getting a taste of malts and would thereafter move into Scottish malts. Look at what happened in the car industry where consumers upgraded from local brands to multinational ones.”
The Scottish spirits maker, which is an independent family-owned enterprise that entered India a decade ago, says robust demand is prompting it to invest more through higher allocations of various spirits, special editions, and marketing spends. “Importance of India is only increasing within our system. There is a growing confidence not only from point of view of business, but also because of stability here, including political,” Sachin Mehta, country director (India & India subcontinent) for William Grants & Sons told TOI.
The demand is coming not only from metros and large cities but also from smaller towns, he said. Between 2021 and 2023, India business – which focuses broadly on the Bottled In Origin (BIO) route – has doubled in terms of revenue. “If you compare from 2019, which was pre-Covid period, we have grown three times when it comes to value of our sales.” In terms of volumes, the numbers have grown by three times between 2019 and 2023. “We finished 2023 with sales of roughly three lakh cases. The same was less than one lakh cases in 2019,” Mehta claimed but did not disclose numbers to back it up.
Asked whether the recent success of local brands such as Amrut, Paul John, Rampur, and Indri poses a threat to the grip of Scottish makers on the Indian market, he said on the contrary, the trend is helping expand demand for premium spirits. “It is a positive. A lot of new consumers are getting a taste of malts and would thereafter move into Scottish malts. Look at what happened in the car industry where consumers upgraded from local brands to multinational ones.”
#India #fastestgrowing #market #whisky #giant #William #Grant
