Bacardi enters premium brandy category in India
Premium- The maker of Bacardi rum and Grey Goose vodka expects to grow the business five-fold by 2030.
NEW DELHI : Spirits company Bacardi India, on Thursday announced its foray into the brandy and Indian Made Foreign Liquor (IMFL) category with the launch of Good Man—an innovation specially made for the Indian market.
The move is targeted towards the premium brandy segment.
The maker of Bacardi rum and Grey Goose vodka expects to grow the business five-fold by 2030.
“We are excited to announce Bacardi India’s foray into the premium brandy segment with the launch of Good Man. Our aim is to grow the business five folds by 2030, and this launch reiterates our commitment to the market. It fortifies our premium portfolio as we continue to capture a larger share of the brown spirits category," said Sanjit Randhawa, Managing Director, Bacardi India.
India is among the top markets for the brandy globally—accounting for 39% of the world’s consumption. In India, brandy is the second-largest consumed spirit after whiskey.
While the brandy category is growing at 3% in the country, the premium brandy category is growing at a much faster rate at 16%, Bacardi said.
Ayaesha Gooptu, head of innovations, AMEA (Asia Middle-East and Africa) at Bacardi, said, “With innovation at the very core, Bacardi has always evolved and introduced new products to provide outstanding experiences to consumers. In line with that, Good Man, too, aims to offer an enhanced drinking experience to the discerning Indian consumer. Initially, we will focus on understanding consumer sentiment and then we will take this brand to more markets."
India is the top 10 priority markets for Bacardi worldwide.
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Indian consumers continue to trade up to better more premium spirits prompting companies to push out more pricey alcoholic beverages.
With the southern states currently accounting for 98% of the country’s overall brandy market share—Good Man has been introduced to consumers in the South.
It is available on shelves across Kerala, Karnataka, Telangana, and Pondicherry.
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