ReutersFrench spirits group Pernod Ricard is "very confident" about prospects for demand for its premium cognac in China as the country emerges from COVID lockdowns, its finance chief said on Thursday.
Helene de Tissot also told Reuters by phone that Pernod Ricard was "hopeful" it would obtain the renewal of a liquor sale licence in New Delhi. The company is currently challenging a decision from Delhi city authorities that have declined its request for a renewal of the licence.
India is a key growth market for Pernod, where it makes 10% of group sales. The New Delhi business accounts for 5% of Pernod's India sales, Tissot said.
Pernod faces a series of regulatory challenges in India - federal agencies have notably accused the company of illegally making profits by giving false information to Delhi city authorities in 2021, and violating rules by financially supporting retailers in exchange for stocking more of its brands. Pernod has repeatedly denied wrongdoing.
Helene de Tissot also told Reuters by phone that Pernod Ricard was "hopeful" it would obtain the renewal of a liquor sale licence in New Delhi. The company is currently challenging a decision from Delhi city authorities that have declined its request for a renewal of the licence.
India is a key growth market for Pernod, where it makes 10% of group sales. The New Delhi business accounts for 5% of Pernod's India sales, Tissot said.
Pernod faces a series of regulatory challenges in India - federal agencies have notably accused the company of illegally making profits by giving false information to Delhi city authorities in 2021, and violating rules by financially supporting retailers in exchange for stocking more of its brands. Pernod has repeatedly denied wrongdoing.
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