Latest News | Brown-Forman Looks to Expand Portfolio, Tap 'huge Opportunity' in Indian Market
Get latest articles and stories on Latest News at LatestLY. American spirits major Brown-Forman, the maker of many popular brands including Jack Daniel's, is seeking to tap a "huge opportunity" in the Indian market where premiumisation of liquor has accelerated during the coronavirus pandemic, according to a company official.
New Delhi, Sep 12 (PTI) American spirits major Brown-Forman, the maker of many popular brands including Jack Daniel's, is seeking to tap a "huge opportunity" in the Indian market where premiumisation of liquor has accelerated during the coronavirus pandemic, according to a company official.
The Louisville, Kentucky-based company has enhanced efforts towards making its premium global spirits portfolio accessible to drive category penetration for American Whiskeys, said a company official.
It is driving retail distribution for its premium and super-premium portfolio and expanding with introductions of the global portfolio in the Indian market.
"As a part of our portfolio development strategy, we are looking to expand the Jack Family of Brands in India to strengthen our portfolio in India and serve consumers better by offering them more choices," Brown-Forman Director & GM - IMENA Siddharth Wadia told PTI.
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Jack Daniel's is already back to its sales level seen during pre-covid times in the domestic market and continues to drive forward the category penetration, portfolio offerings and consumer engagement, he added.
When asked about the long-term outlook for the Indian market, Wadia said it remains very positive.
"What gives us confidence is the strong premiumisation trend as consumers continue to upgrade... mixability and cocktails finding more favour with consumers and their desire to discover newer experiences driving experimentation beyond the standard scotch whiskey segment," he said.
"Hence, we are very well poised to grow strongly in India with our globally iconic brand Jack Daniel's and leadership position in American Whiskey," he said.
India is among the top 10 emerging international markets for Brown-Forman and continues to remain a focus for long-term growth.
"India is the largest whiskey market in the world and contributes half of global whiskey volume. With rising income levels and exposure, increasing well-travelled legal drinking age population and continued premiumisation, the potential Indian markets offer is immense,” Wadia added.
According to him, the pandemic has indeed given rise to some very interesting trends.
"Notable among them have been the rise of home consumption and staycations, premiumisation, digital connectedness and the focus on convenience and safety,” he said.
The company has also observed that consumers were spending more time on digital and social media as they were locked inside their homes.
"Therefore, we enhanced our outreach on social media to reach out to consumers through the digital channel," he said.
Brown-Forman Corporation is one of the largest American-owned companies in the spirits and wine business.
Besides Jack Daniel's, it has a portfolio of several well known brands which includes Woodford Reserve, Old Forester, Benriach, GlenDronach, Glenglassaugh, Finlandia, Herradura, Korbel and Chambord.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)