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Pernod Ricard India launches single malt
Just one week after Pernod Ricard launched its first China-made whisky, the company has released an Indian single malt.
Pernod Ricard is continuing to build in the Indian market, which is second in stature only to the US for the French group.
To add to Pernod’s portfolio in the country it has launched its first premium Indian single malt, Longitude77, produced in small batches in a distillery in Maharashtra’s Nashik.
Having previously launched the product in the global retail market in October, Longitude777 is now available across broader retail outlets.
The name is inspired by the longitude that runs through the length of India at 77° east and marks India’s position on the world map, the company said in a statement.
Indian made foreign liquor makes up almost 95% of Pernod Ricard’s Indian sales volumes and generates more than 80% of its net sales, according to Jean Taboul, the local managing director.
He predicts a threefold jump in sales in India over the next decade as the country’s economy expands and the growing middle class spends more of its disposable income on better quality, higher priced IMFL and imported brands.
He also believes that eventually India will supersede the US as Pernod Ricard’s biggest and most profitable market.
Longitude77 is part of that expansion drive.
“India is on the cusp of emerging as a powerhouse in the realm of authentic luxury and heritage craft,” Taboul said at the launch.
“Our diverse portfolio within the country reflects the group’s commitment to the ‘Make in India’ initiative.”
Perfectly tailored to the Indian market
Chief marketing officer and head of global business development Kartik Mohindra said the whisky was perfectly tailored to the Indian market.
“At the back of solid premiumisation and our commitment to quality and innovation, we believe that Longitude77 will be a game-changer for the Indian market,” he added.
In its financial year 2022/23 Pernod Ricard’s Indian subsidiary generated sales of €2.76 billion, a 10% increase on the previous year.
That performance was hampered by the suspension of the company’s liquor licence in the Delhi region, which accounts for about 5% of Pernod Ricard’s Indian market.
The regional government refused to renew the licence until a court case alleging breaches of competition rules is resolved.
Pernod Ricard strenuously denies the charges.
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