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Demand for spirits across segments slowed to 4% in the last calendar year, a sharp fall from 12% in 2022, after increased taxes, a high base and tipplers seemingly cut back on drinking. ....
Liquor mimicked the overall consumer discretionary segment, where sales of products such as apparel, footwear and beauty slowed in India in 2023 after two years of pandemic-induced runway growth. The spirits segment had also seen a record surge in the prices of raw materials such as extra neutral alcohol, glass and packaging material a year ago, which have softened now. Grain prices, however, have surged over the past two quarters, squeezing margins. ....
Pernod Ricard s global portfolio comprises over 200 premium brands, including 100 Pipers, Chivas Regal, The Glenlivet, Absolut, Havana Club, and Jacob s Creek. It also owns IMFL brands such as Blenders Pride, Imperial Blue, and Royal Stag. India is the second largest market globally for Pernod Ricard after the US. ....
India is the second largest market globally for Pernod Ricard after the US. Recently, Pernod Ricard India MD Jean Touboul in an interaction with PTI had said that he expects a threefold jump in sales in the country by next decade, led by macroeconomic tailwinds, favourable demographic dividend and growing premiumisation in IMFL and imported brands. ....