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Diageo expects affluent consumers to drive growth in India

Diageo expects affluent consumers to drive growth in India
PTI
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First Published: Sun, Jul 17 2011. 12 22 PM IST
Updated: Sun, Jul 17 2011. 12 22 PM IST
New Delhi: Global alcoholic beverages major Diageo said soaring consumer affluence in India and Asia Pacific will lead to growth and drive demand for more premium products within the spirits segment in the region.
“The rising affluence and high level of aspiration amongst Asian consumers is expected to continue to drive the growth of the international spirits segment in the region,” Diageo chief commercial officer of Asia Pacific, Mark Barnard said.
The company has a strong presence in India and out of 60,000 licenced alcohol outlets in India, Diageo has active presence in 43,000 outlets, Diageo said.
“We currently have a strong, and growing, luxury business in India and we expect to see our super deluxe brands like Johnnie Walker Blue Label, Talisker, Ciroc and Ketel One continue to thrive,” Barnard added.
The company currently has a 30% share of international spirits in Asia Pacific, which is the fastest growing segment in the region, Diageo said.
“Whilst the Indian luxury spirits market is currently small in value at an estimated GBP 16 million value, it is expected to grow with a projected CAGR of 36% (value) until 2015,” it added.
“We currently have a strong, and growing, luxury business in India and we expect to see our super deluxe brands like Johnnie Walker Blue Label, Talisker, Ciroc and Ketel One continue to thrive,” Barnard said.
The company said it is the market leader in the super deluxe blended Scotch segment in India, driven by a strong presence of Johnnie Walker Blue Label and Johnnie Walker Gold Label Reserve.
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First Published: Sun, Jul 17 2011. 12 22 PM IST
More Topics: Diageo | Spirits | India | Asia Pacific | Luxury Brand |