India: Beam Suntory to launch four new products in India
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Premium spirits maker Beam Suntory plans to expand its product portfolio by launching four new products from its Japanese parent company House of Suntory’s portfolio, in the next 18 months, said Ruchika Gupta, Marketing Director, Beam Suntory India, The Hindu Business Line reported on February 2.
The company will be introducing its single malt whiskey Yamazaki 12, different flavors of Jim Beam bourbons, Japanese craft vodka Haku and a super premium tequila brand. “Our growth in India has been on the back of the growing interest for premium alcohol here. With a majorty of our products recording double digit sales growth, we are poised to achieve our previously set target of $1-billion revenue by 2030,” Gupta told businessline.
In 2021, it had launched five premium spirits including Oaksmith, Tte Yamazaki Distiller’s Reserve, Hibiki Japanese Harmony, Suntory Whisky Toki and Roku Japanese Craft Gin in North India. Now, the company has expanded the distribution of its popular brand Oaksmith to around 20 States in the country. It further plans to enter more States in the near future, said Gupta.
Beam Suntory said its brands grew at 76.2 per cent in 2021 over 2020 and are estimated to grow at CAGR of 23.1 per cent in the next five years (2021-2026).
The company says it aims to percolate premiumisation across segments. “Even in an affordable segment like Indian Whiskey, we work to offer a premium point of view. We see a huge headroom for growth in the premium high quality product market, where consumers find it worthy,” Gupta said. The Indian geography is a rewarding opportunity for the company as India wants to drink better and drink more, she added.
Additionally, the company has announced the permanent removal of mono-cartons from its portfolio of Indian brands, to further its sustainability initiative. The company has an employee base of over 800 people — 460 on-roll, 340 off-roll — in India.
