Jim Beam maker wants to fill India's whisky glasses
Mumbai's Suntory Global Spirits aims to make India its third-largest market in terms of revenue by 2030, according to CEO Greg Hughes. The distiller plans to achieve this by focusing on selling locally-made whiskies alongside imported Japanese and American brands. Currently, Suntory generates $150 million in annual sales in India, with its Jim Beam, Roku, and Yamazaki brands being the flagship products.
The company has set its sights on closing the gap with rivals Diageo and Pernod Ricard in the growing Indian market, where it aims to achieve $1 billion in annual sales by 2030. Hughes stated that the company has made progress toward this goal but did not provide further details.
Suntory's strategy includes leveraging its existing brand portfolio, such as Oaksmith, a locally-made whisky, to target the mass and mid-premium segments. Jim Beam and Japanese brands like Hibiki and Toki will cater to the premium consumer base. While Suntory isn't planning to launch an Indian single malt brand, like some of its competitors, it sees potential in the rapidly growing Indian whisky market, which is projected to add around 100 million legal-drinking-age consumers by 2030.
The Indian whisky market is currently dominated by Suntory, with about 95% share, through brands like The Yamazaki and Hibiki. The company also controls 44% of the American whiskey category in India. Suntory plans to scale its whiskey business in India to become the top whiskey player, with bottling capacity and co-manufacturing arrangements being key priorities.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
