Source: ETRetail.com, Aug 19, 2019
MUMBAI: India has outpaced Mexico to become Bacardi’s second largest market for rum by volume, as consumers gradually shift to pricier products across the spirits segments in a largely whiskey-dominated market.
Bacardi sold about 1.7 million cases of its eponymous brand in India, compared with 1.4 million in Mexico in 2018. A year earlier, both countries had similar volume sales at 1.4 million cases, according to the International Wine and Spirits Research (IWSR). The US remained the largest market for the Bermuda-based company with rum sales of 6.4 million cases.
“We see lot of consumers upgrade to higher-priced rum and other spirits which helped us grow about 19% last year since most of our brands are into premium segments. India is also a top priority market for us globally, and we have been investing in bringing newer brands and supporting infrastructure last year,” said Sanjit Randhawa, the managing director at Bacardi India. “The market also bounced back after highway ban and regulatory issues a year ago.” Read the rest of this entry »