Bacardi is bringing its 'secret family recipe' to India with a new brand 'Ocho'
Premium liquor brandsin India have been witnessing a growth in the market. Bacardirecently launched Ocho– a premium rum in India.
- Rum in India has so far been associated with being the cheaper alcohol with the likes of Old Monk long being the market favourite.
AdvertisementIt’s been 21 years since Cuban rum maker Bacardi entered India. Now, the global liquor giant is wants to net more consumers with its premium rum –
It is no ordinary rum either. It is a closely guarded secret family recipe, from a company which has been making rum for 157 years. It believes the Indian market has matured enough, to introduce its premium brand.
Last year, Bacardi sold around 2 million cases of rum in India. Now, that Bacardi has settled in fine, it wants to bring in its best.
“Last couple of decades, the focus has been to establish Bacardi in India. Now, that that is done, the opportunity is right to drive premiumisation,” Anshuman Goenka, Head of marketing, Bacardi India told Business Insider India.
‘Drink less, drink better’
The Indian market for rum is driven by cheaper brands as of now, and the market favourite is Old Monk. But, can Bacardi Ocho priced at ₹3,710 a bottle (in Delhi), be able to find a footing?
“Increasingly, we have been seeing that there is a whole segment of consumers that is buying premium alcohol in other categories – scotch, gin, vodka. However, rum is one of the last categories to be premiumised. Consumers are willing to shell out money for good quality. The growing trend is drink less but drink better,” said Goenka.
As more and more Indians travel abroad, they are tasting better quality liquor and are coming back home with ‘higher taste’. Other brands too have been picking up on this trend.
"India is the largest whisky market in the world, and now has the strongest potential for growth of premium products," Rajesh Mishra, CFO of Pernod Ricard India told Moneycontrol in an interview. The France-based Pernod Ricard marks India as its second-largest market.
Another maker of premium liquor brands like Johnnie Walker – Diageo too saw a spurt in sales thanks to its premium brands. Diageo’s subsidiary United Spirits reported last week that its net sales for ‘Prestige & Above segment’ grew by 9%.
Popular on BI
- A top AI researcher reportedly left Google for OpenAI after sharing concerns the company was training Bard on ChatGPT data
- An AI researcher who has been warning about the technology for over 20 years says we should 'shut it all down,' and issue an 'indefinite and worldwide' ban
- What is an indictment? What it means for someone to be indicted by a grand jury and why Trump was charged
- India reports 3,824 new Covid cases
- 77% of young Indians now spend the most on phones, apparels
- Global Pharma recalls 50,000 tubes of contaminated eye drops in US: USFDA
- Former India cricketer Salim Durani passes away aged 88; PM Narendra Modi, Ravi Shastri lead tributes
- India successfully achieves autonomous landing of Space vehicle