Family-controlled spirits firm Bacardi Martini is accelerating its presence in India. It has set up a new product development centre at its Nanjangud plant in Mysore, signalling its plans to create local brands.
All of the new product development for the maker of rums, Grey Goose vodka and Dewar's Scotch was earlier done in the US. The centre in India will now serve all of South Asia.
"The growing importance of India in the region and keeping the consumer at the heart of all our innovation, it was felt that we would be able to do it with a centre in India," Mahesh Madhavan, Bacardi's president & CEO-South Asia, says.
Several multinational spirits firms have been rolling our local whiskies to straddle a larger market as imported spirits carry high tariffs in India. The maker of Royal Stag, Blender's Pride and Imperial Blue whiskies, Pernod Record was the first to bet on this strategy. Last year, Diageo Plc too launched Rowson's Reserve whisky in India.
Bermuda-headquartered Bacardi counts India among its fastest-growing markets. It entered India in 1998 through a joint venture with Mysore-based Gemini Distilleries, which owned 26% stake in the business. In 2009, it acquired this local partner.
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