Pernod Ricard to triple revenue by next decade; launches two new premium whiskies

New Delhi: Pernod Ricard India, on Tuesday launched two premium whiskies. It plans to triple its revenue over the next decade by prioritising premiumisation, 

It has unveiled two whiskies - Royal Stag Double Dark Peaty Whisky and Blenders Pride Four Elements Premium Whisky - as part of this initiative, said a statement from the Indian subsidiary of the French Spirits maker Pernod Ricard.

Earlier, it launched Longitude 77, which was the first Indian Single Malt by Pernod Ricard. The company "has unveiled an ambitious plan to triple its revenue over the next decade by prioritising premiumisation and innovation in the Indian market," said a statement from Pernod Ricard India.

The liquor firm posted a consolidated revenue of Rs 25,039.47 crore from its operations for FY23.

"These launches mark a significant step in the company's plan to strengthen its position in the premium whisky market, which has seen rapid growth and evolving consumer preferences in recent years," it said, adding "India is a key market for the Pernod Ricard Group globally".

Pernod Ricard India is the second-largest Alcobev company in India after Diageo-controlled United Spirit, which reported a revenue of Rs 25,389 crore in FY24.

The company aims to leverage its market position with Royal Stag and Blenders Pride holding leadership positions within their respective segments.

"With 97% of its portfolio produced domestically, Pernod Ricard India’s strategy aligns with the government's vision of Make in India initiative," it said.

Commenting over the development, Pernod Ricard India Chief Marketing Officer Kartik Mohindra said India is among the top three global markets of the French Spirits maker.

"India offers significant opportunities for growth and innovation," said Mohindra, who is also the head of Global Business Development.

Both Royal Stag and Blenders Pride are the mainstay of Pernod Ricard's India sales.

"These strategic launches not only underscore Pernod Ricard India’s commitment to the Indian market but also set the stage for potential global expansion, leveraging the strong international presence of both Royal Stag and Blenders Pride brands," it said.