NEW DELHI :
Alcoholic beverage company Diageo India has announced an addition to its Black Dog scotch whisky brand –Black Dog Millard’s Private Reserve 14-year-old–as a tribute to its founder.
The scotch, the company said, follows the idea of the “art of pausing” and has been carefully aged for an exact period of 14 years. The product has been unveiled by actor Saif Ali Khan. The company added that this whisky has citrus flavours from the 200-year-old Linkwood distillery located in the heart of Speyside accentuates the taste profile of Black Dog.
The pack design, it added, displays a brand crest that references its connection to the Leith family of distilleries – The Royalty of Scotch Blenders, an icon that represents the brand’s roots and its founder Sir Walter Millard’s passion for fly fishing.
Diageo India retails about 50 brands in India including Johnnie Walker, Black & White, Vat 69, Antiquity, etc,. According to its registrar of companies filings, Diageo India subsidiary United Spirits reported a Q2 profit of ₹286 crore in FY 21-22. The company said its revenue from operations was up 9.31% to ₹8,208.8 crore in the quarter as opposed to ₹7509.4 crore in the quarter a year ago.
In 2020, the global spirits market size was $234500 million and it is expected to reach $241250 million by the end of 2027, with a CAGR of 0.4% during 2021-2027. Asia-Pacific is expected to be the most lucrative segment during the forecast period, according to market research firms, Valuates Reports.
Due to rising domestic consumption in countries like China and India, Asia-Pacific is likely to maintain its dominance in the global spirit industry. The Asia-Pacific spirit market is led by China, while India is predicted to expand the fastest. In the previous ten years, sales of imported spirits in China have increased fourfold, it said.
India consumes more whisky than any country in the world. According to IWSR, a data analyst on the beverage alcohol market, global whiskey volumes are set to witness a rebound in 2021, after a 10.7% decline in 2020, helped by recovery in large markets such as India and the US. Research firm Euromonitor International said luxury spirits accounted for sales worth ₹11,670.7 million in 2019 in India but was expected to shrink in 2021 to about ₹8542.2 million owing primarily to the covid-19 pandemic.
Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!
Credit: Source link
