INDIA- Spirits maker, Bacardi India has launched an e-commerce platform, Legacy Collective, that seeks to support emerging and bring local brands together in India under one umbrella.
At the moment, the company said artisanal fragrance maker, Isak Fragrances; premium leather products brand, The Postbox; and the Jaipur Watch Company, which sells luxury watches, are the three unique brands that make up the platform.
The platform which comes as a celebration of those disruptors, innovators, and change-makers who are on their journey to build their legacy as they pave their route to success, would further enable these firms to present their collection to a wide range of curious consumers while keeping the natural Indian traditions and heritage at heart intermingled with contemporary designs.
Ayaesha Gooptu, Head of Domestic Brown Spirits – Bacardi in India, said: “The Legacy Collective aims to connect homegrown brands with consumers who also live by the ethical code of ‘building their legacy.’ As we enter 2023 in high and zealous spirits, more consumers than ever before are chasing the thrill of new experiences and achievement. “
“Consumers today want to build their name, their legacy. We are thrilled to have Ranbir Kapoor on board with us as the face of our new platform. Renowned not only as a celebrated actor but also someone who has built his legacy on his terms, his journey perfectly echoes the platform’s philosophy – someone to truly serve as an inspiration for the unapologetically driven consumers of today as they chase their one-of-a-kind journey towards success.”
Over the past few years, made-in-India brands have multiplied rapidly and taken center stage as they cater to the specific needs of Indian consumers while ensuring premium quality and exclusivity.
With innate Indian traditions and heritage at heart intertwined with modern-day designs, the three in unison said the platform will further empower these brands to showcase their collection to a diverse set of inquisitive shoppers.
Pernod Ricard accused of infringing Delhi liquor policy
Meanwhile, India alleges French multinational beverage company Pernod Ricard violated Delhi city liquor policies rules by financially supporting retailers who in exchange stocked more of its brands and boosted its market share.
India’s Enforcement Directorate said in court documents filed in November last year that Pernod India provided corporate guarantees worth 2 billion rupees (US$25 million) in 2021 to its banker HSBC and asked it to facilitate loans to retailers, who used the funds to bid for liquor store licenses in New Delhi.
The Delhi government’s policy prohibited manufacturers from participating in retail sales directly or indirectly and Pernod was “in contravention” as it effectively used bank guarantees to invest in retailers, said the documents, which were reviewed by Reuters.
Pernod Ricard India came out strongly and denied the allegations of the directorate, adding that it “will continue to fully cooperate with the Indian authorities in this matter.”
Under the 2021 Delhi liquor policy, hundreds of store licenses were awarded to private players as the city government exited the retail business in a move to liberalize trade and boost local government revenue.
Under the policy, liquor manufacturers were barred from applying for retail licenses to avoid the formation of syndicates that could lead to over-charging and brand pushing.
Bids worth 90 billion rupees (US$1.1 billion) were received at the time. Delhi last year revoked the policy, and liquor is now only sold via government-run shops.
The allegation against Pernod is part of a broader probe by the Enforcement Directorate into alleged irregularities in the implementation of the policy by retailers, politicians, and individual businesspeople.
This is the second dispute Pernod Ricard is with the Indian authorities since being implicated in undervaluing imports that led to a US$250 million fine.
Pernod counts India as a key growth market where it has a 17% share. While the market share for New Delhi alone was not available, industry sources say the capital is critical for any company, as it is an affluent and urban tourist hub that serves as a showcase market.
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