INDIA – Japan’s Suntory Holdings has announced the establishment of a new division in India, Suntory India Private Limited, to accelerate growth within the region.
The new company, set to commence operations this month, will cover corporate functions necessary to build a robust foundation for Suntory’s spirits business while exploring opportunities in the soft drinks and health and wellness sectors.
Tak Niinami, President & CEO of Suntory Holdings, expressed enthusiasm about the new venture.
“We are delighted to unveil a new base of Suntory Holdings in India, a country with a large population and a rapidly growing economy. India is a remarkably attractive market and a key geopolitical player on the global stage, with strong cultural and economic ties with Africa, the Middle East, and Asia.
Together with our spirits business, Suntory Global Spirits, we will enhance our presence as a multifaceted beverage company in this vital market by supporting our soft drinks and health & wellness businesses to build foundations in India through investments and partnerships,” he said.
The new division will be headquartered in Gurgaon, a city bordering New Delhi to the southwest, known as a technology hub. Masashi Matsumara, the former general executive manager of Suntory Flowers in North America, will lead the division as managing director.
Suntory’s focus on India aligns with its broader strategic goals. In 2019, former CEO of Suntory Global Spirits, Albert Baladi, set ambitious “billion-dollar goals” for China and India by 2030.
To capture the Indian market, Suntory introduced a blended whisky brand called Oaksmith, combining Scotch and Bourbon.
Earlier this year, Chief Executive Takeshi Niinami highlighted India’s priority in Suntory’s expansion plans while expressing caution regarding business in China due to concerns over spy laws affecting foreign workers.
In addition to the India expansion, Suntory plans to open its flagship beer bar, The PREMIUM MALT’S HOUSE, in select cities globally over the next two months.
This initiative aims to offer consumers an immersive experience to understand the value and uniqueness of The Premium Malt’s beer.
Suntory’s international sales, including regions like Europe, Latin America, and India, rose by 8% in 2023, driven by global travel retail. However, the company noted a challenging business environment in North America, India, China, and Spain.
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