MARKET TALK: 'Good Times' For India's Spirits Brands -WSJ BLOG

9th Jul 2010 08:55

0755 GMT [Dow Jones] Cost conscious Indian consumers helped trio of domestic spirits brands grow sales in 2009, even as global economic downturn hurt competitors overseas, according to Euromonitor International report. "Trading down [from more expensive international brands] was a key factor in the growth of [Indian] domestic/local brands, which posted an increase of 6% in 2009," while multinational companies saw sales fall by 5%, said Euromonitor report. Three Indian brands made top ten, up from two last year, as UB Group's whiskeys 'Bagpiper' and 'McDowell's No.1' joined by Officer's Choice from Blenders & Distillers. Bagpiper was world's top selling whiskey, beating Diageo's (DEO.LN) Johnnie Walker. UB Group president and CFO Ravi Nedungadi notes new, young consumers coming onto market, older consumers trading up from unbranded "country liquor;" adds, "A combination of growing lifestyle aspirations, growth of jobs & disposable income, together with the breakdown of cultural baggage all propel growth." See: =WSJ BLOG/India Real Time: India Spurs 'Good Times' for its Alcohol Brands ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires July 09, 2010 03:55 ET (07:55 GMT)