NEW DELHI, Aug 10:  India is a high priority market for the leading Scotch whisky and premium spirits maker William Grant & Sons, with potential to become one of its top five markets globally in the coming years, a top company official has said.

  The family-owned premium spirits company, which owns various brands, including Glenfiddich, Monkey Shoulder, Balvenie and Hendrick’s Gin, entered India 10 years ago. And the growth in the country has been very promising, William Grant & Sons India Managing Director Sachin Mehta told PTI.

The Scotland-based premium spirits maker has unveiled ‘The Balvenie Fifty’, a 50-year-old ultra-rare Speyside single malt scotch whisky in the Indian market.

Only one bottle of ‘The Balvenie Fifty First Edition’ aged in a European oak refill cask, filled in 1973, has been made available in India, offering a unique opportunity for collectors and connoisseurs to own a piece of whisky history.

When asked about its price, Mehta said: “Balvenie Fifty is probably going to be in the range of Rs 70 lakh thereabouts”.

William Grant & Sons India operates in the premium alcoholic beverage segment, where its portfolio includes Glenfiddich, Monkey Shoulder, Balvenie, Grant’s and Hendrick’s Gin.

“And our latest addition is a brand called The Famous Grouse,” which has been added since July, he noted.

According to Mehta, India is among the top ten markets for William Grant & Sons and one of the few markets where it has established its own distribution company.

“It is one of the top priority markets within the global network of William Grant & Sons,” he said.

India is the largest whisky market globally, where the market is witnessing premiumisation, supported by various factors, like a growing economy, rising middle-class income, growing numbers of millennials and white collar professionals.

When asked whether India has the potential to become one of the top 5 markets for William Grant & Sons, Mehta said: “India certainly has a very large potential. The story of the potential that India has is not hidden, and everybody knows about it. And that is true across all categories. And so much so, even for the single malts and Balvenie. So surely, it can be one of the top markets”.

Moreover, factors like the recent free trade agreement between the governments of India and the UK, which, according to Mehta, is an “achievement” and the policies of the state governments in India are becoming “more and more progressive and consumer-friendly”, with an increasing ease of doing business.

India is already a leading market for major global spirits makers. It is now the largest market for French spirit maker Pernod Ricard by volume and the second largest by value. It is also a key contributor to the British premium spirits maker Diageo.

On its single malt brand Glenfiddich, Mehta said, “It’s one of the top-selling single malts in the country”.

“Similarly, India is one of the top priority markets for that brand (Glenfiddich) as well, like it is for the Balvenie and it is for the rest of our portfolio,” he added.

Besides, Mehta also expects growth from Balvenie, which operates in the premium side of single-malt whisky.

“India is a large whisky market, and there has been a lot of premiumisation. It really goes on to give us the confidence that our Indian consumer is now really looking for great value, and that value comes from aspirational brands like the Balvenie,” he said.

Earlier, Balvenie was available in selected cities only, as it is an allocated product to specific markets. However, with increased allocation, it is now available in more cities across India.

“We are able to increase the stock availability in India, and we are looking to make it available in more and more cities,” he said.

Besides, 50-year-old single malt scotch whisky, it has also amplified its play in the super premium segment – The Balvenie Thirty and The Balvenie Twenty-Five, both of which are available in a highly exclusive and limited release. (PTI)