Tuesday, 02 January 2024 12:17 GMT

Our Focus Is On Top End Of The Consumer Pyramid: William Grant India MD Kartik Mohindra


(MENAFN- Live Mint) William Grant & Sons, the world's third-largest Scotch whisky maker and the largest independent distilling company in Scotland, continues to strengthen its luxury portfolio in India.

Over the past year or so, it has introduced several premium expressions, including the Glenfiddich Gran Reserva 21-Year-Old, the Grand Château 31-Year-Old, and The Balvenie Rare Marriages collection.

Last week, the company unveiled a limited-edition Glenfiddich 16-Year-Old to mark its partnership with the Aston Martin Formula One Team. Its India portfolio spans Glenfiddich, The Balvenie, and Monkey Shoulder, alongside Hendrick's Gin.

The company has a new man at the helm - Kartik Mohindra, Managing Director of William Grant & Sons. Formerly chief marketing officer and head of global business development at Pernod Ricard India, he played a key role in expanding its premium portfolio and strengthening several of its leading brands.

In this conversation, Mohindra speaks about William Grant's India strategy, the evolving whisky landscape, and how the company is positioning itself amid the rise of Indian single malts.

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Limited-edition Glenfiddich 16-Year-Old What are your immediate priorities for expansion here? Distribution, new brands or consumer experiences?

All of the above. William Grant has built a really powerful business here in India. And as we all know, the Indian market is continuing to surge ahead. Premiumization is a reality globally - consumers are more aware and more discerning. All the tailwinds are there. There's no reason why the top end of the business, the luxury end, won't continue to see explosive growth. We've always played at the luxury end of the alcobev space. That part of the market is growing rapidly and expected to keep doing so over the next five to ten years. So, we're well-positioned to press forward and make our presence felt even more strongly.

When we spoke with your predecessor last year, he said he sees Indian single malts as a stepping stone to luxury malts such as Glenfiddich and The Balvenie. Do you agree?

I don't disagree with that assessment. But let me also give credit where it's due - Indian single malt producers have done a fantastic job. But the interesting thing will be how they build greater regulatory frameworks around the category, because“Indian single malt” as a designation is still new. Over the next few years, I'm certain they'll strengthen their position globally. Of course, when you compare it to Scotch, there's a head start. Scotch has centuries of legacy, craftsmanship, maturation, so Indian malts are still catching up.

Your competitors have launched their own Indian single malts and are setting up distilleries in the country. Is William Grant being a bit slow in moving here?

Too early for me to comment. What I can say is that we keep a very sharp eye on global trends. We have a long-standing heritage and authority when it comes to craftsmanship and premium spirits. The Indian single malt category is still nascent, but it's getting competitive, and we're watching that very closely.

Some Indian single malt makers feel the first drink of many young Indians today is an Indian single malt, not a Glenlivet or a Glenfiddich. How do you keep Glenfiddich relevant for this generation?

That's a bold claim. I'm sure they have their reasons, but my view is slightly different. The youth here are extremely experimentative. They don't stick to one category or one brand. Their repertoire is widening: whisky, gin, tequila, rum, everything is in play. The bigger shift we're seeing is that young consumers are more demanding of the brands they endorse. They want to know the process, the craftsmanship, the backstory. They want deeper, meaningful engagement. That's where our opportunity lies. Glenfiddich is the world's most awarded single malt. Sooner or later, the premiumization curve and the aspirational pull bring them back to brands like ours. If other categories are doing the recruitment for us, that's fine, because we know where the curve lands.

William Grant recently acquired The Famous Grouse. Will we see it in India?

Yes, in due course. Famous Grouse is a recent acquisition, and bringing it here will allow us to expand our portfolio across a wider cohort. But our focus remains on the top end of the consumer pyramid.

Globally, Scotch is under pressure. How will India help William Grant navigate these headwinds?

Every market has its own headwinds. China's are different, the US has its own issues. But India is the definitive whisky market today. It is the largest whisky market in the world, and that's only going to strengthen our global position.

Can you put some numbers to India's importance?

India is a top-priority market for us. Without getting into specifics, I can say we've been delivering strong double-digit growth year after year, and that's expected to continue. When you call a market“priority,” it means more expressions are coming in, more focus is coming in.

You're coming from Pernod Ricard. How are you going to reshape William Grant's India strategy?

This is a very different portfolio. At Pernod, I had to balance across categories and price points. Here, the focus is squarely on luxury and craftsmanship. The bedrock has already been laid by the team here. My role is to build on it - to take us past the tipping point, and place India where it deserves to be: among the most important markets for luxury spirits. William Grant has the portfolio, the heritage, and the craftsmanship. Now it's about making sure more Indian consumers get to experience and appreciate it.

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