The Hindu Business Line : Moet Hennessy seeks to grow Indian market

LUXURY wine and spirits company Moet Hennessy says it is cautiously optimistic about India. Mr Ashwin Deo, Managing Director, Moet Hennessy India Pvt Ltd told Business Line that though the consumer base for premium wines was growing, market accessibility was still a constraint here.

Six years ago the consumer base for premium wines stood at 60,000 per annum and the figure now hovers around 2 lakh. Though imported wines clock about 1 lakh cases per annum and 15 per cent of this comes from premium wines, high import duties are impeding growth.

As Mr Deo pointed out, a bottle of premium wine would carry a price tag of about $34 (Rs 1,550) at the airport duty-free shop, and would cost about Rs 5,000 at a hotel and about Rs 4,000 at a retail outlet. "Home consumption is a big market in India with almost 80 per cent of the spirits being consumed at home and such prohibitive pricing is not helping the market grow," says Mr Deo.

Moet Hennessy India, part of the French group Louis Vuitton Moet Hennessy (LVMH), markets its brands at select hotels, restaurants, retail outlets and clubs across the country. Apart from super-premium wines, LVMH also markets premium vodkas, cognacs and champagnes in the country. The brand portfolio includes Dom Perignon, Moet and Chandon Brut Imperial Rose, Veuve Clicquot Brut Yellow Label Champagnes and Cognac Hennessy XO, Hennessy VSOP & Hennessy VS and the recently introduced Belvedere luxury vodka.

Apart from the premium wines owned by Moët & Chandon and Veuve Clicquot the company also represents some agency brands here.

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