French spirits major Pernod Ricard witnessed a strong growth of 19 per cent in the Indian market in March quarter on the back of a "solid premiumisation” in its portfolio.
Some of its key brands such as Royal Stag, Blenders Pride and 100 Pipers had a very dynamic performance in the domestic market, the company said in its Q3 FY22 sales data released on Thursday.
The company follows July-June financial year. International premium brands particularly Jameson, Ballantine’s and Absolut had an ”outstanding growth”, the company said.
International premium brands particularly Jameson, Ballantine’s and Absolut had an "outstanding growth", the company said.
Even for the last 9 months (three quarters) sales in the Indian market, Pernod Ricard recorded 19 per cent growth, it added.
The Indian market has "strong growth, continuing with solid premiumisation trends,” the French spirits major said in the presentation of the results.
In China, Pernod Ricard reported a growth of 8 per cent for the third quarter and 12 per cent for the nine months ended March.
In that country, it has continued "very strong" development of key brands such as Glenlivet, Royal Salute and Absolut.
For the nine months of FY22, Pernod Ricard logged total 8.40 billion euros sales, with organic growth of 18 per cent.
"Our Q3 was very strong and continues the broad-based performance we enjoyed in the first half, with all our regions and Must-win markets showing very strong growth,” Pernod Ricard Chairman and Chief Executive Officer Alexandre Ricard said.
Pernod Ricard is the world’s second-largest wine and spirits organisation and its portfolio comprises over 200 premium brands, including 100 Pipers, Chivas Regal, The Glenlivet, Absolut, Havana Club and Jacob’s Creek.It also owns Indian brands such as Blenders Pride and Royal Stag.