Louis Vuitton Moët Hennessy is betting big on premiumization in India, and recently expanded its portfolio by entering the premium tequila category with Volcan de Mi Tierra, said Ipsita Das, MD, Moët Hennessy India. It is expanding, he told ETRetail.
The launch features an exclusive lineup including the Blanco priced at Rs 10,267, Reposado priced at Rs 12,198, Cristalino priced at Rs 15,967 and the special Volcan XA priced at Rs 39,107.
“We are riding the wave of how India is catering to the desire for absolute luxury. We are seeing consumer expectations rise as we look beyond what is in the bottle. We are excited to bring many premium products to India, because we believe this is the perfect time for Indians to experience what they would experience in the West. Because there are,” she said.
“Innovation is a big part of our DNA. We will continue to innovate to meet the demands of the Indian luxury consumer,” she further added.
Currently, this premium tequila is available in three markets and airports – Mumbai, Goa and Gurgaon, and will soon be available in Delhi and Kolkata.
“As we build this category in India, we want to focus on these five markets, which account for 75% of consumption,” she said.
Rooted in over 300 years of tradition and passion, Volcan de Mi Tierra continues the time-honoured tradition of the Gallardo family. The roots of the Gallardo family’s tequila production process date back to 1774 at the famous Hacienda La Gavillana in Jalisco, Mexico.
“With more than 2,200 tequila brands from 169 distilleries in Mexico, Volcan stands out as one of only five additive-free single-nominal distilleries that are 100 percent additive-free.” she further added.
The company expects contributions from this category to be in the single digits for the first few years.
However, over the past five years, the company has achieved nearly 25-30% revenue CAGR in the whiskey segment, making India one of the top three markets globally for Moët Hennessy.
Similarly, the sparkling wine category has a 60% value share in the relevant price category.
“In Cognac, we are the market leader with around 60 per cent market share, with a growth of 17 per cent in FY22-23.In Champagne, we are the market leader with almost 90 per cent market share. , we have seen a growth of over 20 per cent during FY22-23,” she asserted.
Over the next five years, the company plans to focus its efforts on creating opportunities for consumers to create formats and create the right kind of appeal across categories.
“Tequila is showing almost 50 percent growth and we expect overall growth to be between 10 and 17 percent,” she concluded.
