India: Latest beverage news & analysis
It's not every day that one can accuse the world's biggest spirits producer of being a bit stupid, but my peers in India are making hay today, doing just that. But, before wading in against Diageo and the call by its United Spirits unit in India for chairman Vijay Mallya to stand down, ask yourself this one question: What difference does it make?
Finally, after a near four-month delay United Spirits reported its full-year results today.
Finally, after almost 20 months, Diageo has got what it initially wanted in India. The company today (2 July) confirmed it now holds the majority of shares in United Spirits. This achievement, however, has cost way more than Diageo initially expected; to the tune of around US$1bn.
As expected, Diageo has stepped up its bid to take majority control of India’s United Spirits Ltd (USL). The UK-headquartered company has launched a tender offer for a further 26% stake in the UB Group unit, which, if successful would raise its stake to around 55%.
A survey of consumers in India has revealed that alcoholic beverages may have the most to gain from high levels of optimism in the country.
United Spirits sales jumped 13% in the first nine months of its financial quarter, with more than half of that coming from Diageo brands.
The Coca-Cola Co has deepened its presence in India's dairy market with the test launch of flavoured milk Vio.
United Breweries has launched Kingfisher Buzz as it targets Bacardi's dominance in India's RTD market.
The popular Indian tourist destination of Kerala state started the new year with hundreds of bars remaining closed, after a Supreme Court ruling upheld the state government’s ‘partial prohibition’ policy.
Indian private bank Yes Bank has offloaded its 3% holding in United Breweries.
Tata Global Beverages has appointed Sumi Ghosh as the new CEO of its Indian joint venture with Starbucks.
Diageo's Indian spirits unit, United Spirits, has said it is reviewing its Smirnoff Ice strategy amid media reports it has halted production.
The Coca-Cola Co has said it would have "no option" but to close factories in India if a proposed "sin tax" on CSDs is introduced.
Diageo's United Spirits division is set to act as corporate guarantor for a US$15m loan to Pioneer Distilleries.
Carlsberg has said it aims to be number two in the Indian market.
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