INDIA: Radico reveals Diageo venture
Indian spirits group Radico Khaitan has announced a joint venture with Diageo to develop Indian Made Foreign Liquor (IMFL) brands.
The deal marks Diageo's latest attempt to develop Indian spirits brands after selling its IMFL business four years ago.
Radico said today (21 August) that the venture was subject to regulatory clearance but declined to reveal the financial details behind the agreement.
"The proposed venture will bring together the strengths of the two companies in brand marketing and distribution to create innovative international quality products for the consumer in the IMFL segment," Radico said.
The company added that both it and Diageo would continue to sell their own respective brands in India. Diageo-owned brands including Smirnoff, Johnnie Walker and Ciroc vodka are already sold in India.
Officials at Diageo could not be reached for comment as just-drinks went to press.
In the last year, Diageo has flagged India as one of its key emerging markets alongside Brazil, Russia and China.
With European markets becalmed and continued economic uncertainty in the US, the emerging markets of Brazil, Russia, India and China have assumed even greater importance for Diageo. Richard Woodard as...
Diageo CEO Paul Walsh has today (15 February) praised the company's "strong start to the year" after the UK drinks giant posted rising first-half sales and earnings....
Diageo is to invest heavily in its Scotch whisky operations, as well as build a new distillery in the country....
Robust Champagne sales boosted profits at French luxury powerhouse LVMH Moët Hennessy Louis Vuitton, the company said yesterday (14 February)....
Canadian spirits group Corby Distilleries has reported a set of "solid" results for the first half of its financial year....
Central European Distribution Corporation is set to up its stake in Polish vodka company Polmos Bialystok....
US spirits group Sidney Frank Importing Co. is set to launch an assault on the US rum market with an "ultra-premium" offering from Barbados....
US spirits group Castle Brands has seen quarterly losses inch up on the back of increased marketing costs....
- Is Diageo on the Brink of a Brain Drain?
- SABMiller edges Diageo as beer trumps spirits
- Will Keurig Kold come to Coca-Cola Co's Rescue?
- Focus - SABMiller's FY Sales Performance by Region
- Focus - Indonesia: Prohibition in Paradise?
- Carlsberg exec joins Diageo as Africa chief steps
- Diageo YTD sales come in flat
- Heineken "concerned" as Indonesia enacts beer ban
- Bacardi hands global advertising to single agency
- Pernod Ricard unveils Havana Club ad campaign
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Bacardi Limited - Strategy and SWOT Report
- ALDI 2015: Radically transforming Anglo Saxon grocery markets
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review