By Puja Gupta
New Delhi, Oct 24 (IANSlife) Kentuckys premium bourbon brand Woodford Reserve — a product of the Brown-Forman Corporation — recently introduced its limited Baccarat Edition in India. Its the first launch for the Baccarat edition in the IMENA (India, Middle East and North Africa) region.
Priced at $1,500 a bottle, the offering is available exclusively in Delhi Duty-Free Store. Makers of the spirit believe that they have the right portfolio in India to target the different consumer tastes and preferences in the country.
In an interview with IANSlife, Siddharth Wadia, General Manager, IMENA, Brown-Forman, shares more about the collaboration, the market in India, travel retail scene in India and an ideal setting to savour their new offering.
Tell us more about this collaboration.
Woodford Reserve Baccarat Edition is where history and heritage meet innovation and sophistication. The collaboration between Woodford Reserve and Baccarat celebrates the renowned traditions of the classic French elegance and American spirit. The product showcases exceptional craftsmanship — as crystal makers and distillers, Baccarat and Woodford Reserve both take raw materials and create masterpieces.
These two celebrated brands have partnered to create a singular item that highlights their legacies. The stunning bottle design is meant to evoke the iconic Woodford Reserve bottle silhouette and is engraved with both Woodford Reserve’s and Baccarat’s iconic logos. It is presented in a signature Baccarat red box and includes a crystal stopper adorned with Woodford Reserve’s initials.
How do you see the travel retail scene in India?
The Travel Retail Sector in India is a massively lucrative market for a few reasons. Firstly, airport retail in India has been growing at a high rate owing to an increase in passenger number. Additionally, Indian passengers are also spending more in the travel retail sector with an increase in purchasing power thereby impacting the revenue in the positive.
We also see the Indian passengers’ evolution in the brands they are seeking and the movement up the ladder towards more premium products. With that comes a great demand for products with a legacy of craftsmanship and luxury items.
On the other hand, when it comes to the alcohol industry, the taxes in the local market are so high that the consumers prefer to buy from the duty free channel to leverage the savings and often are seen upgrading to a more premium version of what they generally purchase.
How is American Whiskey liked all across?
American whisky is growing globally, with over 50 million cases sold globally with a revenue of $16 billion, the category is just about picking up the momentum to become the next big trend. Within the AW category, the super-premium AW is growing the fastest, particularly with consumers premiumising every day. Consumers today are more informed and want to experience new flavors, new experiences and American Whiskey category drives exploration and discovery in an energetic way.
How do you see India as a market?
India is one of our key markets globally and has shown consistent growth for us. Some of the key factors driving this growth are the increasing disposable incomes, experimental spirit, exposure to global brands, aspirations to upgrade to the next best and the sense of individuality. The consumers today want to challenge new trends and try the bolder things in life. We also believe that we have the right portfolio in India to target the different consumer tastes and preferences in the country.
How according to you the Indian market has grown when it comes to drinks like the Woodford Reserve Baccarat Edition?
Woodford Reserve Baccarat Edition appeals to the more contemporary audience and evolved whiskey connoisseurs alike that are now exploring the world of complex whiskeys and finer experiences. This market, consisting of consumers seeking super-luxury products that offer one-of-its-kind experience is steadily growing in India, and that augurs well for such products.
Tell us five different occasions to savour Woodford Reserve Baccarat Edition.
Woodford Reserve Baccarat Edition can be enjoyed on diverse special occasions from a celebration with friends and family to an amazing culinary adventure of flavors. The beautiful bottle and delicious whiskey is also a great gift idea for the holidays or weddings.
(Puja Gupta can be contacted at [email protected])