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Bacardi to break even in 4 years, says official
UNITED NEWS OF INDIA
New Delhi, May 3: Riding on launches of its dark rum and whisky brands, Bacardi-Martini India Ltd (BMIL) expects to break even on its investments in India within the next three to four years, a senior company official said."We have already invested around Rs 100 crore in our unit in India and hope to break even on investments over the next three to four years," Bacardi-Martini India general manager (marketing) Mahesh Madhavan, said here.BMIL, he said, is planning to introduce its dark and aged rums as also its whisky and gin brands in India. "We are studying the market now and hope to get them to India once the restrictions are removed, that is, post WTO." The brands being explored for India include Bacardi Limon, Bacardi 8, Select and Solera among rum, Dewars white label whisky and Bombay Saffire gin. However, there are no plans to bring in its Tequilla brand in India. With these launches in place, the company hopes to attain a 25 per cent market share over the next three years. The company currently controls 12 per cent of the 1.3 million cases premium spirits market. BMIL is a 74-26 joint venture between Bermuda-based Bacardi Ltd and Gemini Distilleries of Mysore. As part of its brand promotion exercise, the company has joined hands with several Internet portals for hosting its dedicated Bacardi zone within the websites. It has already tied up with hungama.com and are in talks with several others, including wahindia. Over the next few months, we will be tying up with several other websites for hosting similar zones," he added. The Bacardi zone, he added, would feature information about the various brands available with the company. "A whole lot of music, fun and games would also be associated with the zone." Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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