COVID-19 impact: Spirits category resilient; sales will bounce back, says Diageo

Sales will bounce back rapidly once things open up, said Anand Kripalu, MD & CEO (outgoing) of Diageo India, on Tuesday.

Speaking in an interview with CNBC-TV18, he said, “The thing about our category (spirit) is that it’s very resilient, it bounces back very quickly. Therefore, when there are lockdowns and barriers to the ability to access our products and brands then obviously sales get impacted, but the moment the shutter open or home deliver starts the category bounces back and bounces back rapidly.”

On cash flow, he said, “Cash was an important part. Cash is king or queen in today’s parlance and it’s even truer during the pandemic, but for me cleaning up was more than the business. It was the ability to prove that business can be done with the ultimate standards of governance, ethics and transparency.”