Demand revival strong; super premium portfolio growing at double-digits: Diageo India

Hina Nagarajan, MD & CEO of Diageo India, on Friday, said that the super-premium portfolio is about 20 percent of sales and it is growing at double-digits.

Diageo-owned United Spirits, the leading beverage alcohol company, reported strong earnings for the September-ended quarter.

“That (super premium) is about early 20 percent in our portfolio and it has been growing at high double-digits because our strategy is to accelerate luxury and premium, given that we are going to have a real increase in the number of high networth individual (HNI) households in the country. We do expect that this will grow faster as it has in the past, and become of greater salience,” Nagarajan said in an interview to CNBC-TV18.

On demand, she said, “Demand is coming back after the second wave of COVID-19. So, we feel very positive and confident about the momentum, going forward.”

“The consumer sentiment is positive with a high vaccination rate. Our customers expect to have full occupancy during the festival season. We are already seeing an uptick in trade. The only thing, I would say, is that given the different ways of working now, office-hour get-togethers have become fewer and weekend hangouts have become higher, but overall it looks very positive. We are very confident about the momentum in the third quarter,” said Nagarajan.

For the entire management interview, watch the video