homevideos Newsstoryboard18 NewsAs Indian's elevate their lifestyles, they will gradually incline towards high quality wines and spirits: Moët Hennessy
As Indian's elevate their lifestyles, they will gradually incline towards high-quality wines and spirits: Moët Hennessy
As India's luxury market evolves, Moët Hennessy is strategically positioning itself to cater to the changing preferences of Indian consumers. Philippe Schaus emphasizes the significance of India's rich cultural heritage and the growing interest in high-quality wines and spirits.
In an exclusive interview with Storyboard18, Philippe Schaus, the Chief Executive Officer of Moët Hennessy, the Wines and Spirits division of LVMH, sheds light on the company's performance in the Indian market, its innovative approach to consumer experiences in the post-pandemic era, and the significant role India plays in redefining Asia's luxury landscape.
Schaus acknowledges that while India is currently a relatively small luxury market, there are exceptions, such as Glenmorangie, in which the country stands as one of the five largest markets for the whiskey brand.
Recognizing the country's increasing wealth, Schaus believes that as people elevate their lifestyles, they will gradually incline towards high-quality wines and spirits. Moët Hennessy is committed to investing in the Indian market to capitalize on this potential development period.
The CEO highlights two key characteristics of the Indian luxury consumer. Firstly, India boasts a robust luxury culture, especially in the fashion world, where traditional dresses have evolved into modern versions while preserving incredible craftsmanship.
This unique blend of tradition and modernity sets India apart in the global luxury landscape. Secondly, Schaus notes that Indians acquire luxury from both domestic and foreign brands, with a significant trend of Indian consumers travelling abroad to shop.
He illustrates this point with the example of Moët & Chandon's Champagne Bar at Harrods in London, where a substantial number of customers are from India.
While the company currently lacks a similar setup in India, the international venture has proven to resonate with Indian patrons. The CEO highlights the trend of Indian tourists visiting Moët Hennessy's wineries in France, particularly in the Champagne region. Programs offering guided tours of wineries and explanations of the winemaking process have attracted a growing number of Indian visitors keen on immersing themselves in the world of luxury beverages.
Watch the accompanying video for the entire conversation.
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