India Glycols Limited (IGL) (NSE: INDIAGLYCO) (BSE: 500201), today announced its foray into the premium alcoholic beverages market in India. The specialty chemicals to beverages major that manufactures a range of Indian Made Foreign Liquor (IMFL) brands in the regular segment has partnered with the Bangalore-based Amrut Distilleries (Amrut) for manufacture, distribution and sale of select Amrut brands in the premium segment across markets in North India.
IGL has entered into a brand licensing agreement with Amrut, makers of internationally acclaimed Indian single malt whiskies, gin as well as rum. Under the agreement, IGL has acquired the rights to produce, sell and distribute Amrut’s leading brands MaQintosh Whisky, Old Port Rum, Bejoice XO Brandy and MaQintosh White Label Whisky in north India markets. While MaQintosh whisky has been popular for its unique blend, Amrut’s Old Port Rum is one of the biggest rum brands in the world.
Amrut will supply and monitor the blend and ensure that its accredited vendors maintain supplies of packaging materials of prescribed quality standards to IGL. In turn, IGL will build the Amrut brands and maintain their high quality standards in terms of product composition as well as brand expression in the northern markets.
Mr Raju Vaziraney, Advising President IMFL, IGL said “the objective of this move is to leverage IGL’s strength in the sector at a time when the demand for premium alcobev products is at an all-time high. Through this partnership with Amrut, IGL plans to capture a double-digit market share in the relevant premium segment over the next couple of years.”
India remains a predominantly brown spirits market with whisky accounting for more than 58 per cent of the Indian Made Foreign Liquor (IMFL) consumption. Rum and brandy also account for a sizable share of the pie. “Amrut has all these products in their premium portfolio. It is against this backdrop that we chose to associate with the House of Amrut for our premium foray”, Mr Vaziraney added.
IGL’s state-of-the-art distilleries at Kashipur (Uttrakhand) and Gorakhpur (Uttar Pradesh) produce high quality ENA, both facilities also use ENA for captive consumption to make regular range liquor brands such as Soulmate Whisky, Amazing Vodka and Zumba Lemoni Citrus White Rum. The Soulmate Whisky sold over a million cases last year.
“The agreement with Amrut completes a brands portfolio of IGL. The company will now focus on wider product range and direct resources to make IGL a major player in premium alcobev segment as well,” Mr Vaziraney said.
