Wine and spirits major Cutty Sark International has launched its premium blended malt scotch brand—Cutty Sark—in the Indian market through its local marketing partner with Focus Brands, part of the Jubilant Group.
"We see the maximum potential for growth in markets like Brazil, China, India and Russia and these are the countries where we are going to concentrate," said Peter Davie, commerical director, Cutty Sark International. "We expect a 20 per cent growth year on year in India."
A 750 ml bottle of the malt scotch will cost Rs 2,500 in India, more than double the price at which the company sells its blended scotch in the country now. The new product, Cutty Sark blended malt scotch whisky, is a blend of only single malt whiskies and has no grain whiskies in it.
The company currently sells around 16,000 cases of scotch in the country and plans to sell more than 50,000 cases in five years' time.
The market for scotch in the country is estimated to be 800,000 cases of which 200,000 cases are like Cutty Sark imported from Scotland.
"We will be bringing in more products in the country but it will all be imported from Scotland as it is a question of heritage for us," Davie added.
Imported scotch attracts an import duty of 150 per cent in the country.