Suntory creates Indian division
Japanese drinks firm Suntory has established an Indian subsidiary to accelerate spirits growth and enhance its presence in the market.
The establishment of Suntory India aims to cover corporate functions that are needed to build a ‘firm business foundation’, the company said.
In addition to supporting its existing spirits business, the new division seeks to create opportunities for soft drinks, and health and wellness in the market.
“We are delighted to unveil a new base of Suntory Holdings in India, a country with a large population and a rapidly growing economy,” said Tak Niinami, president and CEO of Suntory Holdings.
“India is a remarkably attractive market and a key geopolitical player on the global stage, with strong cultural and economic ties with Africa, the Middle East, and Asia.
“Together with our spirits business, Suntory Global Spirits, we will enhance our presence as a multifaceted beverage company in this vital market by supporting our soft drinks and health and wellness businesses to build foundations in India through investments and partnerships.”
The Indian division will be led by managing director Masashi Matsumura, with its office in DLF Cyber City, Phase II, based in the city of Gurgaon.
The new subsidiary will begin operations in July.
In 2019, Suntory Global Spirits’ former CEO, Albert Baladi, set “billion-dollar goals” for China and India by 2030. At the end of 2019, the company created a blended whisky brand for the Indian market that combines Scotch and Bourbon, called Oaksmith.
In the group’s financial results for 2023, sales in the international region – which includes Europe, Latin America and India – rose by 8%, led by global travel retail. However, it noted a ‘challenging environment’ in North America, India, China and Spain.
The company’s spirits arm was formerly known as Beam Suntory.
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