Brands
Bacardi’s survival ingredient: Localisation
MUMBAI: Localisation is the key factor to survive, today. As more and more brands, channels and groups enter different markets in the globalised world, they need to adapt according to the local flavour.
The reason behind it is simple: give people what they can easily relate to.
And keeping this in mind, Bacardi has launched two falvours for the Indian palate – Aam Panna and Nimbu Paani – for its low-alcohol ready-to-drink brand, Breezer.
The company which believes in leading the way in innovation; be it in product formulation, packaging or creation of unique concepts and brand properties, with Breezer Indi Mix, it continues the trend. This also makes it the first example of a global spirits brand introducing local flavours in India. “Indi Mix was created based on our research which showed that Indian consumers love our current flavour range but at the same time are also keenly interested in new variants based on familiar flavours. Aam Panna and Nimbu Paani are well-known and well-loved coolers which tap into consumer experiences and memories, and therefore, we have chosen them as the first two flavours,” says director sales & marketing Manish Seth while elaborating that it will continue to innovate and beguile the customers by launching unique properties and flavours.
India is among the key emerging markets for the company and is going to be an important source of volume growth in the coming years. By 2020, India will have the youngest population in the world with an average age of 29. Low per capita consumption compared to other countries is also expected to help. According to IWSR India is also the third fastest-growing market for international brands.
The two new flavours are currently available across Haryana, Maharashtra, West Bengal, Goa and Karnataka. Rest of the cities can expect to have these summer coolers available very soon with another eight locations launching in the coming month.
Apart from this, to mix with its TG, the company which recently introduced ‘BACARDI Untamable Since 1862’, a massive global identity shift, a tribute to Bacardi’s remarkable history hailing across 152 years, will integrate with its flagship musical property Bacardi NH7 Weekender.
Recently, it also tied up with MTV in conjunction with the launch of MTV Splitsvilla. “We look forward to announcing exciting activations across India as well unique digital innovations this year. We will also be releasing the new series of the cult brand property ‘The Dewarists’ as well as hosting season 3 of Grey Goose Style Du Jour (India’s only style forecasting event),” says Seth adding that digital marketing for Bacardi remains to be the staple feature across all properties.
As per various media reports, Bacardi enjoys 97 per cent monopoly in the low alcohol RTD. Many came and went. Take United Breweries’ Shotz and Cruiser, for instance, launched a decade back got a tepid response from the 2.5 million sized market and hence, had to be withdrawn.
This only proves the old-ad adage, when in Rome, do what the Romans do!
Brands
Oyo parent Prism appoints former Sebi chief Ajay Tyagi to Board
Former market regulator joins Prism to strengthen governance for IPO
NEW DELHI: Prism, the parent entity of Oyo, has appointed former Sebi chairman Ajay Tyagi as an independent director, as the hospitality firm gears up for its planned Rs 6,650 crore initial public offering (IPO).
Tyagi, a 1984-batch IAS officer, served as chairman of the Securities and Exchange Board of India (SEBI) from 2017 to 2022. His appointment is aimed at strengthening the company’s governance framework and providing strategic oversight as it moves closer to a public listing.
He joins a high-profile board that already includes several prominent names from global business and policy circles. These include Troy Matthew Alstead, former CFO and group president of Starbucks; Aditya Ghosh, co-founder of Akasa Air; Deepa Malik, paralympic athlete and Padma Shri awardee; William Steve Albrecht, professor of accountancy at Utah State University; and Bejul Somaia, partner at Lightspeed Venture Partners.
Prism founder Ritesh Agarwal, said Tyagi’s experience in capital markets regulation and public-institution stewardship will be critical as the company scales operations and enhances long-term accountability.
The company recently filed preliminary papers with Sebi to raise Rs 6,650 crore through a confidential route. Market sources estimate its valuation will be in the range of $7 billion to $8 billion.
Over the course of his career, Tyagi has held senior roles in the ministry of finance, where he oversaw investment policy and financial-sector reforms. His induction to the Prism board signals a renewed focus on aligning the company’s internal standards with the stringent requirements of public markets as it advances toward its IPO.
