MAM
American Bourbons use innovation to drive growth
NEW DELHI: Flavoured whiskeys are internationally the fastest growing segment in the bourbon industry and the trend is soon catching up in India.
The growing affluence, international travel and increased brand awareness amongst Indian consumers and the increasing base of the legal drinking age (LDA) population in India, the industry is seeing regular shifts in consumer preferences. The curiosity and aspirational value of a scotch whisky is still relevant to younger consumers.
According to Nielson research, in 2012 flavoured whiskey accounted for nearly 75 per cent of growth among all whiskeys and 42 per cent of growth in bourbon.
In a major departure from its decades old marketing principles of remaining strictly tradition-bound and consistent in taste, bourbon brands are now experimenting with tastes to expand their market and customer base.
Jim Beam, from the house of world’s fourth largest liquor company Beam Global, for instance, has added new products that include a white whiskey called Jacob‘s Ghost, Devil’s Cut and Jim Beam Honey. The company believes that the move will expand both its presence on the shelves as well as increase its consumer base.
Jim Beam is no exception. World over major whiskey brands are increasingly shedding their past conditioning about sacrosanct blends and trying sweetening and flavoring their whiskies. And no wonder, the experimentation with taste is begetting them success.
In fact, Canada too has got into the act and most of its contributors are informed, predictably by maple syrup. Distillers around the world are sugaring and flavouring whiskeys. Red Stag, the cherry-flavoured bourbon released by Jim Beam in 2009 was a huge success and set the trail blazing.
A closer look into the factor that has encouraged these ‘cult’ brands to shun their inhibitions and emerge as ‘innovative’ and ‘out of the box brands’ shows that the customer and his aspirations have evolved.
MAM
PwC India announces leadership change in Deals practice
Shashank Jain steps down as co-leader after nearly three decades with the firm.
MUMBAI: When one dealmaker steps off the pitch, another is ready to take the baton because in the fast-moving world of transactions, the game never really stops. PwC India has announced a leadership transition in its Deals practice, with Shashank Jain stepping down from his role as co-leader to pursue an opportunity in the industry. The practice will continue to be led by Mohit Chopra, ensuring continuity and sustained growth momentum.
PwC India partner and leader for advisory dinesh Arora paid tribute to Jain’s contributions. “We deeply appreciate the significant contributions made by Shashank over close to three decades he has spent with PwC, particularly his defining role in shaping and strengthening our Transaction Services practice in India,” he said. Arora highlighted Jain’s support for clients through some of the most complex and significant transactions in the Indian market, noting his deep technical expertise, sound judgment and nuanced understanding of the evolving M&A landscape.
The Deals practice remains a key growth driver for PwC India, and the firm expects continued expansion under Mohit Chopra’s leadership. He will continue to guide clients through complex transactions and transformational business moments, building on the strong foundation established over the years.
Reflecting on his journey, Shashank Jain said, “I have had an exceptional journey at PwC. I owe my growth and learning to the nurturing environment and leadership development that PwC provided.” He added that he had been working closely with Mohit and the larger team to ensure a smooth transition and expressed confidence that Chopra would take the Deals practice to newer heights.
From intern to respected deals leader, Shashank Jain has clearly closed many successful transactions and now, it seems, he’s ready to strike a new deal of his own.
