Reuters exclusively revealed that New Delhi has rejected Pernod Ricard’s (PERP.PA) application to renew its liquor sale license, citing ongoing investigations into the company – the latest blow to the French spirits giant in the critical growth market of India.
Government
New Delhi city refuses to renew Pernod’s liquor sale license, cites probes
18 April 2023, 4:35 pm 1 minute
Market Impact
The company counts India as a key market where it has a 17% share and competes with Diageo (DGE.L). While the market share for New Delhi alone is not available, industry sources say that as an urban tourist hub, the city serves as a showcase market for premium brands, making it critical for any liquor company.
Article Tags
Topics of Interest: Government
Type: Reuters Best
Sectors: Government & Public ServicesRetail & Consumer Goods
Regions: Asia
Countries: India
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
