New Delhi city refuses to renew Pernod’s liquor sale license, cites probes – Reuters News Agency
18 April 2023, 4:35 pm 1 minute
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.
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.
Topics of Interest: Government
Type: Reuters Best
Sectors: Government & Public ServicesRetail & Consumer Goods
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
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