Liquor maker Globus Spirits Ltd plans to launch premium brands in the country in partnership with international firms as it looks to expand India Made Foreign Liquor (IMFL) portfolio.
"...The company is in discussions with foreign partners for launch of IMFL brands in the premium category. However, these are still at an early stage," Globus Spirits Ltd (GSL) Vice President Shekhar Swarup said.
The company entered the branded IMFL business in 2007 and since then has launched four major brands--Hannibal Rum, White Lace, County Club and French Castle in India.
For the year ended March 31, 2012, GSL sold over 7 lakh cases of IMFL brands in the country.
He said the company is looking to expand reach in India for its IMFL brands in order to increase sales.
"We plan to create a large marketing and distribution network with existing brands and enter newer states -- eastern regions of India where the penetration of alcohol is lower," Swarup said.
Currently, the company's distribution network covers eight states, including Haryana, Rajasthan, Delhi, Himachal Pradesh and Andhra Pradesh.
GSL, which also sells various brands in Indian Made Indian Liquor (IMIL), is also pursuing opportunities to set-up a greenfield or brownfield distillery in the eastern part of India where the alcohol penetration is low.
"This would allow the company to enter the IMIL markets in these states and aggressively grow by leveraging its experience in this segment,"
For the year ended March 31, 2012, the company's net sales stood at Rs 555.22 crore. Its net profit of the year stood at Rs 40.89 crore.
Shares of Globus Spirits today closed at Rs 92.50 on the BSE, up 0.33% from its previous close.