12,352.35-3.15
Stock Analysis, IPO, Mutual Funds, Bonds & More

FWM to bring Italian luxury wines to India

The luxury brand of Italian wines Ferragamo will be launched in India later this month as Mumbai-based wine distributor.

, ET Bureau|
Nov 05, 2008, 03.43 AM IST
0Comments
PUNE: The luxury brand of Italian wines Ferragamo will be launched in India later this month as Mumbai-based wine distributor Finewinesnmore (FWM) is planning to import five labels exclusively across Marriot hotels in the country.
Founder and chief executive officer of FWM Dharti Desai said the company will launch four red and a white wine in the luxury and premium category on November 19.

The luxury wines will be available in duty-free and duty-paid categories. Ms Desai said: ���The luxury wines will cost in the range of Rs 5,000 - 7,000 (duty free) and Rs 15,000-20,000 at paid and consumer price.���

According to a recent study by International Wine & Spirits Record, wine consumption in India, which is an emerging market for luxury wines, is likely to touch 188 lakh litres by 2011 from 60 lakh litres in 2006.

The metro cities, such as New Delhi, Mumbai, Chennai, Kolkata and Bangalore are among the major cities that account for nearly 80% of the country���s wine sales.

FWM is targeting a sale of 10,000 cases of Ferragamo wines by the end of the current financial year to boost its revenues by 30-40%, Ms Desai said. FWM also markets luxury wines brands Donnafugata & Cerretto from Italy and Chapoutier from France.
Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service