Indian wine makers are expecting a rise in sales in the peak months between October 2009 and March 2010. Although sales declined in the first four-five months of the year beginning April, the Mint newspaper quotes Rajeev Samant, chief executive of Nashik Vintners (Sula) as saying: “the last two months have been superb.”
Sula claims to have sold 30,000 wine cases in October this year, up 50% from 20,000 cases sold last October.
“The season is looking good,” said Ranjit Chougule, managing director of Indage Vintners.
Chougule is optimistic despite exiting the Delhi and Karnataka markets after mounting debts and financial troubles at his firm. Though Samant said his sales are growing faster than the industry due to the market share vacated by Chateau Indage.
The peak season from October to March covers Dusshera, Diwali, Christmas and New Year, and ends with companies closing their fiscal year. The period accounts for 60-70% of annual wine sales in India.
Wineries are more confident now. With the economy hinting at a revival, and tourism and the hospitality business rebounding, wineries see a 10-20% increase in sales during the peak season. For fiscal 2009-10, they expect the wine market, which had been growing at 25% for four straight years before 2008-09, to post a modest single-digit rise.
