Diageo PLC's Indian subsidiary United Spirits Ltd. is aiming to expand its business from new products and variants to account for about 10% of its overall operations within four years, Mint reported Dec. 26.
United Spirits, or USL, wants to double that portion of the business from its current share of about 5%, the report said, citing Julie Bramham, the company's head of India marketing.
Such a move would help USL catch up to Diageo's other international operations. By comparison, new products and variants comprise about 17% of the U.S. business, approximately 10% of the European business and about 24% of the African business.
The Indian alcoholic beverage company has introduced three variants in recent years, including Captain Morgan original rum, McDowell's No. 1 Luxury and Black & White 12-year-old whiskey.
Bramham told Mint that USL would continue with product innovations for the Indian market, targeted at brands such as Captain Morgan and McDowell's Platinum.
Earlier this year, USL acquired a 26% stake in digital payments startup Hip Bar Pvt. Ltd. to support its expansion plans.