The bourgeoning Indian wine market is witnessing a bitter battle with the entry of imported brands. Cinemawalla, the $100 million plus US-based corporate group, is the lastest entrant, with exports of leading Argentinean wine brands. The company, which has tied up with Aspri Spirits, an Indian liquor distributor, to market the brands Borbore and Martin Fierro in India, plans to launch its other brands from Argentina in India soon. Further, if its proposed buyout of vineyards in Texas fructifies, an additional 5-6 brands will also be added to its Indian wine product portfolio.
Cinemawalla, which has operations in sectors such as film production and steel, had acquired a minority stake in an Argentinean vineyard in 2005 and joined with its partner, exporting to all Latin American markets as well as the US. It has 15 varieties under different brands. Apart from the newly launched brands, it has been exporting other brands such as Aya, Avanti and La Pasion. Sutapa Ghosh, president, Cinemawalla, told FE, ?There is a potential growth for the Indian wine market as people are more aware of the different wine brands and also want to consume those varieties.
The market in Argentina has changed now and is open for export, which could help us to bring well-known brands to India.? The company is learnt to have started the final negotiations to acquire a vineyard in Texas, with at least 5-6 brands in its portfolio. Jackie Matai, promoter of Aspri Spirits said, ?We prefer country specific promotion for Mart?n Fierro and B?rbore in India.? There are 5-6 Argentinean brands such as Terrazza, Norton, Catena Zapata and Finca are already available in India. The products are ranged between Rs 1,340 to Rs 1,640 for a 750 ml bottle in Maharashtra.