India: United Spirits extends timeline for completing "strategic review" of its select popular brands by 3 months
Diageo-controlled United Spirits Ltd (USL) has extended the timeline for completing the "strategic review" of its select popular brands, by another three months till March 31, 2021, Zee Business reported on December 27.
The review of the selected popular brands, which consist of a portfolio of around 30 brands, will now be completed by March 31, 2022, informed USL in a regulatory filing.
"On February 23, 2021, we initiated a strategic review of selected popular brands. This strategic review is ongoing and is considering all options to deliver sustainable long-term profitable growth. The review is expected to be completed by March 31, 2022," USL said on December 27.
Earlier, on February 23, USL has said the strategic review is "expected to be completed by the end of the calendar year 2021".
This strategic review does not include the McDowell's or the director's special trademarks, USL had said earlier.
USL's popular portfolio comprises around 30 entry-level lower-priced brands, with an average consumer price less than Rs 400 for a 750 ml bottle and straddle whisky, rum, brandy, vodka and gin.
Under the strategic review, USL will therefore assess all options to continue this approach while taking into account the potential impacts of each.
Earlier, USL had licensed several economy brands such as Bagpiper whisky and Celebration rum to regional bottlers in return for annual royalty payments in several states.
The Bengaluru-based company is the country's leading beverage alcohol company and a subsidiary of the world's leading spirits maker Diageo plc, the maker of Johnnie Walker, Vat 69, Captain Morgan.
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