New Delhi: Global alcoholic beverages firm Constellation Brands plans to launch a new wine brand Prosecco in the country this year as it expects India to be one of the biggest wine markets in Asia in five years.
"India is a key wine market and there is a huge opportunity (to grow). We want to make sure we have big footprint with the right brands. We will launch Prosecco in India this year," Joe Milner, Regional Director, Asia - Constellation Brands told PTI.
Sula Selections, the import arm of Sula Vineyards, markets Constellation Brands' Ruffino wines in India. Globally, 20 wine brands sold by Ruffino, out of which six-seven brands are available in India.
On bringing more wine brands in the country, Milner said: "In the near future we want to focus on the existing brands we offer in India, but we will launch more brands in a couple of years."
Elaborating on the India market, he said: "There is a huge opportunity to grow. There is young population which enjoy wine so growth will come. However, high taxes pose challenge but we expect India to be one of the biggest wine markets in Asia in five years."
Milner said that the company is investing in expanding distribution reach of Ruffino brands in the country.
