Globus Spirits Shares Surge 7% Following Launch of TERAI Tequila
Globus Spirits shares jump 7% after launching CRT-certified TERAI Tequila
Business Standard
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Shares of Globus Spirits rose by 6.6% after the company launched TERAI Tequila, India's first CRT-certified tequila, produced in Jalisco, Mexico. The launch aims to cater to Indian consumers seeking premium spirits and is part of the company's strategy to expand in the luxury alcohol market.
- 01Globus Spirits shares increased by 6.6% following the launch of TERAI Tequila.
- 02TERAI Tequila is India's first authentic, CRT-certified tequila, bottled domestically.
- 03The tequila is produced in Jalisco, Mexico, using 100% Blue Weber Agave.
- 04Initial retail prices for TERAI Tequila range from ₹3,600 to ₹5,815 depending on the state.
- 05The launch aims to strengthen Globus Spirits' presence in the premium spirits market.
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Globus Spirits saw its shares jump by 6.6% on the Bombay Stock Exchange (BSE) after announcing the launch of TERAI Tequila, touted as India's first CRT-certified tequila. The shares reached an intra-day high of ₹939.4. The tequila is imported from Jalisco, Mexico, and bottled in India under the supervision of the Consejo Regulador del Tequila (CRT). The first product under this label, TERAI Blanco, is made from 100% Blue Weber Agave and is designed to appeal to Indian consumers looking for premium drinking experiences. Retail prices for the tequila will vary by state, starting at approximately ₹5,815 in Rajasthan and between ₹3,600 and ₹4,500 in Haryana and Goa. Shekhar Swarup, Joint Managing Director, emphasized the company's ambition to bring authentic Mexican craftsmanship to the Indian market, while P S Gill, CEO of the Consumer Division, noted the product's alignment with the evolving preferences of emerging consumers in India's premium spirits sector.
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The launch of TERAI Tequila is expected to enhance the options available for consumers in India's premium spirits market, potentially influencing purchasing choices and encouraging local production.
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