Diageo Celebrates Big Fat Indian Weddings in India

Diageo is capitalizing on the growing trend of extravagant weddings in India, a market that has become one of its fastest-growing regions. The recent high-profile wedding of Radhika Merchant and Anant Ambani highlighted the scale of such celebrations, which can last several days and involve lavish entertainment, including performances by global stars like Rihanna. With a guest list of 1,200, these events attract a mix of celebrities and influential figures, showcasing the opulence of Indian weddings. The Indian wedding industry is valued at approximately £98 billion annually, significantly larger than the US market. Diageo has been actively involved in over 70 high-profile weddings in the past year, reflecting the increasing demand for luxury alcoholic beverages at these events. Whisky, particularly Godawan single malt, is a favored choice among Indian consumers, contributing to the booming sales of premium spirits. Hina Nagarajan, CEO of Diageo India, noted that the company’s sales have surged, driven by a young and affluent population. By 2030, India is expected to have the third-largest number of high-income households globally, with a median age of just 28. This demographic shift is influencing consumption patterns, as more women are now engaging with luxury alcoholic drinks, increasing their share from 25% to 40% in just two years. Diageo's operations in India have seen remarkable growth, with a 50% increase over three years. Last year, sales rose by 14% to over £1 billion, while profits soared by 53% to £196 million, indicating a robust market presence and the potential for continued expansion in this lucrative sector.