Bhanu Gupta is an accomplished business leader with over 20 years of experience across luxury beverages, telecom, banking, and payments. She excels in driving strategic growth, brand innovation, and consumer engagement, blending global sophistication with local sensibilities to shape India's evolving luxury market.
In a recent conversation with Women Entrepreneurs Review, Bhanu shares insights on evolving demand for premium beverages, strategies for luxury brands to capture trends, balancing exclusivity with regulations, and innovative ways to enhance customer experiences in the industry.
How do you foresee the demand for premium beverages evolving in emerging versus mature markets over the next five years?
In both emerging and mature markets, we anticipate strong growth in demand for premium beverages over the next five years, fueled by a desire for premiumization and experiences that reflect authenticity. We are responding to these evolving preferences with innovations like Godawan Artisanal Single Malt, crafted in partnership with Taj Hotels, which emphasize regional sourcing and artisanal quality. That apart, our other brands like Johnnie Walker Blue Label, The Singleton, Tanqueray, cater to a growing consumer interest in exclusivity, craftsmanship, and mindful luxury. As a company, we believe that luxury brands will need to focus on sustainability and unique, culturally resonant products to captivate consumers and ensure brand loyalty, even in uncertain times.
How do you balance between maintaining a brand's exclusivity and navigating complex regulatory landscapes? Can you share an example of a regulatory hurdle that led you to rethink a product or strategy in a way that ultimately benefited the brand?
Balancing a brand's exclusivity while navigating complex regulatory landscapes requires a nuanced approach, especially in markets with diverse legal frameworks. Given the restrictive environment for alcohol advertising, we prioritize immersive brand experiences and leverage digital platforms and influencers to engage consumers authentically. For instance, in states with stringent pricing regulations, we adapted by launching our 'Drink Better, Not More' initiative, emphasizing quality over quantity. This not only aligned with local regulations but also reinforced our commitment to responsible drinking, enhancing the brand’s premium appeal and consumer trust. We at Diageo are committed to a compliant way of building brand extension businesses, and during the consultative discussions with the Government on guidelines for brand extensions, we have provided our inputs to tackle the issue of surrogate advertising and permitting legitimate brand extensions.
How can luxury beverage brands implement meaningful environmental and social responsibility initiatives without compromising the exclusivity and quality that premium consumers expect?
We have recently released Diageo India’s 3rd annual ESG Reporting Index 2024, reflecting the ongoing efforts under the ‘Spirit of Progress’ plan.
The report highlights the achievements in Diageo India’s grain-to-glass sustainability, commitment to positive drinking practices, and initiatives in inclusion and diversity, with a strong focus on responsible business practices. The report underscores its proactive approach to retail and sustainability within India’s alco-beverage market. By addressing environmental impact, responsible drinking, and community inclusivity, Diageo India is reinforcing its position as a responsible corporate leader in India’s consumer goods sector.
What are some innovative approaches to enhance customer experience in the luxury beverage industry? How do you see digital transformation playing a role in creating a high-touch experience for discerning clients?
In India, we’re exploring groundbreaking ways to elevate customer experience, particularly where direct interactions with customers are often limited. Creating exceptional experiences hinges on personalization, exclusivity, and seamless digital engagement. By leveraging customer insights and data, we can offer highly personalized experiences, whether through tailored product recommendations, exclusive tasting events, or bespoke packaging. The luxury consumer wants to feel understood and valued, and digital tools allow us to create curated experiences based on their preferences and purchase history. This also helps us create exclusive, high-quality digital content—whether through beautifully shot videos, storytelling, or collaborations with renowned mixologists—to provide our consumers with a sense of belonging to a select group.
Our approach thus focuses on blending the art of craftsmanship with innovative digital tools to engage and delight our discerning clientele. It’s about creating a seamless connection between the brand and consumer, ensuring that every interaction—whether digital or physical—feels unique and special.
