Merchants slash prices of wines to poach patrons of hard liquor and beer
Merchants slash prices of wines to poach patrons of hard liquor and beer
Theu00a0wine industry in the city is uncorking itself to suit all kinds of purses. Now that hard liquor and beer have lost favour with the publicu00a0-- owing to the rise in pricesu00a0-- the local wineries are sparing no efforts to exploit the market and optimise gains. Jagdish Holkar, president of the All India Wine Producers Association, said wine merchants were trying to shed the snob value of wines. "They want to cater to the middle class and the lower-middle class. With prices of beer and hard liquor going up, we have seen a lot of customers turning towards wine."
Local wineries in the city, Nashik, Sangli and Baramati have slashed prices of some of their brands by 15-20 per cent and in some cases even by 30 per cent. Bottles are now being made available in the range of Rs 100 to Rs 200. Nitin Desai, chief managing director of Vinsura Wines from Nashik, said "The wine industry has not been affected by the tax structure and can afford to reduce the prices." Besides the new-found favour from taxes, the wineries are also having a surplus of wines. By the end of the financial year 2010-2011, about 2.5 crore litres of wine were lying with the wineries. Holkar said this was another stimulating factor for the slash in prices.
"Wineries want to use the large volume of wine lying with them," Holkar said.u00a0Mahendra Bhare of Prathemesh Wineries, Nashik, said: "We have moved to the rural areas and have cut down costs to attract more patrons. Most customers in the city prefer imported brands."u00a0
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