Inside the World of Luxury Spirits — The surprising costs of the world’s best and most exclusive spirits
To the absolute disdain of teetotalers across the world, Alcohol consumption is deeply ingrained in our collective social culture. This has been prevalent not just in the modern culture, the oldest firm evidence of an alcoholic beverage comes from Jiahu, China where, by 7000 BC farmers were mixing rice, berries, honey and grapes in clay jars for fermentation.
So, it’s no surprise that people are splurging on spirits now more than ever before and it’s no longer just about consumption. For connoisseurs and enthusiasts, having the most enviable collection of vintage spirits a matter of pride and the trend is catching on across the world including India.
As per the Distilled Spirits Council of United States, all spirits are categories into four segments: Value, Premium, High-End Premium and Super Premium. The price point for each category primarily depends on the retail price and quality specifications like purity, age, ingredients, etc.
So what are Luxury Spirits?
Luxury spirits are generally considered to be ‘luxury’ based on their price and the brand’s position within their category. They are also known for their exquisite taste notes and intricate aroma. The better the ingredients and ‘fine’ distilling processes are, the more expensive and better is the spirit. These are the prime deciding factors for their price. There is an increasing trend of collecting such luxe brands at bars in homes across India. Not only, high-end but even upmarket liquor stores are now stocking some of the more in-demand premium brands to cater to the affluent demographic. While premium brands are common at most liquor stores, Luxury Spirits considered to be levels above, are stocked at select high-end liquor stores.
Rising incomes in middle-class India and exposure to international trends are giving a rise to enthusiasts splurging on luxury and premium spirits prompting international luxury brands to ramp up more offerings in the Indian market catering to the lucrative segment.
This Article was originally published on Luxury Connect Business School’s Website Blog. To read the article further, please click here: Article Link