Tuesday, April 30th, 2013
SEOUL, KOREA - Hite-Jinro is making inroads into the Indian market with its soju drink, a Vodka-like distilled spirit made of grain. According to investment banking sources on April 29, Hite-Jinro has signed a partnership agreement with India's alcoholic beverage importer Advent Brand House to supply soju concentrates.
With the concentrates, Advent Brand House will dilute and bottle them in Goa and distribute throughout India. Hite-Jinro will be paid royalties proportional to the amount sold. The soju, to be sold in a brand name "Jinro 24," will initially be available in the 375-ml green bottles, slightly bigger than the 360-ml bottle sold in Korea.
Hite-Jinro plans to sell 18,000 boxes (24 bottles in a box) in India until the year's end. This is the first occasion for any East Asian liquor company to enter the Indian market in the form of local bottling arrangement. Kirin Brewery and Suntory Liquors had sought local partners but were overtaken by Hite-Jinro.