In a world where Indian consumers increasingly favour homegrown brands, earlier in December of 2022, Bacardi unveiled Legacy Collective, a platform designed to celebrate and connect visionary Indian brands with the discerning Indian consumer. In an exclusive interaction with exchange4media, Ayaesha Gooptu, Head of Domestic Spirits at Bacardi India, shares the inspiration behind this unique initiative and how it aligns with Bacardi's broader brand strategy.
"Over the past few years, the Indian consumer has shown an inclination towards homegrown brands that offer both localized products and premium quality," Gooptu begins. Recent reports indicate a remarkable 40% CAGR growth in Direct-to-Consumer (D2C) brands in India, reflecting this shift in consumer preferences. In light of this "Make in India" wave sweeping the market, Bacardi recognized an opportunity to introduce a platform catering to the growing demand for localized and premium offerings.
Lights, Camera, Legacy!
The launch of Legacy Collective presented an opportunity to tap into the passions and preferences of modern Indian consumers who increasingly gravitate towards homegrown brands offering locally inspired, premium products. "The Legacy Collective focuses on featuring innovators who embody a spirit of fearlessness," Gooptu explains. This approach has allowed Bacardi to nurture a progressive, trend-focused, and curious mindset in India, mirroring Bacardi's global ideals.
Bacardi's Legacy Collective is set to make a significant impact with its upcoming TVC featuring the Bollywood actor Ranbir Kapoor. The creative process behind this TVC aimed to convey a powerful message: that legacy-building is not the privilege of a select few but a journey open to all. "We wanted to collaborate with someone who has embarked on the journey of 'building one's own legacy'," adds Gooptu. The TVC seeks to inspire audiences across India through various mediums, including TV, Social Media, Digital, and Cinemas, urging them to stay true to their passions.
Catering To Trends & Festivities
Consumer preferences are evolving towards premiumization and a preference for homegrown brands making it clear that premiumisation is a nationwide phenomenon that extends to both urban and non-urban regions in the country. Legacy Collective is strategically positioned to cater to these changing trends. "India's growing preference for premium products spans various categories and regions," Gooptu notes. The platform brings together an array of exceptional homegrown brands, aligning perfectly with India's appetite for premium and localized experiences. Adds Gooptu, “We are excited about the journey ahead of this one-of-its-kind platform that is enabling us to become an integral part of the memories and experiences of discerning Indian consumers today.”
India is a truly vibrant market with many diverse cultures that come alive during the festive period. With celebrations, gatherings, and gifting in full bloom across the country, it is a very opportune season for brands to connect with customers, both old and new. With the festive season approaching, Bacardi has strategic plans to uniquely position Legacy Collective. "As we approach October, which marks the beginning of the festive season in India, we plan to remain active with different initiatives that engage key touch-points of excited Indian consumers during this crucial period.," Gooptu explains. The brand goals extend beyond market expansion; it's about fostering genuine connections and delivering captivating experiences that resonate with consumers, not just during the festive season but in the days that follow. She adds “This includes aligning with highly anticipated events such as the upcoming World Cup, blockbuster movie premieres, and other timely occasions. Our belief is grounded in the power of forging genuine connections and delivering captivating experiences that will leave a lasting imprint on our consumers, not only during the approaching festive season but also in the days that follow”
Crafting Compelling Narratives Authentically
The spirits industry often relies on storytelling and brand narratives and Bacardi recognizes this aspect as well. Legacy Collective curates a selection of luxurious homegrown products. "We make sure that the ethos of the platform aligns with those of the brands we feature. Additionally, there is a clear preference for made-in-India products that are premium in the Indian market today, which makes our platform stand out for its exclusive curation of Indian brands." Goptoo emphasizes. The platform presently features products from distinguished brands like Isak Fragrances, known for perfumery; The Postbox, for premium leather accessories; and Jaipur Watch Company, a bespoke watch manufacturer. Adds Goptoo “All of these proudly Indian brands are known for their products made with meticulous craftsmanship, which resonates deeply with the tastes of Indian consumers. Our attention to these nuances builds relatability and resonance, making Legacy Collective their go-to choice for consumers in the country.”
Today’s consumers are well-informed and hence increasingly discerning in their choices, making it integral for brands to be authentic and transparent while engaging with them across various platforms. Goptoo highlights the importance of aligning with like-minded individuals and brands who share the Legacy Collective's vision of 'building one's own legacy.' Recent collaborations, including brand films featuring distinguished personalities like Actor Boman Irani and his sons, Ali Fazal & Shailesh Lodha, and Shweta Tripathi Sharma, have resonated immensely with audiences.
