The country’s competition watchdog is reviewing accusations that France’s Pernod Ricard colluded with retailers in New Delhi to boost market share, the latest headache for the spirits giant in a key market, legal papers seen by Reuters show. Pernod is accused of gaining market share by asking retailers in the Indian capital to stock more of its goods in return for helping them secure loans to bid for store licences, according to the filing. Drawing on the findings, the CCI complaint accuses Pernod of providing $24 million in corporate guarantees to its bankers in 2021 to help city retailers get loans. Retailers then ensured that 35 per cent of the stock in their shops consisted of Pernod brands. The CCI case also cites extracts of a Pernod PowerPoint presentation in June 2021 that mentioned an internal plan to "take control of retail shops" in New Delhi.

Source: The Hindu May 01, 2024 22:24 UTC