Pernod Ricard Weighs Indian IPO as Local Demand Outpaces Global Slump

The Paris-listed group reported quarterly net sales of 2.23 billion euros, marking a 0.9% organic decline that nonetheless outperformed analyst expectations of a 1.7% drop. While European and North American consumers remain cautious, India’s alcohol sector continues to benefit from rapid premiumization and shifting social habits. Finance chief Mauve Croizat noted that the company is actively engaging with its board regarding the listing, a shift from the more tentative stance maintained by CEO Alexandre Ricard earlier this summer.

Investors responded favorably to the news, with shares in Paris climbing approximately 3.5% in morning trade. Analysts at Barclays suggested that the company’s preparations for a market debut appear to be moving into a more concrete phase. Pernod Ricard is currently balancing this expansion with a broader strategy to navigate a soft U.S. market, which the company expects to remain under pressure through 2029. To sustain profitability, the distiller is targeting one billion euros in efficiency savings, aiming to maintain its competitive edge while navigating a volatile global landscape.