Beam, which suspended sales of its whiskey and liquor brands, and senior Indian employees due to possible financial irregularities, plans to rebuild Teacher's whiskey brand in India, as part of strategy to reposition its business for future success in the country.
The India operations were found violating the Foreign Corrupt Practices Act, which forced Beam to suspend four senior Indian employees, including Beam India head Harish Mulchandani.
Beam corporate communication and public affairs senior vice president Clarkson Hine told moneycontrol.com that they are currently undergoing internal review process and are planning to introduce new protocols and procedures to re-position their business in the country.
"We consider India as one of the most vital emerging markets it currently represents about 2% of total worldwide net sales and we are optimistic about our future growth prospects about India," Hine added.
The review process also includes appointment of new CEO for the India unit, which is temporarily being managed from Beam's Asia-Pacific and South America regional headquarters in Australia.
Beam India marketing director Neeraj Kumar told the website that the company's brands are back on the shelves and they are extremely focused at resumption of their availability.
The British multinational company also plans to introduce global brands like Jim Beam, Maker's Mark whiskey, Sauza tequila and Laphroaig Scotch whiskey in the future in India.
