The Competition Commission of India (CCI) on Friday (May 8, 2026) ordered an investigation into French liquor group Pernod Ricard over alleged exclusive deals with retailers to promote its brands at the expense of rivals, a regulatory order showed.
The watchdog has been reviewing allegations since 2024 that Pernod, whose brands include Chivas Regal and Absolut vodka, colluded with retailers in New Delhi to boost its market share.
The complaint alleges that Pernod provided $24 million in corporate guarantees to its bankers in 2021 to help city retailers secure loans, with retailers in turn ensuring 35% of the stock in their shops comprised Pernod brands.
The CCI said it found merit in the allegations, noting in its order that "the non-dealing in the product of the competitors ... is likely to result in distortion of demand by way of moving retail demand away from the competing brands."
In a statement on Saturday (May 9), Pernod told Reuters it "unequivocally denies any wrongdoing" and will cooperate with the CCI if the authorities contact the company.
"We operate to the highest standards of compliance and governance, and we are confident that our business practices fully adhere to the laws and regulations of the country. We view any allegations to the contrary as without merit," it said in a statement.
The allegations were made by an individual identified only by the first name Mohit, who has a record of taking up public interest litigations.
The case adds to challenges for Pernod in India, its largest market by sales volume. The company competes with Diageo among others in the market and reported sales of ₹274.45 billion ($3 billion) in 2024-25.
A Pernod India office was raided in 2024 in a separate antitrust case. The company is also contesting a $250 million federal tax demand and faces another probe into alleged violations of New Delhi's liquor policy, which it denies.
Internal Email
The CCI's investigation unit will now examine the case in detail, a process that can take months before a final order.
Friday's (May 8) order referred to a 2021 internal Pernod email in which executives discussed gaining a "strategic advantage" across New Delhi zones and providing €23 million ($27 million) in support to retailers bidding for licences.
The CCI said this amounted to distorting retail demand to benefit Pernod.
"Such an action is likely to result in restriction of choice to end consumers rather than benefit them in any manner," CCI said in its order.
An internal probe by Pernod later found senior executives at its India unit had violated the law by colluding with retailers in New Delhi, even as the company has denied wrongdoing in court and publicly, Reuters reported in 2024.