Category Archives: profiles

ZigZag Vodka – Scoring with premium craft beers and vodkas

Ishwaraj Singh Bhatia, Co-Founder and COO, Simba Beer and ZigZag Vodka, with a family background in the alcobev industry has opted for premium craft beers, various variants of ZigZag vodka to breakthrough in the Indian market.

What made you opt for the alcobev industry?

My family’s legacy in the alcohol distribution business spans three generations, providing me with a deep-rooted understanding of the industry from an early age. Growing up, I was immersed in the nuances of beverage production and the cultural significance of alcoholic beverages. While studying in England, I witnessed a thriving craft beer movement and recognised a gap in the Indian market for authentic, homegrown craft beers. This realisation, combined with a strong entrepreneurial drive, led us to establish Simba Beer in 2016, with the vision of bringing a premium craft beer experience to Indian consumers.

Why craft beer and not normal beer, considering scaling up craft beer in terms of volume is a long journey?

Craft beer represents more than just a beverage; it embodies artistry, innovation, and a commitment to quality. Unlike mass-produced beers, craft beers allow for experimentation with flavours, ingredients, and brewing techniques, catering to consumers seeking unique and diverse taste experiences. We recognised that the Indian consumer was evolving, with a growing appetite for premium and varied beer options. While scaling craft beer presents challenges due to its artisanal nature, we believe that focussing on quality over quantity would resonate with discerning consumers. This approach has fostered a loyal customer base and positioned Simba as a distinguished brand in the market.

What kind of volumes are you looking at to achieve economies of scale?

Achieving economies of scale is essential for operational efficiency and sustainability. While specific volume targets are proprietary, we have strategically invested in expanding our brewing capacities. For instance, we established our flagship brewery in Durg, Chhattisgarh, which has enabled us to meet increasing demand while maintaining stringent quality standards. Our focus remains on scaling thoughtfully to ensure that growth does not compromise the artisanal essence of our products.

Is Simba Beer connected with Simba Chips?

No, Simba Beer is not connected with Simba Chips. The similarity in names is purely coincidental, and there is no affiliation between the two brands.

What kind of promotions do you plan to do for Simba?

Our promotional strategy for Simba is rooted in fostering a strong community and creating immersive brand experiences. While trade promotions vary by state, our primary marketing focus is on engaging consumers through experiential events and digital storytelling. For example, Simba Uproar 2025 in Delhi celebrated underground culture, providing a platform for grassroots talent in India’s hip-hop and street culture scenes. These initiatives not only enhance brand visibility, but also deepen our connection with our audience. Additionally, we leverage digital platforms to share compelling content, collaborate with influencers, and drive meaningful engagement.

Tell us more about ZigZag Vodka?

ZigZag Vodka is our foray into the vodka market, reflecting our commitment to quality and innovation.

Launched recently, ZigZag offers a meticulously crafted vodka experience, available in four variants: Original, Lime, Orange, and Green Apple, catering to diverse consumer preferences. Our vodka undergoes a rigorous filtration process using carbon, silver, platinum, and gold, ensuring a clean and crisp taste. The brand name ‘ZigZag’ symbolises the dynamic lifestyle of modern consumers who seamlessly navigate between their professional responsibilities and personal passions. This product embodies our dedication to crafting beverages that align with contemporary tastes and lifestyles.

Which states is the brand available in, and what are your plans to expand pan-India?

Currently, ZigZag Vodka is available in Delhi, Bangalore, Goa and Chhattisgarh. We have strategically chosen these markets to establish a strong initial presence. Our expansion plan involves entering additional states in a phased manner, considering factors such as market demand, regulatory environments, and distribution logistics. Our goal is to achieve a pan-India presence, making ZigZag accessible to consumers nationwide while ensuring that each market is adequately supported to maintain our standards of quality and consumer engagement.

What is the price range you plan to operate in?

ZigZag Vodka is crafted with a focus on quality and the use of superior ingredients, delivering a smooth and enjoyable experience. While pricing varies across different states due to taxation and local regulations, we aim to offer ZigZag at a price point that balances excellence with accessibility, ensuring consumers receive exceptional value. Our pricing strategy is designed to be competitive within the vodka market, appealing to those who seek both quality and affordability. Available in three sizes—750 ml, 375 ml, and 180 ml—ZigZag Vodka is priced between ₹390–₹1195 for the Original variant (750 ml).

Are you looking at launching flavoured vodkas in the near future?

Yes, recognising the evolving consumer preferences, we have introduced flavoured variants such as Lime, Orange, and Green Apple alongside our Original vodka. We continue to explore new flavours to cater to diverse tastes. Our approach involves extensive research and development to identify flavour profiles that resonate with our target audience, ensuring that each new variant upholds our commitment to quality and innovation.

What about Vodka RTDs?

The Ready-to-Drink (RTD) segment is an exciting space that aligns with evolving consumer preferences for convenience and on-the-go experiences. While ZigZag Vodka is currently focussed on establishing itself in the market with its core offerings, we recognise the growing demand for high-quality RTD options. As we continue to expand, we are exploring innovative ways to bring the ZigZag experience to consumers in more accessible and dynamic formats.

AABL driven by ambition, and backed by the foresight to achieve

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Tushar Bhandari, Whole Time Director, Associated Alcohols & Breweries Ltd. (AABL), talks about one of India’s oldest and most trusted brands in the alcobev industry listed on both NSE and BSE. AABL has nine proprietary brands under its wing and has a strong focus on selling premium alcohol. These include Central Province Superior Grain Whisky, Titanium Triple Distilled Vodka, James McGill Whisky, Jamaican Magic Rum, Superman Fine Whisky, and Bombay Special Whisky among others. The company also ventured into the premium category with the launch of Nicobar Gin and Hillfort Whisky. The company is licensed to manufacture for international brands such as Bagpiper Whisky, McDowell No. 1 Celebration Rum, White Mischief Vodka, Blue Riband Gin, and Director Special Black.

What have been the recent milestones for Associated Alcohols & Breweries Ltd.?

We commenced the calendar year 2024 with the launch of Nicobar Gin, marking our strategic debut in the premium spirits segment. Building on this momentum, we operationalised 40 MLPA grain-based ethanol plants, bolstered by a cogeneration facility, to strengthen our production capabilities. We also expanded our spirits portfolio with the introduction of Hillfort Blended Whisky, our second flagship product in the high-end spirits category.

Additionally, for the first nine months (9M) of FY 2024-25, our IMFL (Indian-Made Foreign Liquor) Proprietary segment delivered robust growth, with volumes rising 23% YoY, driven by strong brand performance and consumer demand. The IMFL Licensed segment also achieved steady growth, posting an 8% YoY increase in volumes during the same period, reflecting balanced momentum across our portfolio. These results underscore our expanding market presence and operational efficiency in a competitive landscape.

What has been the impact on the company’s financials?

AABL showcased strong financial performance, driven by strategic initiatives that enhanced operational efficiency and profitability. The company experienced substantial growth, reflecting its resilience and ability to adapt to market dynamics. Improved cost management and operational enhancements contributed to healthier margins, reinforcing its financial stability. Additionally, a notable increase in shareholder returns underscores AABL’s commitment to delivering long-term value. This sustained momentum not only strengthens the company’s market position, but also lays a robust foundation for future expansion and innovation.

How is the company gearing up to consolidate its position in the Indian alcobev industry?

We are focussed on capitalising on the accelerating trend of premiumisation, which aligns with the evolving preferences of new-age consumers. New-age consumers are willing to invest in products that resonate with their aspirational lifestyles and increasingly prioritise experimentation and exclusive experiences. Guided by this insight, we have outlined a robust product pipeline for the next two years, beginning with the launch of an RTD (Ready-to-Drink) beverage in five distinct flavours, followed by the introduction of a premium tequila to deepen our presence in the high-end spirits market.

Beyond product innovation, we are equally committed to crafting memorable brand experiences that foster lasting connections with consumers. We host initiatives such as city-wide game nights and sponsor exclusive restaurants to engage audiences in distinctive settings, ensuring our brand occupies a unique space in their minds.

With so many FTAs likely to happen will the competition be more intense?

Impact of FTAs on Competition

Increased Access to Imported Brands: The potential reduction in tariffs on imported spirits, especially Scotch whisky, could make these products more accessible to Indian consumers.

This is expected to spur competition as domestic brands will face pressure to innovate and enhance their offerings to retain market share.

Market Dynamics: With the Indian alcohol market projected to grow significantly—valued at around USD 200 billion by 2025 and expected to reach USD 300 billion by 2035—competition is already fierce. The influx of foreign brands through FTAs could further disrupt existing market dynamics, compelling local players to adapt rapidly.

Quality vs. Price Competition: Industry leaders have expressed confidence in competing based on quality rather than relying on protective tariffs. This sentiment reflects a broader trend where Indian manufacturers are encouraged to improve product quality to compete effectively against imports.

With the lowering of tariffs by the US will there be an impact on the company’s sales?

Lower tariffs for the US will specifically impact bourbon imports which are priced in the premium segments. We do not see an impact on our current product portfolio or the planned launches. Industry dynamics could definitely see consumers moving up brands due to lower prices but we remain optimistic about our quality and product offering.

What are the company’s financials for 2024-25?

For the first nine months (9M) of FY 2024-25, we reported exceptional financial performance across key metrics. Our Net Revenue from Operations surged 61% YoY to ₹8,334 million, underscoring strong demand and market penetration. EBITDA followed this upward trajectory, rising 59% YoY to ₹926 million, with a steady EBITDA margin of 11%, reflecting operational efficiency and cost discipline. Profit After Tax (PAT) grew 54% YoY to ₹591 million, maintaining a healthy PAT margin of 7% and highlighting the company’s ability to convert revenue growth into sustained profitability. Additionally, Diluted EPS stood at ₹31.82, marking a 50% YoY increase, which reinforces the company’s commitment to enhancing shareholder value. These results collectively demonstrate robust execution, scalable operations, and disciplined financial management in a dynamic market environment.

What kind of growth are you likely to see in 2025-26?

With a focus on premiumisation and catering to diverse consumer needs, we are looking at growing our proprietary IMFL portfolio by 15-20% through new product launches across different categories. Entering new markets and deeper penetration into existing markets is another key focus area for us, as it will allow us to strengthen our consumer base and establish greater consumer loyalty. Overall, the company is targetting 12-15% growth in the topline.

What is the company’s progress on the export front?

The company is present in international markets like the UAE and regions across Africa, where select products from our portfolio are currently available. Building on this foundation, we aim to introduce our entire product range in these markets, aligning with our vision to become a globally recognised player in the spirits industry.

Additionally, we recently participated in the San Francisco World Spirits Competition and aim to amplify our global reach and highlight the quality of our offerings by engaging in additional international trade shows and competitions. These opportunities will allow us to showcase our craftsmanship, build brand equity, and benchmark our products against global standards.

What are the volumes achieved by the company and what is the value?

During the first nine months, we achieved volume growth of 1.3 million cases in its IMFL Proprietary segment, up from 1.1 million cases in the previous period. In parallel, the corresponding value surged to ₹973 million, reflecting a significant rise from ₹833 million, driven by improved market demand and strategic pricing initiatives. These metrics underscore the segment’s robust performance and alignment with broader business objectives.

Mixing It Up with Tony Kousoulou

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From whisky distilleries to award-winning bars, Tony Kousoulou has spent over 15 years figuring out what makes a great drink work. Whether consulting on cocktail menus or experimenting with molecular mixology, he has always had a knack for blending flavour with technique. In 2021, he joined MONIN, swapping the late nights behind the bar for a role that lets him shape the future of drinks on a bigger scale. As Global Advocacy Beverage Expert for Paragon, he now works with bartenders around the world, helping them make the most of MONIN’s range; especially the botanical concentrates that are shaking up cocktail-making. Currently in India, Tony is working with some of the country’s best mixologists to explore new possibilities with Paragon. We sat down with him to chat about his journey, the changing bar scene, and why coriander keeps turning up in unexpected places.

You’ve had an incredible journey in the hospitality industry, from working with gin and whisky distilleries to consulting for award-winning bars. What led you to MONIN, and how has the transition been for you?

I had always used MONIN products throughout my career, so I was fairly familiar with the range MONIN offered, but the idea of working for a brand that shared similar values to mine—while making quality products and maintaining a fantastic CSR policy—was the biggest factor that appealed to me.

I had also worked my last bartending gig throughout the COVID-19 pandemic, and once restrictions started to lift, I decided to close that chapter of my career and focus on brand-related work. I’ve now been with MONIN for almost four years and haven’t looked back once.

Regarding my transition, I joined the company towards the end of the pandemic, when things were fairly quiet. This gave me plenty of time to familiarise myself with the whole range, which includes over 250 unique products.

MONIN is a globally recognised brand in the beverage industry. How do you see its role evolving in the world of cocktails and mixology today?

The staffing crisis in hospitality is not just a local issue but a global one. We’re seeing lower staff retention, fewer training opportunities provided by venues, and sadly, less passion behind the bar.

We’re aligning ourselves with a more advocacy-based approach, championing creativity while helping venues upskill and develop their staff. As an example, we’ve developed a training programme called MONIN-FUSION, which explores multiple ways to create in-house products behind the bar using a stable and consistent base (our MONIN products). This programme covers everything from foams, liqueurs, super-blends, garnishes, cordials, and much more.

With bartenders constantly experimenting with flavours, how are MONIN products being received in high-end bars across the UK, Europe, and India? Have you seen a shift in how mixologists use them?

In the past, many high-end venues dismissed commercially made syrups altogether. However, in recent years, through brand training and relationship-building, we’ve made significant progress.

One of the biggest challenges with high-end venues is their pursuit of innovative flavours while maintaining consistency. You could easily create the best possible version of a wild strawberry syrup, but can you replicate it exactly a week later? Will the sugar content be identical? Will the colour hold? Most importantly, will it taste the same?

With global supply issues and increased seasonality, our products offer reliability; whether you open a bottle in January or in the middle of August, the flavour remains the same.

Paragon, the latest addition to MONIN’s portfolio, is all about botanical concentrates. What inspired this range, and how do you see it changing cocktail-making?

Paragon is all about the pursuit of excellence while highlighting flavours and regions that are often underrepresented in the drinks and food industry. The idea was to bring these outstanding flavours—often found in remote areas—into the hands of bartenders.

We use a combination of acids and extraction methods to create a liquid that is perfectly balanced between sweet and sour, with an intense burst of flavour. This means bartenders can create drinks with the complexity of 8-10 ingredients while using only a few. All thanks to Paragon!

Among the ingredients in the Paragon range, white Penja pepper and Timur berry stand out for their unique profiles. What are some of the most exciting ways you’ve seen them used in cocktails?

There are quite a few to choose from! The most exciting ones I’ve seen play into the natural flavour profiles of the peppers themselves.

For example, Timur berry has bright notes of pink grapefruit in both aroma and taste, with a subtle numbing spice in the background. I’ve seen many variations of the Paloma using this as a substitute for both agave and pink grapefruit juice. Because of the nature of the liquid, you essentially get a completely clarified Paloma with no compromise on flavour; something that leaves guests wondering how it was achieved.

What’s the biggest challenge in introducing new flavours or products to bartenders and the alcohol industry? How do you overcome it?

I wouldn’t necessarily call it a “challenge”, as it’s part of my role at MONIN. However, we are known for pushing the envelope with innovation across all our ranges.

This sometimes means we introduce flavours or products that most people haven’t tried before. It’s on us to get out there, advocate for them, provide knowledge and training, and immerse our customers in the possibilities these flavours offer. It’s a lot of work, but it’s essential for bringing world-class products to bartenders.

You’ve worked with some of the finest names in the industry. Can you share a career highlight or an unforgettable product innovation that has stayed with you?

Not directly related to me, per se, but seeing many amazing people I’ve worked with over the years go on to open their own venues or take on key roles in global brands has been a personal highlight. Career growth is great, but it’s even better when you see your friends thrive.

With India being one of the fastest-growing markets for premium spirits and craft cocktails, what trends have caught your attention during your visit?

If I had to name just one, it would be the Picante. Back home in the UK, it’s growing in popularity year after year, but it’s often made in multiple ways, most without coriander, which is actually a key ingredient.

I’ve seen some really interesting takes on Picantes throughout my travels in India, all staying pretty faithful to the original concept. Bonus points for all the fabulous whisky highballs I’ve tried. It’s my go-to drink.

Are there any exciting expansions or new MONIN products in the pipeline that bartenders and mixologists should look forward to?

We have a new factory opening in early 2026. Once fully operational, it will allow us to introduce more region-specific flavours…think raw mango and spiced jamun. I can’t reveal too much yet, but exciting things are in the works!

What’s next for you at MONIN? Any special collaborations or projects in the works that will excite the beverage industry?

I’ve a few things I’m working on internally, mainly new product developments for the UK market, which may well launch globally if they prove to be successful. I’m always open to suggestions and ideas to present to our R&D department, so I encourage people to reach out.

Besides that, hopefully, some more travel later in the year. I’ve always wanted to visit our Yuzu plantation in Portugal. Maybe even make it to Athens Bar Show?

Rapid-Fire Round

1. If you had to create a cocktail inspired by your personality, what would it be called and why?

The Maverick. A lot of my colleagues poke fun at me for straying from classic expectations of what drinks should be.

2. One MONIN flavour you think is underrated but has massive potential?

Guava. It works well with almost any spirit and is by far my favourite of the tropical/exotic flavours we have.

3. If you could have a drink with any legendary bartender—past or present—who would it be, and what would you sip on?

Sasha Petraske, hands down. I’ve read ‘Regarding Cocktails’ cover to cover numerous times and had the pleasure of going to Milk & Honey in London a couple of times before it closed due to COVID-19. Easily some of the best approaches to cocktails and service I’ve ever seen.

4. What’s the strangest or most unexpected ingredient you’ve ever mixed into a cocktail?

Clarified pig’s blood. Please don’t ask me to elaborate. Those were dark times.

5. Describe your India visit in one drink. What would it be, and what ingredients would it feature?

Likely some form of a coriander-spiced whisky highball; a combination of the two drinks I’ve enjoyed the most here (Picante + Highball). Probably with a dash of Paragon Timur.

India, Central to Sazerac’s Growth Plans

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The Sazerac Company, one of the world’s largest distilled spirits companies, has major plans for India. The company which has got some fine distilleries across the globe, including in Goa, India, continues to expand its business across continents. To know their rich history and strong distilling capabilities, one can visit Buffalo Trace Distillery in Kentucky, United States; at Domaine Sazerac de Segonzac in Cognac, France; and at Paul John Distillery in Goa, India. Sazerac has additional impressive locations in New Orleans, Montréal, London, Cork and Sydney, to name a few. Sazerac, a family-owned company with nearly 400 years of history, is striving hard to bring the finest spirits to consumers and communities around the world. With renewed interest in Bourbon whiskey in India and Sazerac’s plans, in an interview with Ambrosia, Diego Bianchi, General Manager of Emerging Markets & Barrel Select at Sazerac gives an insight into what is brewing at Sazerac.

What is the potential of the bourbon market in India? What percentage has it been growing in India?

India, as the world’s largest whiskey market, is central to Sazerac’s long-term growth plans. Over the last few years specifically India has experienced an increase in interest in premium American whiskey. The recent launch of Weller Bourbon, one of the most awarded wheated whiskeys in the world, signals Sazerac’s commitment to introducing high-quality, premium spirits to Indian consumers to meet the growing demand in the country. While bourbon as a category is still in its early stages in India, we see tremendous potential for growth driven by favourable economic trends and policy reforms, as well as shifting consumer preferences.

The bourbon market in India is small compared to Scotch, what are the plans to grow this category?

India’s whiskey market, dominated by locally produced spirits and Scotch whisky, offers a unique challenge and opportunity for premium bourbons like Buffalo Trace Distillery’s Weller Bourbon. Buffalo Trace Distillery is the World’s Most Award-Winning Distillery, with over 1,000 accolades. Known for blending tradition with innovation, the distillery experiments with mash bills, barrel techniques, and wood types to continuously push the boundaries of bourbon-making. This commitment to quality and innovation ensures a dynamic and relevant portfolio for global whiskey enthusiasts.

Our goal is to drive awareness and elevate the bourbon category’s premium appeal by introducing interesting and varied expressions into the market. Educating consumers about the unique distillation process and various bourbon mashbills that make bourbon a distinct whiskey offering is a key piece of this.

With India’s premium spirits market poised for continued growth, Weller’s focus on heritage and storytelling, alongside collaborations with connoisseurs and bartenders, is helping position it as a premium yet accessible choice for spirits-enthusiasts.

Which brands of bourbon whiskey are you planning to bring to India?

Currently in India we offer Benchmark Bourbon, Buffalo Trace Bourbon and the recently launched Weller lineup of Weller Special Reserve and Weller 12-Year-Old. In the coming years we expect to continue to introduce Indian whiskey fans to even more of Buffalo Trace Distillery’s award-winning portfolio to meet the market’s increasing demand for luxury spirits and authentic storytelling.

Weller 12-Year-Old Bourbon, aged for over 12 years, offers a smooth, rich experience with notes of almond, creamed corn, and vanilla, best enjoyed neat or on the rocks. Priced at ₹5,400 in Haryana and ₹7,750 in Mumbai, it is India’s oldest age-stated bourbon.

Weller Special Reserve Bourbon features a smooth profile with flavors of honey, butterscotch, and soft wood, complemented by a sweet honeysuckle finish. Versatile for sipping or mixing, it’s priced at ₹2,500 in Haryana and ₹4,500 in Mumbai.

Sazerac is to ‘leverage’ its relationship with John Distilleries, could you explain how?

Sazerac currently holds a 60% stake in John Distilleries, and it has been a strong and productive partnership. John Distilleries’ deep understanding of the Indian market has been invaluable for Sazerac as we navigated India’s dynamic and highly regulated landscape. Through our partnership Sazerac has benefitted from the company’s well of industry knowledge and established practices specific to the Indian market.

With Bourbon duties cut from 150 to 100% in India, will we see a quantum jump in Bourbon sales?

The reduction in duties is a positive first step. We hope this will lead to more premium bourbon brands becoming available in India, helping to grow the category and educate the consumer about what bourbon is and why it deserves a place on their bar.

How will the duty cuts impact the Indian whisky market, per se? Will there be a price correction?

No comment.

‘Jim Beam has been crafted with unparalleled expertise for 230 years’

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One of the most notable recent developments in the Indian alcobev industry is the reduction of import tariffs on bourbon. In February 2025, the Indian government reduced import tariffs on bourbon whiskey from 150% to 100%, aiming to strengthen trade relations with the United States. This move is expected to make bourbon more competitively priced in the Indian market, potentially increasing its availability and boosting consumer interest. Bhavya Desai spoke with Neeraj Kumar, Managing Director of Suntory Global Spirits India, about the impact, growth potential, and more. Excerpts:

Before the tariff cut, bourbon imports into India were relatively modest, with the country importing around $2.5 million worth of bourbon during the 2023–24 fiscal year. The U.S., holding the GI (Geographical Indication) tag for bourbon, has been the primary supplier, accounting for nearly a quarter of these imports. The tariff reduction is expected to encourage more imports from American producers, enhancing their competitiveness against other international and domestic
spirits.

According to Neeraj, the reduction is well-timed, given the bourbon market’s strong growth potential in India, driven by shifting consumer preferences and a rapidly expanding alcoholic beverage industry. “Jim Beam, our leading bourbon whiskey, has seen strong double-digit growth in recent years, securing market leadership in the American whiskey category across key Indian cities. This reflects a growing appetite for bourbon among Indian consumers.”

Neeraj attributes this growth to bourbon’s versatility, which appeals to both neat drinkers and cocktail lovers, offering a unique opportunity to engage a new generation of whiskey enthusiasts. He also sees the tariff reduction as a strategic step toward strengthening trade ties between the world’s two largest democracies, supporting bourbon’s growing market presence and meeting increasing demand for premium whiskey experiences.

That said, the bourbon market in India is still relatively niche compared to scotch. While the tariff reduction is a positive step, more effort will be needed to grow the category. Neeraj acknowledges this, noting that the reduction marks a significant step toward expanding bourbon’s footprint, encouraging investment from American distillers, and improving accessibility for Indian consumers. Bourbon exports to India have already been growing at 20% annually, and the tariff reduction is expected to accelerate this trend.

Suntory Global Spirits is proud to be the custodian of the world’s #1 bourbon, Jim Beam, Neeraj emphasises. “Jim Beam has been crafted with unmatched expertise for 230 years, each bottle carrying the legacy of generations of dedication and craftsmanship. We are committed to building scale and momentum for the brand through premium experiences tailored to Legal Drinking Age (LDA) consumers, including differentiated activations centered around bourbon refreshment moments. Our ‘Jim Beam Highball’ strategy aims to deliver a refreshing and memorable drinking experience.”

Suntory Global Spirits is also looking to expand its portfolio in India, introducing more offerings under the Jim Beam label and other spirits like Maker’s Mark. The current Jim Beam lineup in India includes Jim Beam White and Jim Beam Black Kentucky Straight Bourbon Whiskeys, along with the recently launched Jim Beam Honey and Jim Beam Orange flavours — both of which have been well received by consumers and bartenders, particularly for bourbon-based cocktails.

It’s clear that Suntory Global Spirits is eager to make its mark (pun intended) and secure a larger share of the Indian spirits market. Neeraj’s enthusiasm reflects the company’s strong commitment to India as a priority market. “We are dedicated to meeting the growing demand in this market,” he says.

Jim Beam remains a major focus for the company in India, with momentum building steadily over the past two years. The launch of Jim Beam Honey and Jim Beam Orange has received a promising response from both consumers and bartenders, reinforcing bourbon’s growing popularity in India.

Globally, Suntory Global Spirits’s bourbon portfolio also includes Legent, Basil Hayden, and Knob Creek. The company continues to assess opportunities for expanding in India — though Neeraj stresses that timing will be key.

So, is local bottling on the table? Neeraj’s response is measured: “Our approach to bottling follows strict global standards to ensure the highest quality across all our brands. Each bourbon has its unique characteristics, influenced by GI norms, blending techniques, and precise recipes for seasoning, maturation, and bottling. Any decision on local bottling will be carefully evaluated to maintain the integrity and authenticity of our products and deliver the best experience to Indian consumers.”

The tariff reduction comes at an interesting time, aligning with India’s broader strategy to negotiate a comprehensive trade agreement with the U.S. — one that aims to double bilateral trade to $500 billion by 2030. Overall, the reduction in bourbon tariffs marks a significant shift for India’s alcobev market, promising greater consumer choice and a more diverse spirits industry. And perhaps, this could pave the way for a similar shift in the Scotch market too — who knows?

‘It’s cool working with Ranveer – He is dynamic, hatke and full of creative ideas’

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With a career spanning over three decades in the industry, Bikram Basu has been in different roles with different companies. An industry veteran who is now at the helm of affairs at ABD Maestro – ABD’s new subsidiary in collaboration with Bollywood actor Ranveer Singh. Ambrosia speak to Bikram Basu about the new venture, expectations and more. Excerpts:

Congratulations on your new role for ABD Maestro. Excited?

Thank you. My association with Ambrosia and INDSPIRIT has been for a couple of decades, and you’ll have been a part of this journey.

I am looking forward to this responsibility with keen interest as I’ve always enjoyed creating new things and this role gives a canvas beyond strategy and brands. The structure of the new organisation is unique, spanning multiple opportunities. I am sure there will be a few challenges on our way, but we have a mix of experience and fresh talent to navigate and overcome them.

Everyone’s jumping on the premium bandwagon.

How big is this market?

I’d rather take the pricing scope to be Super-Premium and Luxury spirits. That is where ABD Maestro is planning to play. We have considered brands for ABD Maestro that currently have an MRP above ₹2000 per 750ML or 700ML bottle in Maharashtra, irrespective of their consumer prices in other states. We know that the pricing index or ladder is mostly similar across states.

If we consider brands above ₹2000 and make it flavour agnostic, the segment was estimated at 4.8 million cases – prior to the pandemic in FY19/20. Post the pandemic, this grew to an estimated 7.2 million cases in FY21/22. And we feel this will close at early double digit million cases in FY24/25 – with early teens percentage growth. The Super Premium and Luxury segments by volume are estimated in mid-single digit salience of the industry, but the value salience and margins are significant. These are trends on why the industry has taken a view to participate better.

From appearing in ads, celebrities are now part of companies/brands, what kind of value do they bring?

Celebrities globally are icons of positive opinion and change. They have a following, some fanatical. These people have achieved superstar status through hard work and consistent success. Brands irrespective of industry will gravitate to using celebrities to build positioning, break clutter and push forward.

Ownership with celebrities of brands or equity in organisations globally have trended for the past many years. This has come to India a decade back with celebrities having equity in start-ups and bringing their success and following to the ventures. It’s a relatively newer thing in the Indian alcohol beverage industry.

Why do you think celebs are

finding this market lucrative to invest in?

Major Indian actors may be investing in alcohol beverage brands as they see the market premiumise and early-stage participation should give the first mover advantage. They are likely to also relate to super-premium and luxury brands better than mass market brands as owners or partners, as its part of their social and consumption set.

What’s Ranveer Singh role in ABD Maestro?

Ranveer Singh is a creative and business partner, with equity in ABD Maestro. He is not a brand ambassador or a celebrity endorser. Ranveer is fully involved in the creative ideation process and gives time and thought. It’s really cool working with him as he is dynamic, hatke and full of creative ideas – and he understands business.

Which brands will come under ABD Maestro and tell us the plans for each of these brands?

The brands which will be with ABD Maestro now are Arthaus Blended Malt Scotch Whisky, Zoya Special Batch Gin, the Fullarton acquired brands of Woodburns Indian Malt Whisky, Pumori Small Batch Gin and Segredo Aldeia Café and White Rums. The BIO portfolio has Russian Standard Vodka- Platinum, Gold and Original.

Therefore, at Maestro we will have a Blended Malt Scotch and Indian Malt Whisky, a Special Batch Gin, a Craft Gin, White and Café Rum and a top end global Vodka at three different price points. Too early to call out plans for each of the brands.

So a mix of owned, licensed and distributed brands?

The brands mentioned earlier are either licensed or distributed by Maestro. The organisation will also launch its own brands which will be owned.

You have said that “Maestro will be a consumer first business”, can you substantiate?

Yes, I do strongly believe that finally it’s about the consumer who buys you, and not what you want to sell. More so in F&B, of which alcohol beverage is an increasingly important part.

Anything which we eat and drink needs an approval for a repeat purchase. When a purchase behaviour is involved, having opinions is common. When we put the consumer first, the business of brands works at every level to deliver effectively. Standing out to be the ‘first among equals’ in a strongly regulated industry with limited outlet universe takes understanding of consumers and trends more than just analytics.

Which will be the focus markets within the country and also overseas for ABD Maestro?

The licensed and owned brands will focus on top urban markets in India initially. A few from the portfolio will also go overseas.

Bacardi India, Engine of Growth for Bacardi Global: Vinay Golikeri

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Bacardi Limited, the world’s largest privately held international spirits company with a portfolio comprising over 200 brands and labels. In a conversation with Bhavya Desai on a podcast, Vinay Golikeri, Managing Director of Bacardi India explains why India is a key market for Bacardi and more. Excerpts:

The market opportunities in India, both from a macro-economics and spirits perspective, are huge. Substantiating this Golikeri said, “In the global market place, premium spirits account for 50% of brands, while in India it is 5 to 6%, which means there is ample headroom to premiumise.” In India, between 2020 and 23, premium spirits had a growth of over 40% while globally it was around 7 to 8%.

Adding 20 million LDA every year

As regards Bacardi, Golikeri mentioned that vast majority of products were premium and ‘we have a long runway of growth for premium’ aided by factors such as rising affluence, consumers are drinking better, the demographic dividend (every year India is adding 20 million coming in to the legal drinking age (LDA) bracket), sea change in the retail environment, top notch bars, trading up is happening across price points. “Put all that together, the premium plus segment is really accelerating.” The median LDA in India is 28 whereas in the US and China it is over 40. “The number of affluent households is expected to more than double from 77 million in 2020 to over 177 million by 2030.”

Inflation-linked price mechanism needed

However, he said that two things from the regulators were essential – ease of doing business and consistency in policy, both of which will go a long way in driving growth for the industry and revenues for the government. “Several States have not given price increases for years. There is inflation and cost of raw material has gone up, affecting investment capabilities. The government should introduce inflation-linked price mechanism.”

With the alcobev sector in India being a highly regulated and complex market, Golikeri said, “It is like dealing with 28 countries rolled into one, policies change every year, route to market changes every year.” Taxes and duties are about 65 to 70% of the MRP (maximum retail price) and the rest goes to each level of the chain – wholesale, retail and brand owners. “Our taxes are significantly higher than anywhere in the world. We need inflation-linked pricing mechanism. We need to invest to grow the brand and for that to happen, price becomes critical.”

Best 10 Strategy

Continuing on Bacardi’s plans in India, Golikeri pointed out, “We started out in India in 1997-98 with Bacardi rum, then in early 2000s with Bacardi Breezer, mid 2010 with Bombay Sapphire, Grey Goose and a few years back with Patron. It’s being a great run. Bacardi India is an engine of growth for Bacardi globally.

“We at Bacardi are going along with our Best 10 strategy… that is making the next 10 years the best ones yet. We want to grow our India business six times by 2030. We have been having strong double-digit growth and we are on track. Experiential marketing is key for us. It is going to continue in importance as a growing number of consumers are experience-seeking. It is going to be equally about experience as much as the product.”

Cocktail Culture Evolution in India

“The bar scene in India has changed considerably, not just in metro, but also in Tier 2 cities. There is a lot of experimentation and we are seeing real evolution of the cocktail culture. It is not just Mumbai or Delhi. Recently, I had been to a bar in Guwahati and If I showed you their cocktail menu, you would think it was some bar in London or New York. Our products are positioned at half of the cocktail culture. This is an interesting opportunity for us to leverage the cocktail culture.”

Golikeri cited the sixth annual Bacardi Cocktail Trends Report, which identifies the five key trends poised to reimagine cocktail culture and the spirits industry in 2025. The report, created in collaboration with The Future Laboratory (TFL), draws on data from Bacardi-led and external research, consumer surveys, bartender interviews and TFL insights to reveal the movements that are influencing cocktail experiences, flavour profiles, and culture the coming year.

Quoting Mahesh Madhavan, the Bacardi CEO, Golikeri said the company has embraced the shift from consumption to curation, where consumers are not just seeking drinks, but meaningful experiences enjoyed over a cocktail.

Do What Moves You

Bacardi has launched a marketing push to launch its brand purpose ‘Do What Moves You’, which aims to “shine a spotlight on the brand’s belief in the power of self-expression”. “It has music experience, delicious cocktails, wonderful merchandise, its 360 degrees, bringing all together to a compelling experience. We amplify that digitally where a few experience, but gets seen by many.”

Legacy, Made in India

Talking about ‘Legacy’ whisky, the make-in-India product, Golikeri said its ‘tested, researched and produced in India’. “We have put the consumer in the heart of it. We have had strong results from the consumer to the product. We initially went into three States – Maharashtra, Uttar Pradesh and Telangana and we know we have a winner on hand. We will be rolling out in other states too and Legacy is a response to vocal for local.” The roll out plans include Goa, Pondicherry, Jharkhand, Odisha, Meghalaya, Assam, Tripura, Arunachal Pradesh, Kerala, and Rajasthan. The focus, Golikeri said, is going to be on Legacy, Irish whiskey brand Teeling; tequila brand Patron El Cielo, and vodka brand Grey Goose Altius.

However, he said that Bacardi rum which was introduced in 1997-98 continues to be popular. “For Bacardi Breezer, the main player in the RTD (ready to drink) segment, the market share in India is 90%. Launched in 2002-03, it is a great liquid and has had good activations. We had the winning recipe. We were an early entrant and we have cemented the product.”

Three F’s that Drive Bacardi culture

Asked about his experience so far in India, he said, “I came from Dubai in early 2023 and the first few months, I just travelled across the country, visiting almost all states, meeting with our teams, stakeholders and also consumers. It was an exercise to understand the challenges, the market and to help shape our strategy. I put all this on paper and took it to our board of directors. One of the learnings from the travels has been there is incredible opportunity for Bacardi to grow here.”

The company, he adds, encourages entrepreneurial mindset and helps in taking bold decisions, all coming from Bacardi’s focus on three F’s – Family; Founders and Fearless. “In Bacardi everyone is treated as family. We are all ‘Primos’ (cousins in Spanish), where we care for each other and help in making bold decisions. We are all a passionate team of Primos.”

India, Golikeri adds, contributes hugely not just in terms of business, but also as a global talent hub. Bacardi has so many career programmes and India is a key pillar when it comes to talent sourcing.

What an Expedition it has been…….

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Rakshit Jagdale, the Managing Director of Amrut Distilleries in a podcast conversation with Bhavya Desai talks about how the 75-year-old company has evolved over the years, starting from heritage brands such as Amrut XXX rum and Silver Cup brandy in the 1950s to the Amrut Single Malt and now to a limited edition of the oldest whisky from the sub-continent – The Expedition.

On February 26, 2025, Bengaluru-based Amrut Distilleries reached yet another highpoint in the alcobev sector when it launched The Expedition, the oldest single malt whisky in India, matured for 15 years, and sold for 12,000 USD (₹10.50 lakhs) per bottle. Celebrating its 75th anniversary, Amrut Distilleries released 75 bottles of this rare whisky, 66 of it for the international market and the rest for the Indian market.

Matured for 15 years

The Expedition is matured for 15 years, initially in European Sherry casks for 8 years and then American Bourbon casks for 7 years, developing deep, opulent flavours, complexity and depth. Amrut’s Expedition packaging exudes the grandeur of a royal heirloom. The merging of metal and wood took six months. Each handcrafted box houses an individually engraved and numbered bottle, featuring a diamond-cut design with intricate gold engravings. A regal silver peg measure, crafted by a Bangalore silversmith, has been embedded with a near-field communication (NFC) tag and authentication card.

Globalisation and the Market

Not just The Expedition, the international market for Amrut has been the US, followed by Europe and the APAC region, the last one is fast growing for single malt whiskies. “It has been a very exciting time for us in the industry now. We should see how it will unfold,” Rakshit said and mentioned how the markets opened up in India in 1990-91 with globalisation. “Seagram’s came with advertising blitzkrieg for Royal Stag, something which we had not seen. People started shifting from drinking heavier blended whiskies like MaQintosh or Peter Scot or Royal Challenge into drinking lighter whiskies like Royal Stag. At Amrut, we did not stop distilling, we kept on maturing our malts.”

Lighter Whiskies

It was around 1995-96 that Amrut cut down using heavier malts in MaQintosh from 35% to 10% to 8%. “It was then we thought why not go for single malt whisky, why not explore.” The first batch was matured for four years average and now the company is using a larger percentage of older whiskies. “We don’t have that much of quantity, we run out of supply,” confesses Rakshit.

Denying that the company created a demand to jack up prices and make it luxury, Rakshit said, “We didn’t have enough whisky, even now it is the case, but we do come up with special edition whiskies. Who wouldn’t want to sell more of their product.”

Technologies at play

Talking about how the company has evolved over the years, Rakshit said, “Techniques have evolved and barleys have improved from two row to six row. The yeast varietals have undergone massive change. Distillation technologies have also improved. The world over, the yield per ton of malt spirit has improved significantly now. Earlier, we were probably touching around 350 to 360 alcoholic litres per tonne, we are now hitting close to 400 alcoholic litres per tonne. With Scottish malts it’s even higher going up to 415 to 425 litres per tonne.”

On location advantage, Rakshit said Bangalore at an altitude of 950 metres above sea level has significant advantage with relative humidity remaining high in summer and dropping significantly in winter. “We lose angel’s share in our warehouses at an average of 9% every year. Probably it doesn’t happen anywhere else, may be in Kentucky. We lose more water than alcohol. If you go down anywhere near the coast or if you mature in Scotland, it is the other way around, because in Scotland’s cooler clime, the angel’s share is 2% per year, but they lose more alcohol than water, with the strength dropping. Humidity and altitude play a very significant role for us.”

The MBA Thesis That Catapulted Indian Single Malt to the Global Stage

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The success story of Indian Single Malt (ISM) whisky in the global market place, pioneered by Bengaluru-based Amrut Distilleries, has been well documented. It is not only an interesting story, but also an inspiring one on how the Jagdales – father-son duo – the late Neelakanta Rao Jagdale and Rakshit Jagdale – hit upon the idea of making a breakthrough in the whisky landscape, dominated by Scotland.

Rakshit Jagdale, in a podcast ‘Expert Talk with Bhavya Desai’ recalls his student days at Newcastle University doing an intense one-year MBA programme. “It was a Sunday morning and I was strolling along Northumberland street, a busy shopping center in New Castle upon Tyne, when my father called up and asked what I was planning to do for my thesis. I said a theoretical project on supply chain management. He said ‘no, no… you should do a practical project’ and suggested ‘why don’t you check whether there is scope to sell Indian single malt whisky in Indian restaurants within Great Britain’ stating that Kingfisher and Cobra beers were quite popular in Indian restaurants there. My father asked me to check out whether there was demand for Indian single malt as an aperitif or a digestive. I said it’s a brilliant idea.”

Miniatures that captured the imagination

Neelakanta Rao Jagdale then sat down with the excise officials in Karnataka and had two cases of miniatures of single malt whisky sent over to New Castle. “It was in June when exams were going on. I went over to the Customs bond and duty paid and cleared one case. The packaging was very rudimentary with a black and white label with simple words ‘Amrut’. We knew our product was exceptionally good. The colour of the whisky was good, dark enough and natural. We don’t add any caramel, it is 100% natural. My father had sent 300 miniatures of 60 ml each in two boxes. It was a live project for the company. I did a lot of my survey in New Castle, Edinburgh in Scotland and in the Midlands. I visited several Indian restaurants and bars in Scotland and the response was amazing. Everybody liked it. Some said it’s a 10-year old whisky, some said its Irish, when I said it was Indian, it was a jaw dropping moment.”

On returning to India, Rakshit presented the project to the family board. “It took us two years to conform to the packaging standards of the European Union and on August 24, 2004, we launched Amrut in Café India in Glasgow. That is how the journey of Indian Single Malt whisky began.”

Making the Grade in Whisky Bible

Not to sit on these laurels, they set off on taking it to the world, creating Amrut Fusion which was next level to the Classic Indian Amrut. “Fusion is a completely different product. It is a combination of peated barley and unpeated barley, the former coming from Scotland and the unpeated from India. It is an 80:20 ratio. My father felt that as the Indian palate is accustomed to little bit of peat with Johnnie Walker Red Label and Black Label, they would like the combination. That was running in his mind.”

Explaining the process, Rakshit mentioned, “Fusion is matured for a longer period, five to five and a half years. The base malt, both peated and unpeated, is matured for four years and then we marry them and mature it again for nine months to one year, which gives it not only depth, but also complexity of flavours. When Jim Murray first savoured it in 2009 and found it unique and said there was no other product in the world that had this kind of combination. He loved Amrut and gave 97 of 100 in his Whisky Bible in 2010 and ranked it as the third finest whisky in the world.”

From humble beginnings in 1948 as a simple bottling company, Amrut is a name to reckon with. It moved on early into distillation and premiumisation and that has paid dividends. “We have reasonably come a long way. We have grown organically and we are happy with progress we have made.”

This is the third generation of the Jagdale family which is running the business, started by Radhakrishna Rao Jagdale in 1948. The fourth generation is getting ready and Rakshit mentions that ‘the time is right to discus with his son and niece to find out if they have any interest, prima facie, in carrying forward the rich legacy of my grandfather and father.”

Amrut Distilleries, Expanding Capacity and Eyeing Partnership in the Long Term

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In a podcast conversation with Bhavya Desai, Rakshit Jagdale, Managing Director of Amrut Distilleries, has spoken at length about the company’s expansion plans and the journey of how a practical project during his MBA days in the UK led to the first-ever launch of an Indian Single Malt whisky, charting a path which many others have followed subsequently, making India proud of its strides in the alcobev sector.

engaluru-based Amrut Distilleries, the firm that put Indian Single Malt whisky on the global map, is in an expansion mode. Beginning April 2025, Amrut Distilleries is adding 35% more to its distillation capacity, taking it from 900,000 litres to about 1.4 million litres, according to its Managing Director, Rakshit Jagdale. It was only in 2018, the company had trebled its distillation capacity.

`1,000 crores net sales target

Amrut Distilleries’ current business in volume terms is over 6.3 million cases per annum with turnover at ₹540 crores net sales, gross sales being ₹1,750 crores. “The projections are to touch ₹1,000 crores net sales in about 10 years’ time, growing at 10 to 15%. We are quite confident, we will sustain. For us bottom line is important. We can chase turnover with economy, but we want to have strong EBITDA. There is scope for luxury and premium segment to grow further and strengthen the bottom line.”

Dilution of stake

Asked whether the closely-held family concern would be diluting its stake, Jagdale said, “There has been a lot of interest in our group over the past six to seven years. We have had discussions at the family board level, but we have not taken that call yet. We cannot shy away for too long. We are looking at a partner who will add value to the brand and also give global market accessibility, if at all we go that way.” IPO (initial public offering) is another route which the company is looking at it from a long- term perspective. “We are not there as yet. I personally feel, it will be a couple of years more, before we take that call.”

Meanwhile, Amrut Distilleries is also exploring avenues to set up a new distillery to cater to the bulk market. “We are seriously looking at the bulk side, impending the Free Trade Agreement (FTA) with the United Kingdom.”

FTA and its impact

On whether there would be a downward revision in the prices of premium whisky in India, post FTA, Jagdale said, “It is certainly round the corner and it will post a fair bit of challenges. Brands like Glenfiddich, coming down from their current levels, will affect. We don’t know what is going to be their strategy, but they will put pressure on us to come down by ₹500 to ₹1,000 from what we are selling at currently. The bottomline will get compromised but we should stay put.” The shelves will have Indian single malts and BIO (bottled in origin) Scotch and consumer preferences around that point of time has to be factored in. “We have to wait and see.”

Weary of unhealthy competition

Stating that the Indian market offered massive opportunities, Jagdale mentioned, “Everybody wants to be in India now. They want to jump on Indian single malt bandwagon. They are serious and we are serious too on what we are doing.” Diageo has launched Godawan Indian single malt whisky, Pernod Ricard is setting up a single malt distillery and there are a host of Indian distillers, about five to seven of them, who will hit the market in the next two to three years. There is Ian Macleod coming. “Competition is most welcome and it keeps you on your toes, improves processes quickly and rapidly. Just hope that it doesn’t go the path of unhealthy competition.”

Amrut’s market focus

Giving details of its market bifurcation, Jagdale stated, “This year, of our total business is 95% domestic and 5% export market. Within the luxury division, we are 35% export and the rest domestic. “In the premium range, we have MaQintosh Premium whisky, Silver Edition whisky, Two Indies Rum, and Nilgiris Dry gin. The mass market category includes Amrut XXX rum, Prestige whisky, Silver Cup brandy. From a volume point of view, we would be 70% economy and from topline point of view 25% would be luxury and 10% would semi-premium and premium categories.”

Pain Points,
Excise Tops the List

Talking about excise duties, Jagdale said, “We are a highly regulated industry. Time has come to deregulate it. We are still following laws enacted by the British, while we have technology. There is a massive trust deficit between the government and the alcobev industry, hoping that the perception the governments have about the industry changes. Hopefully, it will have happen in my lifetime, would like to see that happen.” Agreeing that presently the governments are willing to listen to the industry and amend rules, he said, “there is hope.”

South Heavily Taxed

Jagdale stated that the southern states are highly taxed. “If you look at Punjab, Haryana and other northern states, the taxes are not as high as here. For instance, if the MRP (maximum retail price) is ₹100, the manufacturer gets roughly about ₹11, the retailer gets ₹9, the rest goes to the government. Agreed that the government has its own compulsions of running welfare programmes and other schemes, we appreciate that, but there has to be a balance going forward.” The governments, unlike earlier days are now open to dialogue which can only get positive, he hoped.

Is alcobev profitable business?

Quizzed about whether the alcobev sector is a profitable business, considering that it highly regulated, Jagdale’s advice is “Get into the premium and luxury segment. It is not worth to be in the mass market. You may achieve volumes in a couple of years, but you are not going to make any money. It takes minimum of four years, one should have the patience and the ability to invest for that long a time.”

His guestimate is that a 1000 litre per day plant will require a minimum capex investment of ₹25 crores and there would be working capital. “There is no guarantee that it will succeed in four years’ time. One should have the patience.” The route budding entrepreneurs could take is getting in gin manufacturing or matured rum category or vodka at the premium end. “Then you can pick up white, brown and dark spirits.”

The consumer of today

Emphasising the need to go premium, Jagdale explained that the present day consumer is highly discerning. “Globally we see a lot of youngsters have taken up to single malt whisky in a very big way, especially in the US, India, Europe. One thing we have observed with the advent of internet, is that the knowledge levels of the consumer has gone up significantly. Youngsters know more about whisky and other spirits much more. This keeps us on our toes. The consumer profile has changed. The younger generation is willing to spend more, drink better, drink less as they are health conscious too.”