New Delhi: Shifting its focus from regular to premium segment, India’s second-largest spirits maker Radico Khaitan plans to launch two brands in this segment this fiscal.
“During the current fiscal, we are planning to introduce two brands in the premium and super premium segments in the brown spirits (Whisky and Rum) category,” Radico Khaitan chairman and managing director Lalit Khaitan told the agency.
The company has recently launched ‘Morpheus Brandy´, priced at Rs600 per bottle, in the super premium segment in Andhra Pradesh, and is going to introduce it in some more states in the current quarter.
When asked whether the company is looking to tie up with multinational companies, Khaitan said, “These would be our own brands as in the case of Magic Moment Vodka which is developed by ourself.”
He, however, declined to divulge further details.
According to the industry norms in domestic spirits market, regular segment is defined at less than Rs300 per bottle, semi premium segment is in the range of Rs300-450, premium Rs450 and above and super premium at Rs550 and above.
According to industry estimates, the premium and super premium whiskey category is growing at the rate of 49% per annum but it constitutes less than 1% of the total 190 million cases Indian made foreign liquor (IMFL) market.
Besides this, the company is also in talks with some foreign firms to enter into the wine segment.
Delhi-headquartered Radico Khaitan has reported sales worth Rs274.38 crore in the latest quarter and has brands such as 8PM Whisky, Old Admiral Brandy and Contessa Rum under its portfolio.