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Recent Bloodbath in Stocks, How Liquor Stocks are Performing

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In the recent past, the stock market has crashed massively with the BSE Sensex going below 77,000 and the NSE Nifty50 also saw a sharp decline. Most broader market indices have been in the red. At the time of writing on February 13, the Sensex and Nifty were trading higher bringing relief for investors, following a six-day decline. The rise has been attributed to the meeting of the Indian Prime Minister Narendra Modi with the US President Donald Trump and the appreciation of the rupee against the dollar.

How have the liquor stocks been performing in this backdrop. It is reported that a few liquor stocks are outperforming consumer staples, even though there is slowdown in consumption. Brokerage firms are betting on some liquor stocks, the notable ones being Radico Khaitan and United Spirits. Some brokerage firms have estimated an upside potential of up to 19%, while some others have given six stocks a growth potential of 7% to 54%, something to cheer.

This is despite the demand environment remaining muted in Q4 FY24 due to inflation. In the previous quarter, liquor companies have had higher sales, thanks to the festive season, Cricket World Cup and wedding season.

United Spirits, a good bet

Though United Spirits, with famous brands such as Johnnie Walker, Black & White, Black Dog, Signature, Royal Challenge, McDowell’s No.1, Smirnoff and many more, had subdued sales in Q4 FY24, it is now focussed on premiumisation, in line with global trend of upgrading to better brands.

For the fourth quarter of FY24, the company recorded consolidated net sales of ₹2,666.00 crore, down from ₹2,989.30 crore in the December quarter and ₹2,864.70 crore in the September quarter. For the nine months ending December of the current financial year, the company notched up net sales of ₹18,995.50 crore, compared to ₹7,879.90 crore in FY22, ₹6,946.60 crore in FY21, and ₹5,664.80 crore in FY20. PAT for the nine months of the current year stood at ₹927.60 crore, compared to ₹847.70 crore in FY22.

United Spirits stock is trading at ₹1394.50 (down 3%) with the 52week low being ₹1075 and the high being ₹1700. If an individual had invested ₹1 lakh on February 12, 2020, it would now be worth ₹2.02 lakhs.

Radico Khaitan Riding High on Premiumisation

The next company to watch is Radico Khaitan, manufacturers of Rampur Indian Single Malt Whisky, Magic Moments, Dazzle Vodka, 8PM whisky and more. The company, one of the largest manufacturers of Indian Made Foreign Liquor (IMFL), which has 30 plus bottling units, over 75,000 retail outlets, reported an increase of 27.05% in its consolidated net profit to ₹95.48 crore in the third quarter ended December 2024. The company had posted a consolidated net profit of ₹75.15 crore in the October-December quarter a year ago, according to a BSE filing from Radico Khaitan.

Its revenue from operations went up 8% to ₹4,440.90 crore during the quarter under review. The figure was ₹4,111.23 crore in the corresponding quarter of the previous fiscal. In the December quarter, Radico Khaitan’s total IMFL volume was at 8.36 million cases, up 15.3% year-on-year. The Chairman & Managing Director Lalit Khaitan said, “Despite challenges in overall consumption growth, the spirits industry in India has experienced strong momentum, particularly driven by premium brands. In this context, we have delivered an impressive operational performance in Q3 FY25.”

Radico Khaitan is driving a premiumisation strategy which has benefitted the company’s financials. The premium products category is growing at over 20%. Rampur India single-malt whisky is gaining popularity by the day, all of which are driving EBITDA margins to 17-18% and improving the cash flow. The company expects these positives to result in a sharp fall in its debt levels by FY26.

If an individual had invested ₹100 in Radico Khaitan in 2021, it would now be fetching ₹242.81. The stock is trading on February 13, 2025 at ₹2,119 (down by ₹118 for the day).

United Breweries 17% gain in a year

United Breweries, subsidiary of Heineken N.V and makers of Heineken, Kingfisher Premium, Zingaro, Kalyani Black Label, London Pilsner etc., had gained 3.9% in trade following Heineken N.V reported its 2024 full-year results. The market capitalisation of the company stood at ₹54,561.32 crore. The 52-week high of the stock was at ₹2,299.4 per share and the 52-week low of the stock was at ₹1,645.8 per share.

UB is a market leader and its brand Kingfisher grew in volume in mid-single-digit, while Kingfisher Ultra and Heineken Silver volumes grew in the mid-thirties, gaining segment market share. UB shares have gained 17% against Sensex’s rise of 7.3% in the past one year.

Sula Vineyards Robust Growth

India’s largest wine producer, Sula Vineyards, has reported robust growth in its premium wine portfolio and wine tourism segment for the third quarter (Q3) and nine months (9M) of FY25, despite a challenging market environment. The company, known for its expansive range of wines and innovative wine tourism initiatives, announced its financial results, showcasing resilience and strategic adaptability.

In its latest performance update, Sula posted its highest-ever 9M net revenue of ₹489.2 crore, marking a 1.7% year-on-year (YoY) growth. This growth was largely driven by the company’s premium and elite wine brands, which saw a 5.6% YoY increase in Q3. The share of these higher-end labels in the company’s portfolio reached an all-time high of 80.5% in Q3, up from 77% last year, reflecting Sula’s strategic focus on catering to India’s evolving taste for luxury and quality.

Wine tourism, a key differentiator for Sula, also shone brightly, recording a remarkable 11.6% YoY growth in Q3 revenue. This was attributed to a vibrant festive and wedding season, coupled with higher guest spending, improved occupancy rates (81% compared to 76% in the previous year), and an increase in Average Room Rates (ARR).

However, the company faced significant headwinds in Q3, impacting profitability. The reduction in WIPS credits resulted in a direct EBITDA impact of ₹4.7 crore for the quarter, contributing to a 26.3% decline in EBITDA to ₹53.9 crore. Profit After Tax (PAT) also fell by 34.7% YoY to ₹28.1 crore, reflecting the pressures on margins.

Sula Vineyards share price is ₹317.55 as of February 13, having a 52 Week high of ₹639.95 while 52 week low is ₹308.10. Some brokerage firms are suggesting investors to hold on.

Tilaknagar Industries confident

Tilaknagar Industries Ltd., primarily engaged in the manufacture and sale of IMFL and extra-neutral alcohol, has brands such as Courrier Napoleon Brandy-Green, Mansion House Whiskey, Lumumba, Apple Fizz, Madira Rum, Brandy Smash, Warm Punch, etc.

Tilaknagar Industries for nine months FY25 had a net revenue from operations at ₹1,028 crore v/s ₹1,035 crore the previous period. The EBITDA improved by 28.6% to ₹176 crore v/s ₹137 crore; adjusted for the subsidy income. Volumes grew 2.1% to 84.9 million cases, while the net service revenue stood at ₹1,227 per case.

However, the company’s share price had hit 20% lower circuit at the time of writing, following the Bombay High Court’s dismissal of its petition in a trademark dispute involving the Mansion House brand. The company is going on an appeal on the Court order. The share price on February 13 was ₹261, the 52 week high been ₹457 and the low been ₹182.05, with a lot of promise. The alcobev market in India has been growing gradually over the years, thanks to the rising disposable income, urbanisation and retail innovations, all of which are making liquor stocks a good bet, despite the industry been highly regulated and prohibition in place in some states. The alcobev sector is dynamic, attracting investors as demand for alcobev products sees no decline. India’s alcohol industry is projected to reach sales of US$ 112,338.9 million by 2034, indeed a bet worth taking.

India’s Love Affair with Flavoured Rum: A Trend on the Rise

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Flavoured rum is redefining India’s spirits industry, appealing to modern drinkers with its versatility and unique profiles. As new innovations emerge, the segment continues to grow, transforming traditions and opening new markets

India’s fast-expanding $52.4 billion alcobev sector now contributes approximately 2% to the nation’s GDP. This achievement, largely attributed to the past two decades of remarkable growth, reflects an industry that continues to adapt to evolving consumer preferences. With the market forecasted to expand by nearly 7% in the coming years, experts believe the country is only beginning to tap into its enormous alcobev potential.

Within the broader industry lies the rum category, which, despite its longstanding presence, is now experiencing significant transformation. Currently valued at just under $1 billion, the segment is projected to exceed $1.4 billion by 2029, driven by consistent annual growth of 2% to 4%. This momentum is further amplified by innovative players introducing flavoured rum varieties, enhancing the drink with unique tastes and vibrant appeal.

For industry stakeholders, the objective is to build on these advancements to catalyse further growth across the entire alcobev ecosystem. Flavoured rum, in particular, has become a regular feature in bars, nightclubs, and ready-to-drink formats, catering to consumers who prefer enjoying rum at home.

Exploring the growth of flavoured rum in India

Vicky Chand, Managing Director of Radiant Manufacturers North East

India’s rum industry is an emerging force within the larger alcobev landscape. According to Vicky Chand, Managing Director of Radiant Manufacturers North East, flavoured rum in the country is produced in two distinct ways: one adhering to the global standard of using a sugarcane-based spirit as the foundation, and the other employing alternative blending materials. Chand highlights that these approaches are chosen by distillers based on style and preference.

Raju Vaziraney, Advising President of IMFL, India Glycols Ltd.

Radiant’s award-winning product, Lost Treasure Coffee Rum, is gaining popularity with its unique blend of grain, cane, and malt spirits infused with cold brew coffee. This combination delivers three distinct yet harmonious profiles that connect with flavoured rum enthusiasts. Explaining the growing appeal of flavoured rum, Raju Vaziraney, Advising President of IMFL, India Glycols Ltd., credits it to the adventurous nature of young consumers.

“Young Indian consumers are dynamic and aspirational. They actively seek new recipes and flavours to share experiences with their peers. This curiosity sparked the popularity of flavoured vodka over a decade ago, followed by gin, and now it’s rum’s turn,” Vaziraney explains. “Flavoured spirits are accessible and versatile, allowing consumers to enjoy them without the complexity of crafting cocktails. This is especially appealing to those unfamiliar with mixology.”

John Royerr, Founder of Ochre Spirits

The perception of rum as a “winter drink” has also progressed, with new varieties dispelling the notion of seasonality. Flavoured rum has broadened the drink’s appeal, making it a choice for all seasons. John Royerr, Founder of Ochre Spirits, notes that consumers are increasingly discerning.

“Drinkers now value smoother, more flavourful spirits. Artisanal rums, often crafted in small batches, deliver a premium experience distinct from mass-market brands. This shift is reshaping traditions and creating space for innovative offerings,” Royerr adds.

He also points to India’s growing cocktail culture, which has fuelled demand for flavoured rums. These spirits add variety and depth to home bars and social occasions, appealing to consumers seeking a sophisticated drinking experience.

For instance, Bacardi Mango Chili combines the beloved flavour of mango with a spicy kick, demonstrating how brands are creatively leveraging local tastes. This product is now widely available across several states, from Pondicherry to Uttarakhand. Ashish Jha, Brand Lead at BACARDÍ India, highlights the strategy behind such launches. “Understanding Indian consumers’ preferences is essential. Mango is a beloved flavour, while chili adds a zestful edge. This blend is in line with local tastes and offers something fresh to the market,” he says.

Assessing the opportunities

The burgeoning flavoured rum segment presents significant opportunities. While traditional rums are often viewed as occasional beverages, flavoured varieties cater to younger audiences unafraid to experiment. However, the premium nature of some flavoured rums necessitates a focussed market approach.

For Chand’s Lost Treasure Coffee Rum, the current strategy involves targetting the Northeast, a region with a growing appetite for distinctive rums. “We use cone spirit, a scarce ingredient, which limits our initial reach. By concentrating locally, we aim to establish our brand and later diversify into categories like white rum,” Chand shares.

Vaziraney’s Zumba Spiced Rum is similarly carving out its niche. “Younger consumers prefer new flavours, while traditionalists stick to classic blends. We’re catering to adventurous drinkers, aiming for nationwide presence and eventual international expansion,” he remarks.

Tarun Samvedi, Director of F&B at The Resort, Mumbai

Tarun Samvedi, Director of F&B at The Resort, Mumbai, observes this evolution. “Our venues often attract guests looking for distinctive experiences, including flavoured rum. Signature drinks like tropical punches and spiced mojitos highlight the versatility and visual appeal of these options. For instance, the tropical punch is ideal for summer-themed gatherings, while the spiced mojito offers a warm, aromatic touch perfect for cooler evenings or celebrations. Patrons who may not usually enjoy the intensity of traditional rum are drawn to the lighter, more refreshing character of flavoured options,” he notes.

Discussing his preferred brands, he adds, “Bacardi stands out for its diverse range of flavours, which work beautifully in various cocktails, from tropical punches to classic daiquiris. Captain Morgan delivers a rich complexity with its spiced and flavoured offerings, making it a favourite for mojitos and hot toddies. Malibu is also a staple, known for its signature coconut rum, a perfect choice for tropical or beach-inspired drinks.”

Apurva Bhatia, Beverage Manager at The St. Regis Goa Resort

Apurva Bhatia, Beverage Manager at The St. Regis Goa Resort, highlights the importance of ice and presentation. “Crushed ice enhances the chill and adds a slushy texture to tropical cocktails, while clear ice blocks offer stunning aesthetics for showcasing rum’s vibrant hues. Two of my most requested flavoured rum cocktails are Susegado Daiquiri – a blend of coconut rum, homemade jackfruit, palm sugar, vetiver cordial, house citrus, topped with jackfruit marshmallow – and Spiced Island Julip, which combines spiced rum, spearmint, house citrus (grapefruit, lime, orange), brown syrup, and homemade ginger beer. Personally, I lean toward Diplomatico Mantuano for sipping and Ron Matusalem for mixed beverages,” Bhatia elaborates.

Expanding consumer preferences

A notable trend driving the growth of flavoured rum is the mounting interest in health-conscious drinking. Consumers are seeking low-calorie, naturally flavoured options that align with their wellness goals. This shift has prompted many brands to explore organic ingredients, ensuring their offerings cater to the sprouting demands of mindful drinkers. This approach has broadened the appeal of flavoured rum, making it a viable choice for those who prioritise balance without compromising on taste.

Additionally, the appeal of flavoured rum extends to culinary applications. Mixologists and chefs alike are incorporating these rums into innovative dishes and desserts, further strengthening their place in contemporary dining experiences. For example, rum-infused cakes and flambéed dishes featuring tropical rum varieties are gaining traction in high-end restaurants and home kitchens alike.

The versatility of flavoured rum has also led to its adoption in events and social gatherings. Wedding planners are now including rum-based cocktails as part of curated drink menus, adding an element of uniqueness to the celebrations. These custom drinks, often inspired by regional flavours, bring a personal touch to festive occasions and elevate the guest experience.

Flavoured rum is further finding its way into experiential marketing campaigns, where brands create immersive experiences for their customers. Pop-up events, themed tastings, and collaborations with lifestyle influencers are becoming common methods to engage consumers. By offering an interactive platform, brands can forge stronger connections with their audience while educating them about the possibilities of flavoured rum.

Pricing, target markets, and upcoming plans

Speaking of pricing, Royerr explains, “Our Nutty Berry Rum is priced competitively at ₹1450 for a 750 ml bottle. Despite the intricate crafting process and premium ingredients, we have ensured accessibility for our customers, balancing quality with affordability.” Adding to the discussion, Vaziraney stresses, “Zumba Spiced Rum caters to younger, adventurous consumers who seek distinct flavours. Our spiced rum has successfully launched in UP and Uttarakhand, with approval for distribution through paramilitary forces nationwide. We’re now preparing to expand into new domestic markets this winter and explore international opportunities in the near future. Despite its semi-premium positioning, we have ensured that pricing remains competitive to attract a broader audience while offering an elevated experience.”

Bringing a regional perspective, Chand shares insights on their market strategy, “Lost Treasure Coffee Rum is designed for discerning palates in the Northeast. Although the scarcity of cane spirit limits distribution, this focus has allowed us to establish a strong foothold locally.”

On consumer response, Royerr observes, “Flavoured and artisanal spirits are transcending geographical boundaries. From bustling metros to smaller towns, there is growing enthusiasm for premium flavoured rums, reflecting their universal appeal.” Chand echoes this sentiment, adding, “In Assam, we’ve noticed that well-travelled consumers often take our spirits to larger cities like Mumbai and Delhi, mirroring the region’s growing expertise in crafting high-quality rums. This organic promotion has been invaluable in building our brand.”

Expanding on innovations, Royerr elaborates, “At Ochre Spirits, we meticulously source ingredients like cherries, oranges, and grapefruits from across the country, complemented by global-quality nuts for depth. Through maceration and distillation techniques, we ensure smooth, natural flavours. This dedication is central to our mission to introduce agave spirits soon.”

Vaziraney adds to the innovation dialogue, “Our journey with Zumba White Rum infused with lemon citrus flavours has been promising. As we solidify our presence, we plan to introduce additional flavours and limited editions, keeping the momentum alive through ongoing consumer research.”

Chand also hints at exciting developments, “We’re exploring barrel aging with coffee beans sourced from diverse regions of India. These limited editions will further elevate our offerings, creating a unique identity in the flavoured rum segment.”

The road ahead

Flavoured rum is poised for continued growth as more and more consumers appreciate spirits for their taste and character rather than solely for their potency. Bhatia emphasises the distinct profile offered by flavoured rums. “These rums provide sweet, fruity, or spicy notes, broadening their appeal to those who may not enjoy traditional blends,” he notes. As this segment grows, the expectation is that more brands will enter the market, each striving to stand out through innovation and quality.

Differentiation is key, according to Chand. His “Think Global, Act Local” philosophy ensures a balance between international standards and local sensibilities. This approach creates a “glocal” brand that resonates with diverse audiences. Moreover, the presentation and marketing of flavoured rums are adapting to meet shifting consumer demands. Stylish, eye-catching bottles and eco-friendly packaging are becoming essential components that captivate the modern buyer. This attention to design and environmental consciousness aids brands in establishing distinction in a highly competitive arena.

Growth of $4bn+ Expected from No-Alcohol Category by 2028

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The no- and low-alcohol drinks market is experiencing a transformative period of growth, driven by evolving consumer behaviours and the momentum of no-alcohol. Across 10 key markets, the combined no/low-alcohol market is expected to expand by +4% volume CAGR through 2028, with no-alcohol driving the majority of this growth, at +7% volume CAGR, while low-alcohol volumes remain broadly static. The no-alcohol category is expected to deliver incremental growth of US$4bn+ by 2028, according to the latest findings from IWSR Global Drinks Industry Data.

IWSR stated that ‘No- and Low-Alcohol Strategic Study 2024’ shows that the no-alcohol segment recruits more new consumers than its low-alcohol counterpart, with an increase of 61 million buyers versus 38 million for low-alcohol (2024 vs 2022) in the 10 key markets (Australia, Brazil, Canada, France, Germany, Japan, Spain, South Africa, UK, US).

New recruits entering the category are skewing younger than the core buyer demographic across markets, and demonstrate higher frequency and intensity of consumption. In line with global trends, alcohol purchases among no/low buyers are decreasing, particularly in the beer and wine categories. Across the 10 key markets, per capita consumption in litres of pure alcohol is at 80% of its level in 2000.

As the no/low category develops and more products come to market, other drivers besides alcohol moderation are becoming increasingly important in increasing consumption frequency, particularly in emerging no-alcohol categories. Factors such as taste, availability and brand are increasing in importance in categories outside of no-alcohol beer.

Susie Goldspink, Head of No- and Low-Alcohol Insights at IWSR, notes: “As the no-alcohol category matures, consumers want more than just an absence of alcohol. They want products that deliver on taste, complexity, and overall drinking experience. This evolution is pushing the category further, prompting brands to innovate and raise the bar in terms of quality and variety.”

No-alcohol will continue to drive future growth

Royalty Non Alcoholic Ginger

Strong growth across no-alcohol categories has continued throughout 2024, with RTDs expected to have the fastest growth rate through to 2028, off a lower base (+10% volume CAGR, 2024-2028). Beer will grow at 7% volume CAGR, and will continue to lead future no-alcohol growth in absolute volume terms.

No-alcohol’s share of TBA across the 10 key markets will increase to over 3% by 2028, with its share of the US TBA market doubling in that time. Brazil, Canada and the US will see higher growth in the no-alcohol segment in the near future, whereas growth is predicted to be more gradual in Spain, South Africa and Germany.

The US and Brazil emerge as key growth markets

No-alcohol growth in the US (+18% volume CAGR 2024-2028) and Brazil (+10%) is expected to come from the recruitment of new consumers, increased frequency of consumption and increased incidence in both markets. Growth in the US will come from a wider array of no-alcohol subcategories, while in Brazil, growth will come almost entirely from beer. Smaller markets such as Canada and Australia, also offer attractive opportunities with relatively high growth rates (7.5% and 5% respectively) off a lower base.

No-alcohol consumption frequency driven by Gen Z and Millennial cohorts

Markets with a younger legal drinking age (LDA) consumer base for no-alcohol, such as Brazil, the US and South Africa, continue to show heavier consumption per occasion, while markets with an older consumer base, such as Japan and Spain, report fewer drinks per occasion.

Gen Z who have recently reached legal drinking age are more likely to substitute non-alcoholic drinks, especially soda and energy drinks, while older age groups are more likely to substitute alcohol, especially beer/cider.

Moderation attitudes vary by age cohort

Of the 10 key markets, the US has the largest proportion of Occasional moderators. Along with the UK, it’s a market in which more buyers have participated in alcohol-free challenges. Younger buyers are more likely to adopt an Occasional moderation strategy, limiting alcohol consumption during defined periods or participating in alcohol-free challenges such as Sober October or Dry January (albeit from a small base). Occasional moderators are more likely to choose no-alcohol beverages based on social influence and training for sports.

Overall, markets skew non-loyal to brands, while younger buyers show more loyalty

Markets such as Spain, UK and Japan tend to be less brand-loyal. In Spain where there is a wide range of available brands, buyers are more likely to choose a different brand in the same beverage category. Meanwhile in South Africa, US and Brazil, consumers are more likely to stay within their preferred brand.

Brand loyalty also varies by age cohort. Frequent drinkers and younger buyers, who are more engaged with the no/low category, are more likely to be driven by brand and sensory characteristics. Up to 57% of Millennials are driven by brands they are familiar with, compared to only 45% of Boomers, who are less engaged and claim more occasional consumption of the category.

“Younger consumers are more likely to be moderating alcohol, but they also drink less alcohol to begin with. These consumers tend to participate in a wider repertoire of no/low categories, and to be more brand-loyal,” notes Goldspink. “Older consumers are less likely to be moderating but more likely not to drink alcohol at all, and their preferences tend to be skewed to no/low beer and alcohol brand extensions.”

Availability remains the key barrier

Availability is the biggest reason preventing people from drinking no/low more frequently in emerging no/low markets such as Brazil, South Africa, and the US. It is a barrier for fewer no/low buyers in more established markets such as Spain, France, Japan and Germany. Greater product availability in the on-trade and via e-commerce is helping to enable category growth.

Pricing is not a main barrier to purchase for consumers, but pricing can enable growth. In the UK and Spain – more developed no-alcohol spirits markets – pricing becomes more aligned with full-strength offerings as the category gains traction.

Innovation trends

NPD investment continues to focus on functional attributes. The brand Free AF, for example, offers no-alcohol beverages that feature Afterglow, a patented 100% natural, gluten-free and vegetarian botanical extract that is said to mimic the warming sensation of alcohol. Meanwhile, Parch Spirits and Cocktails has launched a line of no-alcohol agave cocktails containing desert botanicals and adaptogens such as ashwagandha, L-theanine and ginseng.

Products that do not have added functionalities and are not direct analogues of alcohol categories are also on the rise. Examples include sparkling teas, hop waters, and vinegar-based switchels.

2024 in Retrospect: How Alcobev Players Defied the Odds and Broke New Grounds

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The alcobev sector flourished in 2024, balancing growth with challenges. Premiumisation, innovation, and sustainability stood out as key drivers of success and future opportunities.

India’s alcobev industry has grown to become one of the fastest-developing sectors in the country, showcasing its transformation from tradition to modernity. Over the past few decades, this sector has emerged as a dynamic force, fuelled by changing consumer preferences, increased disposable incomes, and a rising affinity for premium and artisanal beverages.

Per capita alcohol consumption in India has risen significantly, growing from 1.3 litres in 2005 to approximately 3.1 litres in 2022, reflecting the country’s evolving consumer base and expanding market. In 2024, the alcobev sector reached a valuation of $55 billion, driven by a compound annual growth rate (CAGR) of more than 6%. Analysts project that by 2025, the sector will see further growth, with an expected CAGR of 8-10%.

This growth trajectory has been supported by increased urbanisation, a young population eager to explore global trends, and a shift toward mindful indulgence. However, the industry faced its share of challenges, including escalating production costs, supply chain inefficiencies, and regulatory complexities. To better understand the highs and lows of 2024, key industry players provided their perspectives on consumer trends, innovations, and the future outlook.

Consumer Preferences Shape the Market

The year was largely defined by the shift in consumer preferences, with buyers driving the industry toward greater innovation and authenticity. Modern consumers demand products that resonate with their values and provide unique experiences, prompting brands to innovate across production, marketing, and packaging.

Vikram Damodaran, Chief Innovation Officer at Diageo India

Vikram Damodaran, Chief Innovation Officer at Diageo India, attributed much of the year’s success to this change. “Today’s consumers are looking for more than just a drink; they seek experiences rooted in quality, authenticity, and sustainability. We have embraced this change by leveraging our heritage, incorporating locally sourced ingredients, and celebrating artisanal techniques. This approach has not only strengthened our connection with audiences, but has also earned us over 70 national and international awards,” he explained.

Tarun Bhargava, Proost’s Co-Founder and CEO

Proost’s Co-Founder and CEO, Tarun Bhargava, shared how their brand remained focussed on balancing quality with environmental responsibility. “While trends like IPAs and craft beers dominated the market, we stayed true to our core identity, producing beer with consistently unique flavours. Consumers appreciate our mature, well-crafted beers free of off-notes. Also, we’ve adopted practices such as reusable packaging to align with the expectations of eco-conscious buyers,” he said.

Shekhar Swarup, Joint Managing Director at Globus Spirits Ltd.

Shekhar Swarup, Joint Managing Director at Globus Spirits Limited, stressed that sustainability and authenticity extend beyond production. “We’ve implemented advanced water management systems and effluent treatment technologies to significantly reduce our environmental impact. Each bottle tells a story of authenticity, showcasing top-quality ingredients, time-honoured distillation methods, and artisanal techniques. This ensures that sustainability and authenticity are central to both our products and operations,” Swarup shared.

Premiumisation Gains Momentum

The move toward premium offerings was another defining trend of 2024, with younger consumers showing an increased preference for high-quality, craft, and luxury beverages. This trend highlights a growing demand for exclusivity, innovation, and elevated drinking experiences.

Rupi Chinoy, Director of South Seas Distilleries

Rupi Chinoy, Director of South Seas Distilleries, spoke about the success of their Crazy Cock Single Malt. “Crazy Cock is a journey. The name reflects the founder’s bold vision, resilience, and passion for creating something extraordinary. Our mascot, the cock, symbolises a new dawn for South Seas Distilleries and the Indian single malt category. This spirit represents decades of dedication and meticulous craftsmanship,” Chinoy explained.

Adding to their accomplishments, Rupi highlighted the launch of Six Brothers Mahura (Mahua), a unique spirit firmly rooted in Indian heritage. “Our Six Brothers Mahura, crafted from 100% Mahura flowers native exclusively to India, revives a legacy long overshadowed during colonial times. As the country’s first commercial distillers of Mahura, we see it as our mission to bring this category to global prominence. Mahura has the potential to become India’s ambassador on the international stage, standing shoulder to shoulder with spirits like Tequila from Mexico and Cognac from France,” she shared.

What distinguishes Six Brothers Mahura is its unparalleled authenticity. “This is a spirit no other country can replicate. Distilled in the same copper pot stills as Crazy Cock Single Malt and platinum-filtered for an exceptionally smooth finish, Mahura is versatile…ideal for sipping neat, on ice, or as a cocktail base. Its reception in the bar scene has been phenomenal, with establishments like Bandra Born hosting the world’s first dedicated Mahura bar, exclusively serving Six Brothers cocktails that have quickly become a sensation,” Chinoy elaborated.

Globus Spirits took advantage of the premiumisation wave by introducing DŌAAB India Craft Whisky. The first edition, Six Blind Men and the Elephant, was designed to appeal to discerning drinkers who value creativity and tradition. This product showcased the growing appetite for unique offerings that bridge the gap between heritage and modernity.

Kimberly Pereira, Chief Operating Officer of Maya Pistola Agavepura

The agave-based spirits segment also gained traction in 2024, with many referring to it as the “Year of Agave”. Kimberly Pereira, Chief Operating Officer of Maya Pistola Agavepura, highlighted the category’s growth. “Agavepura is a 100% pure agave spirit that stands apart from tequila and mezcal. It reflects our homegrown roots while appealing to the global palate. As cocktail culture evolves and celebrity endorsements grow, agave-based menus are becoming more prominent in bars across India. We are proud to lead this movement, fostering greater appreciation for authentic, well-distilled agave spirits,” Pereira said.

Leti Blagoeva, Co-Founder SLAB Ventures

SLAB Ventures tapped into the premium spirits market with a lineup that has garnered global recognition. Co-Founder Leti Blagoeva detailed their offerings, saying, “Our Single Estate Vodka is made in Poland, the birthplace of vodka, exclusively from winter wheat and filtered through rare black pearls, ensuring unparalleled smoothness. Meanwhile, our whiskies, INCEPTION and VORTEX, are crafted in Scotland and have received gold medals at several prestigious international competitions. D’YAVOL INCEPTION was even named the ‘Best Overall Scotch’ at the New York World Spirits Competition.

“Looking ahead, we are excited about expanding our range of spirits. In 2025, we plan to launch an Anejo Tequila crafted in Jalisco, Mexico, in keeping with our commitment to authenticity. Moreover, we are broadening our global reach; D’YAVOL will soon be available in the UK and the US. For us, it’s still the beginning, and there’s much more to come from the brand in the coming years,” Blagoeva commented.

The Experiential Turn

The year 2024 also marked the rise of experiential marketing, as brands sought to create deeper connections with consumers by offering immersive experiences. These efforts went beyond traditional marketing, emphasising storytelling, creativity, and meaningful engagement.

Swarup enlightened how Globus Spirits leveraged this trend. “With Six Blind Men and the Elephant, we offered an experiential journey. This limited-edition release allowed us to involve with consumers who value exclusivity and creativity, encouraging a stronger bond with our audience,” he said.

Similarly, SLAB Ventures leaned into experiential marketing through its D’YAVOL AfterDark platform. Blagoeva described the initiative, saying, “Consumers today look for more than good products; they want to engage with the brand’s story. D’YAVOL AfterDark combines exclusive artists, signature cocktails, and a vibrant nightlife atmosphere. This initiative has reverberated not only in India, but also in international markets like the UAE and Australia.”

Varun Jain, Founder and CEO of Smoke Lab

Varun Jain, Founder and CEO of Smoke Lab, explained how their premium events brought the essence of Smoke Lab Vodka to life. “We curated a series of events that embodied our brand ethos, from art-infused cocktail evenings to sensory experiences like Smoke Lab Nights, where guests explored our vodka variants paired with music, visuals, and gourmet cuisine. Collaborations with leading mixologists, chefs, and lifestyle brands helped us to deliver unique experiences,” he stated.

He also highlighted partnerships with sustainable fashion and design brands to reflect Smoke Lab Vodka’s commitment to modern luxury and environmental responsibility. “To enhance exclusivity, we introduced limited-edition bottles featuring bespoke packaging inspired by contemporary art and design. These bottles were accompanied by curated tasting notes and recipes, encouraging consumers to celebrate with elegance and creativity,” Jain added.

Vikram Achanta, Founder & CEO of Tulleeho

Vikram Achanta, Founder & CEO of Tulleeho and Co-Founder of 30BestBarsIndia and India Bartender Week, shared his perspective on the growing importance of experiential drinking. “Experiential events have become a central aspect of consumer engagement, offering meaningful opportunities to connect with the beverage community. This year, Tulleeho participated in marquee events like ProWine, Bar Convent Berlin (BCB), and exclusive masterclasses highlighting Sake, among others,” he noted.

Achanta also underlined the growing popularity of travel-inspired events, with consumers seeking pop-ups and bar takeovers by world-renowned establishments. “The recent takeover by Handshake Speakeasy, crowned the world’s #1 bar in 2024, in Jaipur is a prime example. We anticipate immersive drinking experiences gaining even more momentum in 2025. To prepare for this, we are exploring new opportunities, including events with Tulleeho Tequila Club,” he added.

Challenges and Adaptation

Despite the successes, the alcobev industry faced significant hurdles. Mounting raw material costs, supply chain disruptions, and regulatory changes created obstacles that required companies to remain agile and innovative.

Bhargava outlined these challenges, saying, “We faced price pressures due to intensifying costs, logistical delays in obtaining permits, and changing excise policies. Adapting to these circumstances demanded a proactive approach and collaboration across teams to ensure smooth operations.”

Amit Dahanukar, Chairman and Managing Director of Tilaknagar Industries Ltd

Adding his perspective, Amit Dahanukar, Chairman and Managing Director of Tilaknagar Industries Ltd., reflected on the complexities of managing these challenges while launching a new premium offering. “As leaders in the brandy category, we recognised the need to elevate its perception. This led to the launch of Monarch Legacy Edition, our first luxury brandy, in November 2024, aimed at redefining the category and spotlighting the depth and complexity of brandy. However, navigating volatile commodity prices, particularly ENA and packaging materials, was a major obstacle. We overcame this by strengthening our asset-light model, ensuring robust cash flows, and focussing on premiumisation to improve margins. Agility and staying attuned to consumer needs allowed us to turn challenges into opportunities,” he mentioned.

Nevertheless, the industry’s resilience shone through as brands implemented strategic solutions to navigate these difficulties. Investments in technology and sustainable practices helped mitigate challenges, ensuring continued growth.

Urban and Rural Synergies

As the alcobev sector looks ahead, balancing urban sophistication with rural potential has become a critical focus. While metropolitan regions continue to demand premium products, rural areas present untouched opportunities for growth through tailored offerings and localised strategies.

Bhargava described Proost’s approach to addressing this divide. “In cities like Delhi and Gurgaon, we are concentrating on launching lagers that cater to refined tastes. For rural markets, the weight is on deeper penetration and affordable products that resonate with local preferences,” he shared.

Simba Beer and ZigZag Vodka, co-founded by Ishwaraj Singh Bhatia, are also pursuing a dual-market strategy. “Rural and urban audiences require distinct approaches. By combining innovation with eco-conscious practices, we’re catering to the needs of both markets effectively. Plans are underway to introduce new flavours and experiences that further immerse consumers in our vibrant world,” Bhatia noted.

Future Outlook

Looking ahead to 2025, the alcobev industry is poised for further growth, with estimates suggesting a valuation of $60 billion and annual sales exceeding 1.2 billion cases. The focus on innovation, sustainability, and health-conscious options is expected to drive this expansion.

Jain shared his company’s plans for the upcoming year. “We are introducing vodka flavours inspired by regional and global culinary influences, launching limited-edition artisanal vodkas aimed at connoisseurs who value exclusivity, and enhancing our presence in emerging markets like Europe, Australia, Asia, and Latin America. We will also strengthen our reach in established regions such as the U.S. and the Middle East by forming partnerships with premium distributors,” he said.

Ishwaraj Singh Bhatia, Co-founder and COO, Simba Beer and ZigZag Vodka.

Bhatia accentuated the importance of aligning with evolving trends. “We foresee 2025 as a year of experiential consumption, eco-friendly practices, and personalised premium offerings. At ZigZag, we will focus on creating immersive brand experiences, implementing sustainable methods, and collaborating with mixologists to craft innovative, trend-driven products that resonate with today’s consumers,” he conveyed.

Damodaran pointed to two critical trends expected to shape the future of the alcobev industry. “Affluent consumers are seeking bespoke, exclusive experiences, while younger demographics are driving the demand for low- and no-alcohol options,” he observed.

Damodaran also talked about plans for Indian craft spirits. “We are closing 2024 on a high note with Godawan’s entry into the UK market. In 2025, we aim to build on this momentum through The Good Craft Co.,” he added.

Tilaknagar Industries Ltd. has ambitious goals for the year, particularly in the brandy segment. “In 2025, our aim is to increase brandy’s ‘share of voice’ in the market,” stated Dahanukar. “Following the launch of our luxury brandy and whisky portfolio, we plan to drive further marketing investments. Monarch, in particular, has already seen strong pre-order interest from export markets in Asia and the Middle East, and we intend to deepen our reach in southern India. Alongside this, we are preparing to expand our portfolio across both local and international markets,” he informed.

As the industry evolves, driving change and nurturing creativity will remain essential for long-term success.

Ring in the New Year with these Cocktail Recipes

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It’s the holiday season and what better way to celebrate than to sip on some truly exceptional cocktails? Dive into this list of must-try cocktails to bring in the festivities. Whether you’re throwing a New Year’s party or enjoying a cosy holiday dinner, try your hand at these festive and flavourful concoctions from some of India’s top brands which are bound to bring in the festivities and leave one in great spirits (pun intended)! 

Madras Mahura by Six Brothers Small Batch  

Elevate your cocktail game with a vibrant and refreshing blend that marries the bold, heritage-rich flavours of Six Brothers Small Batch Mahura with the tangy brightness of cranberry and orange juice. Madras Mahura is the perfect drink to celebrate in style – Six Brothers Mahura’s floral spice notes add depth, while the cranberry juice delivers a crisp, slightly tart kick, perfectly complemented by the sweet and citrusy notes of fresh orange juice. 

This holiday season, elevate your celebrations with Six Brothers Small Batch – India’s first global luxury heritage spirit. Made from 100% Mahura flowers, indigenous to India, this exquisitely sophisticated and versatile white spirit is destined to become a global icon. Just as top-tier spirits like Tequila defines Mexico and Scotch represents Scotland, Mahura is set to represent India on the world stage as our global ambassador – a spirit that is uniquely and authentically ours. South Seas brings you the most refined expression to date with a distinct and unforgettable flavour profile. Double distilled in India’s largest copper pot stills, which also distill India’s oldest single malts Crazy Cock Single Malt Whisky, Six Brothers is further platinum filtered for a clean finish.  

 Ingredients: 

  • Ice cubes 
  • 60 ml Six Brothers Mahura  
  • 90 ml cranberry juice  
  • 30 ml orange juice  
  • An orange peel (for garnish) 

Method: 

  • Fill a highball glass with ice cubes
  • Add Six Brothers Mahura, cranberry juice, and orange juice over the ice
  • Stir gently to combine the ingredients
  • Twist a strip of orange peel over the drink to release its oils, then place it as a garnish

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The Spice Route Negroni by Monarch Legacy Edition 

If you haven’t explored brandy cocktails yet, here’s your cue. Monarch invites you to experience ‘A Royal Welcome’. This brandy stands out as the world’s only 100% pure grape brandy that marries both French grape spirits aged up to eight years with the finest Indian grape spirits from the Sahyadri region. 

The Negroni, a timeless classic, is traditionally known for its balance of bitterness and sweetness, usually crafted with gin, Campari, and sweet vermouth. However, when crafted with an exquisite brandy like Monarch Legacy Edition, this iconic cocktail takes on a delightful twist that adds depth and warmth to its profile. 

This drink carries a smooth, rich texture and subtle hints of dried fruit, caramel, and oak. These nuanced flavours complement the vibrant bitterness of Campari, while the sweet vermouth introduces a gentle sweetness that harmonises perfectly with the brandy’s complexity. The result is a Negroni that’s both familiar and refreshingly new – a warm, rich take on the classic that stands up to the bold, herbal Campari and brings a unique elegance to the drink. 

Ingredients: 

  • Monarch Legacy Edition – 30 ml 
  • Spiced vermouth infused with nutmeg and star anise – 30ml 
  • Campari – 30ml 
  • 2 dashes of orange bitters 
  • Glass: Old fashioned 
  • Ice: Block 

Method: 

Add all ingredients into a mixing glass, stir and serve chilled in an old-fashioned glass over a block of ice. Garnish with star anise. 

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Añejo Manhattan by Pistola 

A festive twist on a timeless classic, the Añejo Manhattan combines deep amber tones and a smooth, smoky finish that perfectly captures the warmth of the holiday season. Featuring Pistola’s 100% Agavepura Añejo, an additive-free and famously smooth spirit, it pairs beautifully with the sweetness of vermouth and a hint of cinnamon, evoking cosy Christmas vibes. Easy to recreate at home, this cocktail offers a refined drinking experience that’s as guilt-free as it is hangover-free. Cheers to a no-brainer way to toast the season! 

 Ingredients: 

  • 22 ml – Sweet Vermouth 
  • 45 ml – Pistola Añejo 
  • 5 ml – Cinnamon Syrup 

Method: 

  1. Assemble all ingredients along with ice, in a beaker and stir
  2. Pour into a Nick & Nora glass
  3. Garnish with a Maraschino cherry

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Down The Chimney by Geist Brewing Co.  

Rich, bold, and brimming with festive cheer, Down the Chimney strikes the perfect balance between sweetness and citrusy zest. The warming notes of whisky are elevated with orange bitters and chocolate liqueur. Topped with a gold coin garnish, it’s a sip of holiday magic. 

Ingredients: 

  • Whisky – 30 ml 
  • Orange Bitters – 3 dashes 
  • Chocolate Liqueur – 45 ml 
  • Chocolate Coin as garnish 

Method: 

  • Add the ingredients into a mixing glass
  • Stir together with ice
  • Pour into a chilled glass and garnish with a chocolate coin

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Gold Rush with D’yavol Vortex  
 
Gold is the colour that exudes royalty and sophistication. Take your festive gatherings to the next level with Gold Rush, a cocktail that radiates charm. With D’yavol Vortex as its star, this drink is pure liquid luxury – a toast to the rebels, the dreamers, and the ones who dare to stand out.  

Ingredients: 

  • D’yavol Vortex Blended Scotch Whisky – 60 ml 
  • Lime juice (clear) – 20 ml 
  • Sugar syrup – 20 ml 
  • Blue pea tea – 200 ml 
  • Rhubarb bitters – 3 drops 
  • Lecithin powder – 1 gram 

Method: 

  • Shake D’yavol Vortex, lime juice, and sugar syrup together
  • Strain the mixture over ice in an Old-Fashioned glass
  • Prepare the blue pea and rhubarb foam by blending both with lecithin powder with a hand blender until foamy
  • Spoon the foam over the cocktail
  • Garnish with a touch of sweetness for a festive and striking presentation

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Brandy Alexander by Tulleeho 

Decorated homes, parties by a fireplace, a huge spread of food and the best of baked desserts, Christmas is a gastronomic delight! Rest assured no matter how cold it gets, they will warm you up, here are some easy-to-whip cocktails for the season, perfect for your Christmas table. 

Ingredients: 

  • Brandy – 60 ml 
  • Fresh cream – 30 ml 
  • Chocolate syrup –15 ml 
  • Nutmeg powder – a sprinkling 
  • Ice cubes – to fill shaker 

Method: 

  • Fill a shaker with ice, pour in all the liquid ingredients
  • Shake well and strain into a chilled cocktail glass
  • Sprinkle the powdered nutmeg on top and serve

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Godawan Espresso Martini by Godawan Artisanal Indian Single Malt 

Elevate your holiday celebrations with the Godawan Espresso Martini, a rich and indulgent drink that balances festive warmth and sophistication. The fruity spice of Godawan 02 pairs beautifully with the robust intensity of espresso and the creamy sweetness of almond syrup, creating a luscious blend of flavours. Finished with a sprinkle of nutmeg, this is sure to be a show-stopping addition to any holiday gathering. 

Ingredients: 

  • Godawan 02 – 50 ml 
  • Espresso – one shot 
  • Orgeat or almond syrup – 10 ml 
  • Nutmeg for garnish 

Method: Shake everything together and fine strain it out into a cocktail glass. Garnish with grated nutmeg. 

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Not So Dirty by Mossant Fermentary 

 Move over, martinis – this holiday season, it’s time to embrace the vodka-forward sophistication of “Not So Dirty”.  

 Mossant’s clean-label Rosemary Tonic adds a festive, herby twist, elevating this cocktail to holiday showstopper status. This cocktail blends herbaceous and savoury notes with a hint of floral sweetness. It’s also incredibly simple to make! 

 Ingredients: 

  • 50ml Grey Goose Vodka 
  • 5ml Elderflower Syrup 
  • 30ml Olive Brine 
  • Mossant Rosemary Tonic 
  • Rosemary Sprig (for garnish) 
  • Brined Olive 

Method: 

  1. Fill a glass with a block of fresh ice
  2. Pour in 50ml Grey Goose vodka
  3. Add 5ml elderflower syrup and 30ml olive brine
  4. Top up with Mossant Rosemary Tonic for that aromatic, botanical punch
  5. Stir gently to mix
  6. Garnish with a fresh rosemary sprig and a brined olive

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United Breweries Limited launches Amstel Grande, ushering in a new era of Premium Beer in India

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United Breweries Limited (UBL) recently announced the launch of its iconic premium beer brand, Amstel Grande, in India. The grand unveiling took place at an immersive event in Mumbai, where the entire theme transported attendees to the streets of Amsterdam. With this launch, UBL introduces a new era of premium beers in India, combining brewing excellence with over 150 years of heritage from Amsterdam.

The event saw the presence of celebrities including Aditya Roy Kapoor, Rannvijay Singha, Varun Sood, Raghu and Rajiv, Kusha Kapila, Jim Sarbh, Barkha Singh and Ahsas Channa.

Amstel Grande promises to offer Indian consumers an unparalleled beer experience, thanks to its secret ingredient: time. The beer is slow brewed and matured longer, allowing its flavours to fully develop, resulting in a rich, smooth taste. Crafted using the finest quality barley, unique Dutch yeast, and carefully selected hops, each sip of Amstel Grande is a testament to the brand’s unwavering commitment to quality.

Vikram Bahl, Chief Marketing Officer of United Breweries Limited,

Speaking about the launch, Vikram Bahl, Chief Marketing Officer of United Breweries Limited, said, “We’re thrilled to unveil Amstel Grande, a premium strong beer crafted for the refined tastes of Indian consumers. Through its meticulous slow brewing process and high-quality ingredients, Amstel Grande delivers a truly unique beer experience. Tailored to the Indian market, it’s poised to satisfy the rising demand for premium beers and we are confident it will surpass expectations. Amstel Grande is set to become a standout in our premium portfolio.”

Since 1870, Amstel has embodied the art of brewing, starting with two friends’ dream of a better beer in Amsterdam. Now, as one of Heineken’s iconic brands enjoyed in over 100 countries, Amstel brings its rich heritage to India with Amstel Grande. This premium brew reflects Amstel’s commitment to quality and its philosophy of being ‘Brewed for Bonding’, creating moments for connection and celebration among friends.

Amstel Grande arrives in India after a carefully curated journey, crafted specifically to match Indian tastes. With no added sugar and perfected through extensive global and local testing, it achieved top scores in blind tastings, setting a new standard in premium beer. Offered in 330ml, 500ml, and 650ml, Amstel Grande is designed to suit a variety of preferences, making it an exciting choice for discerning beer lovers.

United Breweries views Amstel Grande as a flagship initiative in the premium beer segment for the coming years. Developed locally in India, this launch meets the demand for a premium strong beer with global appeal and international quality, globally inspired, locally brewed. The packaging, designed with young, premium beer enthusiasts in mind, reflects the beer’s Amsterdam roots with illustrations of iconic Dutch architecture and scenic canals, capturing the charm of Amsterdam in every bottle.

Amstel Grande is now available in Maharashtra, with plans for expansion to other states in the near future. Amstel Grande is competitively priced at ₹160 for 330ml bottle, ₹195 for 500ml can and ₹250 for 650 ml bottle and readily available at leading outlets across Maharashtra.

Bar Takeovers in India: The Fusion of Cultures, Cocktails, and Creativity

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India’s bar scene is undergoing a vibrant shift with the rise of mixologists hosting exclusive pop-ups. These events are reshaping the nightlife experience, blending diverse global techniques with local creativity and setting the stage for a more dynamic and experimental drinking culture.

What started out as a few brave moves by daring mixologists has now emerged as a fast-rising trend within the bar ecosystem across the globe. This experience, which is now disrupting the bar scene, has not only enhanced the adventure of local bar customers, but makes it possible for them to experience the ethos and have a taste of signature drinks from bars all across the world without ever leaving their city.

Imagine visiting your local bar for your routine cocktail only to find a whole different pop-up menu because a bar from a country – thousands of miles away has brought in their mixologists – to give you an experience of a lifetime. The over $1.6 billion global alcobev market is estimated to reach almost $2.25 billion in 2033, a nearly 40% increase in value over the next 10 years. It is expected that this new culture will play a huge role in making that growth possible.

In India’s $55 billion alcobev industry, the bar takeover trend is making strong waves, revolutionising the experiences of bar owners, nomadic mixologists, and consumers. The trend has become so pervasive that in cities like Kolkata, Delhi, Bengaluru, and Mumbai, visiting mixologists from places such as Hong Kong, Singapore, Italy, and other thriving regions have transformed local bars into a potpourri of international tastes and flavours, leaving a lasting impression.

In our bid to understand the trend and why it has become a critical part of the Indian bar scene, we spoke to operators in the industry who provided rich insights on the subject, as well as what they expect takeovers to achieve in the industry.

Why Have Bar Takeovers Become A Popular Trend In India?

Dilbar Singh Rawat, Head Mixologist

It often takes one try and local bars and their customers fall in love with the takeover experience. For Loya at Taj Palace, New Delhi, bar takeovers are an opportunity to collaborate with award-winning mixologists and establishments who bring world-class innovations and fresh perspectives, elevating the guests’ experience. “These events introduce our patrons to diverse cocktail cultures while staying true to the rich storytelling-centered ethos of Loya,” says Dilbar Singh Rawat, Head Mixologist.

What the above submission suggests is that while bar takeovers bring new experiences through new flavours, bars need to make sure they are in line with their overarching philosophy, culture, and narrative.

Aranya Sain, Associate Director of Food & Beverage at Kolkata’s JW Marriott

This is what Aranya Sain, Associate Director of Food & Beverage at Kolkata’s JW Marriott meant when he said that the styles of mixologists that the brand invites must align with that of the brand. “Hosting mixologists for takeovers and pop-ups allows us to bring fresh talent and global trends directly to our guests, keeping the cocktail scene vibrant.

“Our selection process focusses on collaborating with mixologists who bring innovative techniques, bold flavour profiles, and a shared passion for crafting elevated drinking experiences. We also consider mixologists who have a strong following, ensuring that their style aligns with our brand’s vision of luxury and sophistication,” says Sain.

Gurjas Sahni, Founder and Partner of Loca

For these brands, there’s also the place of diversifying their offerings and imbibing learning and knowledge sharing. The constant interplay of culture, experience, and influences enriches the local menu and helps consumers travel around the world of alcobev while remaining in their neighbourhood bar. As Gurjas Sahni, Founder and Partner of Loca says, it is about incorporating different shades and unique perspectives of the same overriding story.

“We not only diversify our cocktail offerings, but also create an atmosphere of learning and inspiration for both our team and patrons. We see it as a way to celebrate the art of mixology and highlight the unique perspectives of these artists. When selecting mixologists, we look for individuals who bring something distinctive to the table – whether it’s through innovative techniques, a deep connection to specific ingredients, or a unique narrative behind their craft,” he says.

Atilla Iskif, who recently visited India for a pop-up with House of Suntory, reflected on the growing trend of bar takeovers. “There’s a real curiosity in India for elevated drinking experiences. People here are eager to try innovative cocktails and explore global trends, which is exciting to see. I think international collaborations will only grow, bringing fresh ideas and flavours to the mix and making India a key destination for progressive mixology. Japanese spirits, especially whisky and gin, have a finesse that resonates beautifully with the evolving Indian palate. House of Suntory’s dedication to heritage and craftsmanship fits perfectly with this growing appreciation for artisanal spirits. I enjoy blending Japanese refinement with Indian ingredients to create something truly unique. The response has been incredible, and I’m confident this trend will continue to grow as people seek more sophisticated and meaningful drinking experiences.”

Assessing The Impact Of The Intrusive Bar Takeover Trend

There are quite a number of stories of how footfalls increase and sales surge during takeovers. While these are important, it is more about the lasting impression, the change in attitude, and the scenery that such experiences create. Siddhant Hule, Brand Ambassador for Himmaleh Spirits enlightens that such pop-up takeovers enhance creative collaborations, support improved curative experiences, are social media-friendly, and promotes tourism and global exposure.

“This brings a fresh and exciting appeal to regular patrons and attracts cocktail enthusiasts eager to try something different. International bartenders and global beverage brands are participating in Indian bar takeovers. Hence, the concept taps into India’s growing exposure to global nightlife trends. Cities like Mumbai and Delhi are positioning themselves as global food and drink destinations, making these events part of a broader trend towards cosmopolitan nightlife,” says Hule.

Indeed, the impact of bar takeovers transcend the four corners of the bar to capture even the benefits it can have on tourism and the broader economy. But this begins with the catalytic effect it has on the consumer’s attitude to try new things, embrace global experiences, and see their local bar as one that is forward-thinking and dynamic. Sahni says it is about the novelty and excitement that the experiences bring.

“They bring a sense of novelty and excitement, as each takeover introduces new cocktails and fresh perspectives, keeping our regular guests engaged while attracting new faces. These events allow customers to explore innovative drinks, interact directly with guest mixologists, and be part of the ever-evolving cocktail scene. “Our collaboration with Sidecar was a milestone for 2fifty9 The Bar, bringing their award-winning mixology and signature blends to our patrons. The event showcased innovative cocktails and cemented our reputation for partnering with the best. We also hosted its first international bar takeover with Yeonghwi Yun of Bar Cham, Seoul, ranked 20 in Asia’s 50 Best Bars 2024. Known for modern Korean mixology, Bar Cham offered a rare taste of Seoul’s vibrant cocktail culture in Kolkata. We’ve definitely noticed an increase in footfall during takeovers, especially from younger, more adventurous crowds eager to try something unique,” he notes.

Sain and Rawat agree with this perspective, adding that bar takeovers attract new and adventurous customers as well. “The allure of a bar takeover lies in the promise of an exclusive, one-of-a-kind experience. For our regular patrons, it’s an opportunity to see their favourite bar at Loya in a new light, with exciting additions to the usual cocktail offerings. Meanwhile, new guests are often drawn by the buzz surrounding the event, especially as word-of-mouth spreads through social media, personal recommendations, and media coverage.

“This increased visibility generates curiosity, encouraging a broader range of guests to attend, from cocktail enthusiasts to those looking for an immersive and memorable night out. As a result, we typically see a noticeable increase in footfall during these events, with both familiar faces and newcomers filling the venue. We’ve had the privilege of hosting bar takeovers featuring some of the world’s most renowned mixologists, representing bars that have earned prestigious spots on both the World’s 50 Best Bars and Asia’s 50 Best Bars lists. These collaborations have truly elevated the experience at our Loya Qissa. Our takeovers have spanned across the globe, with guest bartenders hailing from illustrious venues like Locale Firenze in Italy, Native in Singapore, Vender in Taiwan, and Le Chamber in Korea. Each of these bars is celebrated for its innovation, craftsmanship, and unique approach to mixology, and having their top bartenders behind our bar has been nothing short of phenomenal,” says Rawat. Adding to these perspectives, Hule says there is also the aspect of the craft and how takeovers enhance mixology and promote the work of mixologists.

“Bar takeovers play a significant role in promoting mixology as an art form and are crucial for the growth and recognition of mixologists as these takeovers give mixologists a platform to showcase their creative mastery, exchange knowledge and culture at the bars the takeovers happen, an opportunity to directly interact and engage with consumers, educating them about the products and drinks being served making takeovers very important from the point of view of mixologists and brands,” he states.

Sharing his viewpoint, Iskif explains, “Bar takeovers and pop-ups are an exciting way to bring my personal style and craft to different audiences. The inspiration comes from the desire to push boundaries and introduce new experiences to people who might not have the opportunity to visit my bar. These events allow me to share my passion for mixology with a broader audience, engage directly with guests, and gain fresh perspectives on how different cultures interact with cocktails.”

Challenges And Obstacles To Successful Takeovers

Challenges of logistics, planning, and preparation often hamper successful takeover events. This is why understanding what is needed and planning ahead is important. Although the element of surprise can be good, it is always best to pre-inform your customers and people in the city of a takeover event and plan ahead based on estimated attendance. A typical issue to resolve is who takes care of the travel and logistics cost; the host bar or the visiting team?

When resolved, it is important to follow up to ensure nothing goes wrong. More importantly, the host bar has a role to play to ensure that guests show up in large numbers to make the experience worth it. Guest mixologists must also be properly accommodated, move around the city seamlessly, and well taken care of. Another major aspect is the event itself.

One thing that Rawat talks about is the availability of ingredients. “One of the primary tasks is making sure that all the necessary ingredients are available in sufficient quantities and meet the quality required for the event. This involves coordination with suppliers to source rare or specialised ingredients that might not typically be used in our regular menu. It also requires close communication with the guest mixologist to understand their cocktail recipes, preferred brands, and any unique components that may need to be procured well in advance,” he says.

As for Sahni, it is more about ensuring that the bar setup meets the specifications of the visiting mixologist. “One of the main challenges is aligning our bar setup with the guest mixologist’s specific requirements. They may bring in unique ingredients, equipment, or techniques that our team needs to adapt to. This requires detailed pre-event coordination to make sure we have everything on hand and that our space is conducive to their style.

“We also need to prepare our staff thoroughly. This involves briefing them on the special cocktails being served, any new methods or ingredients the mixologist will use, and the flow of the event,” he adds.

The Future Of The Bar Scene In The Face Of Rising Takeovers

It is clear that bar pop-up takeovers have come to stay. With positive feedback across the board and a desire to continue to innovate and curate new experiences, there’s no limit to what the future holds. This is what Rawat suggests when he says there’s so much to look forward to in the future. “As customers increasingly seek out curated, bespoke experiences that go beyond the ordinary, bar takeovers have become a way for venues to stand out in a competitive market.

“They provide a platform for experimentation, where bartenders can push boundaries and patrons can engage with something new and exciting. Moving ahead, we are confident that this trend will continue to grow and evolve, becoming a significant part of the nightlife landscape in India.” However, he warns that venues and visiting mixologists have a role to play to sustain the growth trend, especially in the area of maintaining high standards and being flexible.

Sain’s opinions are similar to those of Rawat with regards to sustaining the trend. According to him, all hands must be on deck. “As long as we continue to innovate and keep the experiences fresh – whether through unique themes, storytelling, or collaborations – I believe bar takeovers have a sustainable future in India’s nightlife, especially in cities like Kolkata that are eager for new culinary experiences,” he says.

Australian premium wines return to Mumbai

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To leverage the opportunities from the Australia-India Economic Cooperation and Trade Agreement (ECTA) and the increasing demand from the Indian consumers, a number of Australian wineries are attending ProWine Mumbai 2024 to showcase Australian premium wines and connect with Indian importers and consumers.

The Australian Trade and Investment Commission (Austrade), in partnership with Global Victoria, Investment NSW and with the support of Wine Australia are bringing together 11 Australian wineries to showcase their portfolio of wines at ProWine Mumbai 2024.

The Australian pavilion features wines from 11 Australian wineries that highlight the diversity, uniqueness, and evolution of Australian wine. Some of these wines will also be showcased in two masterclasses presented by Sommelier Nikhil Agarwal (one of which is being delivered by the South Australian Government).

Speaking about the Australian participation, John Southwell, Senior Trade and Investment Commissioner – South Asia, Australian Trade and Investment Commission said, “The spirit of cooperation between India and Australia drives our desire to work closely with Indian importers and provide Australia’s finest wines to India, promoting economic ties that further unite the two countries. This includes engaging in technical cooperation to promote the further growth of the Indian wine industry. We are excited to honour this close relationship by showcasing a variety of Australian wines at ProWine Mumbai.”

Australia has one of the most diverse wine scenes in the world. With more than 100 grape varieties grown across 65 distinctive wine regions, Australian wine is an expression of Australia’s unique climates and soils and the passionate communities that cultivate them. From sophisticated reds, to fun, fruity whites, wine to impress or something casual for the weekend, discerning Indian consumers can find a perfect match in the wines crafted by Australia’s innovative winemakers – especially when paired with the diversity of Indian cuisine.

As a global leader in the wine industry, Australia is the sixth largest producer of wine and fifth largest exporter of wine in the world, exporting approximately 60% of its total production worldwide.

The Australia-India Economic Cooperation and Trade Agreement (ECTA) entered into force on 29 December 2022. Key ECTA market access outcomes related to wine include:

A phased reduction in the 150% tariff to 50% over 9 years for bottles valued between US$5 and US$15;

A phased reduction in the 150% tariff to 25% over 9 years for bottles valued over US$15.

What India Poured, Sipped, and Loved this Diwali

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As India celebrated Diwali, evolving drink trends revealed a preference for fusion flavours, premium spirits, and wellness-driven options, showcasing a significant shift in festive indulgence.

Diwali, one of India’s most important annual celebrations, is a time to reflect, celebrate, and embrace the spirit of gratitude for all the good the year has brought. For the business world, especially those in the food and beverage sector, it is an ideal occasion to tally gains and analyse consumer trends, as Diwali sparks significant economic activity and provides insights into consumer behaviour as the year winds down.

With this year’s Diwali celebration, it is important to examine India’s beverage preferences during the season and how different products perform. Understanding these trends not only highlights drinking patterns, but also equips the beverage industry, particularly alcobev players, to plan effectively for future festivals.

For example, official sources reveal that liquor sales in Delhi set a new record in the two weeks leading up to Diwali, totaling 38.7 million bottles and generating ₹447.62 crore in government revenue through excise duty. This massive feat, recorded between October 15th and 30th, is largely in preparation for the festivities. Interestingly, 2.98 crore bottles out of the total are Indian Made Foreign Liquor (IMFL), alongside 89.48 lakh beer bottles.

Similarly, sales recorded between October 29 and November 1 in Uttar Pradesh are 25% higher than in 2023, generating ₹7 crore more compared to the previous Diwali season.

We caught up with some renowned players in the alcobev scene to explore what Indians drank this Diwali and how these choices reflect their evolving preferences for celebratory beverages.

Drinking pattern and preferences

What better way to showcase the success of the alcobev industry during this year’s Diwali festivities than to highlight the remarkable performance of this year’s Indri Diwali Collector’s Edition, priced at ₹15,000? With its presence in Gurugram, Haryana, the collection rises to global acclaim, earning the coveted ‘Gold Medal’ at this year’s Whiskies of the World Awards, further building on the success of last year’s edition.

Paul P. John, Chairman of John Distilleries Pvt Ltd

According to Paul P. John, Chairman of John Distilleries Pvt Ltd., the season saw Indians gravitate towards beverages that symbolise festivity and celebration while blending cultural and contemporary influences. This comes at a time when Indians are demonstrating their growing sophistication and creativity through their evolving alcobev preferences.

“We saw a marked preference for beverages that blended traditional flavours with fashionable Indian twists, such as Indian craft spirits like Malhar Gin mixed with regional sharbats like nannari and fuljar soda from Kerala, kokum from Goa, and thandai malhar from Gujarat, Uttar Pradesh, and Rajasthan. These beverages offer a refreshing and festive touch to celebrations. Consumers are increasingly exploring innovative cocktail programmes that emphasise local ingredients and unique flavour profiles,” he explains.

Rahul Sangoi, CEO & Co-founder of RIO InnoBev Pvt. Ltd

With this trend, brands are responding with festive-themed offers, which prove effective in attracting both regular and new consumers. Rahul Sangoi, CEO & Co-founder of RIO InnoBev Pvt. Ltd., agrees, noting that Indians’ preferences showcase a fusion of timeless tradition and progressive tastes.

“Indian consumers showed a strong preference for flavours that bridge tradition and modernity. Rich, indulgent essences like mango, mixed berries, guava, jeera, mojito, masala chaas, and kokum remained popular due to their cultural relevance. However, there was also a growing interest in refreshing, exotic profiles, such as tropical fruit blends like acai berries, peach, kombucha, and lemon mojito,” he enlightens.

Rajiv Thadani, Managing Director of Goa-based Fullarton Distilleries

Rajiv Thadani, Managing Director of Goa-based Fullarton Distilleries, echoes this sentiment, stressing a shift toward nuanced taste profiles. “Consumers are gravitating toward spiced and aromatic profiles, which bring warmth and depth to festive gatherings. At Fullarton Distilleries, we embraced these preferences by highlighting Pumori Gin’s subtle botanicals and Woodburns Whisky’s smokey undertones, both of which offer layered, celebratory tastes.”

“Additionally, cocktails infused with Indian spices, such as star anise, cinnamon, and cardamom, were particularly popular as they enhanced the festive feel,” he adds.

Wines also made their presence felt, adding a touch of sophistication to Diwali gatherings. Kaushal Khairnar, Winemaker at Moët Hennessy India, notes, “Indian consumers showed a preference for refreshing and versatile sparkling wines that complemented the lively, celebratory spirit of the season.”

“At Chandon, we catered to these preferences with a diverse portfolio tailored for the Indian palate. Our Chandon Brut and Chandon India Rosé, crafted with 100% Shiraz, provided a crisp and refreshing taste, ideal for India’s warm climate and festive gatherings. For those desiring a sweeter, aromatic option, Chandon Delice was a popular choice, well-suited to everyday celebrations and Diwali festivities. During the festive season, the interest in premium and craft sparkling wines was evident, as consumers sought unique, high-quality options. Chandon’s Vintage 2015, our first-ever vintage sparkling wine, drew attention as a limited, collectible release,” he says.

The cocktail rave

Properly garnished and visually appealing cocktails and mocktails are another common feature during festivities because they add colour and thrill to celebrations. This Diwali was no different. In fact, things were taken a notch higher as mixologists and bartenders sought to outdo themselves in satisfying consumers. As Hemanshu Badola, Mixologist at VietNom, says, “To capture Diwali’s festive flavours, we incorporated the essence of kaju katli combined with marigold flowers into a unique liqueur. This kaju-marigold infusion paired perfectly with any preferred spirit, a touch of citrus, and a splash of soda.”

Speaking further, he says that many Indians also opted for simple cocktail recipes that could be easily prepared at home to capture the Diwali spirit. These included the Pickleback Shot, made with a preferred spirit containing 30ml of jalapeño juice and 30ml of lime juice, and a beer-based cocktail, requiring 40ml of orange juice, 15ml of lime juice, 15ml of passion fruit syrup, and a beer top-up. Spirit-based cocktails were also popular, but for him, the absolute favourite spirit among consumers during the Diwali season was tequila.

Stanley Fernandes, Corporate Bar Manager at Kyma BKC

As for Stanley Fernandes, Corporate Bar Manager at Kyma BKC, Mumbai, he treated his customers to a fusion of Indian tradition, seasonal extravagance, and festive nostalgia. “I started with saffron; it’s not just fragrant but luxurious, lending a golden hue that captured the opulence of Diwali. I infused it into gin for a Saffron Gin Fizz, giving the cocktail a floral surprise with rose water and a splash of tonic. Saffron is one of those spices that feels both ancient and festive, and seeing it bloom in the glass creates an instant celebration vibe.

“For a playful take, I brought in chai spices – cinnamon, cardamom, and cloves – which resonate with Indian warmth. Imagine a Chai-spiced Old Fashioned, where the depth of bourbon meets cosy, familiar spice. I served it with a cinnamon stick, so every sip was aromatic and perfect for chilly evenings. And of course, mango had to make an appearance! Though not exactly in season, frozen mango pulp became the star in my Mango Tamarind Margarita,” he muses.

Of premium, craft, and low-alcoholic drinks

Many in the industry believe craft drinks are the next best thing in India’s alcobev industry. Coupled with premium batches, this category offers a distinct experience that denotes luxury and class. As John says, “There’s a clear surge in the consumption of craft spirits during festivals.”

The trend continues as consumers demand quality and a more enriching drinking experience. For Thadani, it is about “the allure of authenticity, exclusivity, and craftsmanship in the premium segment that syncs strongly with today’s consumers, who are shifting away from mass-produced options.”

With a rising consciousness around health and wellness, India is also experiencing a revolution in the beverage industry. Consumers are welcoming low-alcohol and zero-proof cocktails, especially during the festive season, says John. “It’s like they’re finding new ways to enjoy the social side of drinking without always reaching for the high-proof options. People are looking for lighter drinks that still deliver on flavour and experience, allowing them to pace themselves across long nights of celebration and be present for all the events of the season.”

“There’s also an emerging focus on wellness, and people are genuinely appreciating drinks that are lower in alcohol or totally alcohol-free, yet crafted thoughtfully with ingredients that feel festive. Think of herb-infused sodas, spiced tonics, and botanical-based mocktails; these options offer the cocktail experience without the extra kick,” he concludes.

Scotch Whisky exports in first half of 2024 reflect global economic headwinds

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  • Export value of Scotch whisky in H1 2024 was £2.1bn, down £463.2m (-18%) compared with H1 2023 
  • Export volume of Scotch whisky in H1 2024 was 566m 70cl bottles (equivalent), down 64.3m (-10.2%) 70cl bottles compared with H1 2023 
  • H1 2024 is the 4th highest value export total since record began. 

The Scotch Whisky Association (SWA) has released new figures revealing that exports of Scotch whisky in the first half of 2024 have fallen by 18% compared to the same period in 2023. 

Data for H1 2024 shows that the value of Scotch whisky exports declined when compared with the first half of 2023 – a year in which the industry saw a reduction in exports after a record breaking 2022. Export value in H1 2024 was £2.1bn, down 18% on 2023. In the same period, the volume of exports fell by 10.2%, to the equivalent of 566m 70cl bottles – or 36 bottles of Scotch whisky exported each second, compared to 40 bottles per second in the first half of 2023. 

UK Government backs producers

Publishing the figures, which are collated by HMRC, the SWA called on the new UK government to take action to ‘back Scotch producers to the hilt’, as Prime Minister Keir Starmer promised to do in the run up to the General Election. This includes reducing the tax burden on Scotch whisky at the Budget on 30 October following the damaging domestic impact of the 10.1% duty increase in August last year. 

By value, the United States remains the largest global market in the first half of 2024. The industry continues to feel the impact of the 25% tariff on Single Malt Scotch whisky, levied between October 2019 and March 2021, which cost the industry £600m in lost exports and market share. The industry continues to press for a full resolution of the underlying trade dispute and ensure that Scotch whisky is removed from further harm in this critical global market. 

By volume, India is the largest market, with growth of 17.3% in the first half of 2024 compared with the previous year. This is despite the current 150% tariff on imports remaining in place. The SWA has called on the new UK government to redouble efforts to conclude the UK-India Free Trade Agreement. The phased reduction of the tariff would benefit industries in both the UK and India and could see the value of Scotch whisky exports grow by £1bn over five years. 

Commenting on export figures in the first half of 2024, SWA Chief Executive Mark Kent said, “The Prime Minister has promised to ‘back Scotch producers to the hilt’. These figures are a reminder that the success of Scotch whisky cannot be taken for granted and requires government support to ease the industry through short term volatility.  

“We are a resilient industry, exporting to over 180 markets, and are experienced in navigating such periods of turbulence, and we are confident of the long-term growth opportunities for Scotch whisky. But it is clear that the first half of 2024 has been challenging, as for other premium global exports. This has not come as a surprise given the volatile international situation affecting global industries and inflationary pressures which have fed through to consumers across global markets. 

Seeks Duty Cuts by New Government

“The UK Budget on 30 October is the first opportunity for the new Labour Government to show it truly supports Scotch. Last year’s double-digit tax hike on Scotch whisky in the UK, the largest in 40 years, has already lost HM Treasury almost £300 million in tax revenue. Beginning to reverse the damage by cutting duty on Scotch whisky will boost public finances and bolster the industry through this challenging period. 

“In addition, the H1 figures clearly show that our biggest market, the US, has not fully stabilised following COVID and the damage caused by the 25% tariff on Single Malt in the US. The permanent elimination of this tariff, going beyond the current five-year suspension, would remove uncertainty, give the industry increased confidence and allow our full focus to be on growing in this highly competitive spirits market. 

“It is welcome that the UK government has picked up negotiations on a UK-India trade agreement. Exports to India have been a bright spot in the first half of 2024, despite the current 150% tariff being a brake on future growth. Securing a deal which reduces the tariff would be a major boost to the industry and help to mitigate the impact of a slowdown in other global markets.”   

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Note: These tables/design/content is subject to copyright