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

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.

Bacardí Rum appoints Roberto Ramirez Laverde as Global SVP

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The world’s most awarded rum welcomes back Roberto Ramirez Laverde as Global SVP, Bacardĺ rum, effective immediately. Roberto takes on an open role following the promotion of Ned Duggan to Global Chief Marketing Officer of Bacardi and President of Bacardi Global Brands Limited. Roberto reports to Ned and joins the Marketing Leadership Team. He will be based in Bermuda.

During his previous tenure at Bacardi from 2013-2019, Roberto contributed to building the premiumisation strategy for the company’s aged Bacardĺ rums and Facundo rum collection. He contributed to launching the iconic rum brand’s portfolio of premium, aged rums and building the architecture that continues to define the premium rum category. Earlier in his Bacardi career he led the Rums Category for Latin America and Caribbean Region, originally joining Bacardi in 2013 as Marketing Director for Mexico. There he supported brands across the portfolio including Bacardĺ rum, Grey Goose Vodka, Bombay Sapphire, Dewar’s Scotch Whiskey and Patrón Tequila.

“In addition to being a brilliant marketer, Roberto understands the value of consumer mindsets, and equally important, he gets Bacardi. He knows our people, our culture and brings a strong track record of collaborating that is key to continue unlocking even greater growth for the brand across the globe,” says Ned Duggan.

Roberto rejoins the brand from Mastercard in Latin America and the Caribbean where he served as Senior Vice President Marketing and Communications for the last four years.

“I am thrilled to be back at Bacardi and to work with the incredibly talented team who has been building and leading the brand. Together, I know we will build Bacardi’s next great story,” says Roberto Ramirez Laverde.

Originally from Mexico, Roberto is fluent in Spanish, a father of four girls and a multi-awarded marketer, including “1 of the 10 most Effective Marketers in Latin America” and most recently, “Best Regional Marketer in Latin America” by Adlatina, an AdAge partner.

Bacardí Rum Launches Limited-Edition Five-Year Cask Finish Series with The Release of Reserva Ocho Sherry Cask Finish

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To kick off National Rum Day, Bacardí Rum recently announced it is expanding its premium portfolio range with the launch of a limited-edition Bacardí Reserva Ocho Sherry Cask Finish. This new rare rum offering marks the start of a five-year collection, which will see Bacardí unveil a new cask finish offering annually through 2025, with the cask finish changing each year based on the type of barrel used for the additional aging.

Each of the premium rums from the Bacardí Reserva Cask Finish series will begin with a base of Bacardí Reserva Ocho, aged under the Caribbean sun, and then finished for several additional months in a unique barrel that will change year to year. The finishing process differs from the aging process by increasing the complexity of the spirit – in this case, adding subtle notes of chocolate and almond, which are not typically found in Bacardí Reserva Ocho.

This year’s inaugural release has been aged in American oak barrels for eight to 12 years and finished in an Oloroso sherry cask for just over two months. These additional few months in the sherry cask allow the blend to take on a sweet, smooth velvety texture with notes of caramel, vanilla, and orange, along with hints of walnuts and almonds. The result is a deep mahogany flavour that gives off the aroma of dried fruits, raisins, walnuts, and almonds. This luxurious libation is best enjoyed neat in a room temperature tasting glass to bring out the full flavours of the finish.

A family-owned brand, Bacardí has been creating premium rums for dozens of years in collaboration with its deeply knowledgeable Maestros de Ron (Master Blenders), all carefully chosen and trained in seven generations of rum-making expertise who then shape and carefully craft all of the products. The rum blends from the new Reserva Cask Finish series are similarly crafted by Bacardí Master Blenders who selected the esteemed Bacardí Reserva Ocho as the base because it is based off of the original recipe from the family reserve created in 1862 and is a symbol of the brand’s heritage. The Oloroso sherry cask was chosen as the first finish in the series due to its origins from Spain, much like Bacardí founder, Facundo Bacardí Massó,

“We could not be more thrilled for the launch of Bacardí Reserva Ocho Sherry Cask Finish to add to our Premium portfolio for a limited time. This is our first innovation for the premium range since the portfolio first launched in 2018, and we are excited to introduce four more innovations over the course of the next four years,” said Lisa Pfenning, Vice President, Bacardí for North America. “We have seen an increased popularity in premium rums throughout the years, namely sipping rums, and we hope our rum enthusiasts will appreciate the care and craftsmanship that has gone into blending the Reserva Cask Finish series – which will add new layers of beautiful and bold flavours to our smooth aged rums. Not only will the taste appeal to rum drinkers, but we believe that whiskey drinkers will find themselves reaching for a bottle of Bacardí Reserva Ocho Sherry Cask Finish as well.”

According to the Distilled Spirits Council of the U.S., the rum category revenue increased by 5.9% in 2020, with most of the growth attributed to High-End Premium (8.7%), Premium (7.5%) and Super-Premium (3.7%) categories. Premium rums are an increasingly growing segment and there is no better time to announce the launch of the new programme than this very moment. According to Nielsen, Rum Cask Finishes revenue is growing by over 190%. As Cask Finishes are most commonly found within the whiskey segment, Bacardí is seeking to entice whiskey drinkers to explore outside of the category through the launch of its new five-year Reserva Cask Finish Series. Be sure to keep an eye out to see when the next four finishes will be announced through 2025.

To accompany the launch of this new product, Bacardí is teaming up with famed celebrity photographer, Cam Kirk, to create an original NFT (non-fungible token) inspired by the Bacardí Reserva Ocho Sherry Cask Finish. The partnership between Bacardí and Kirk is the embodiment of the rum brand’s ethos, Do What Moves You, which is a guiding principle rooted in self-expression and connectivity, celebrating creativity and individuality – something that Kirk puts forward in each of his many endeavours. The synergies between Kirk and Bacardí, formed by their shared passion for music and desire to move people both physically and emotionally, laid the groundwork for a natural partnership.

“Every time I take on a new project, I approach it with the highest level of precision and passion. I saw that exact precision and passion from the Master Blenders when they introduced me to the new Sherry Cask Finish and it was my honour to capture it for a fellow rum fan,” said Kirk. “This is my first-ever NFT, so I knew it had to be a truly special collaboration.”

Blended, not stirred! Bacardí Rum celebrates with Limited Edition Fruity Frozen Cocktail Kits

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Bacardí Rum has partnered with ‘Poptails by LAPP’ to launch a limited run of delicious Fruity Frozen Cocktail Kits for rum lovers to enjoy just in time for the revival of summer in the UK. Frozen cocktails are having a real moment and are currently the seventh most ordered serve for summer 2021, showing their universal popularity as Brits look to cool down from the summer heat.

Bacardí Fruity Frozen Cocktail Kits will be available to pre-order from 18th August for £35, exclusively on the Poptails By LAPP website. Perfect for cocktail lovers who yearn to evolve their mixology skills while creating easy-to-make, crowd-pleasing cocktails within minutes when entertaining.

Cocktail enthusiasts will be able to choose between two kit flavours – a tropical coconut and pineapple kit made with bold and fresh Bacardí Coconut to make a Rumstar Colada frozen cocktail (a twist on the classic Pornstar Martini), or a zesty berry kit which includes all the ingredients to make a delicious frozen Red Berry Daiquiri with tangy and sweet Bacardí Raspberry to enjoy and sip in the sun.

The Bacardí Fruity Frozen Cocktail Kits will keep summer going and transport you to a tropical paradise with a vibrant drinks experience – all from the comfort of your own garden and without needing any extraordinary bartender expertise, just a blender! The kits both feature the new limited edition Bacardí Raspberry and Bacardí Coconut bottles in addition to LAPP’s non-alcoholic flavoured Poptails that arrive frozen. Just blend for 10 seconds with the fruity expression from Bacardí and other recipe ingredients for the ultimate tipple.

Inspired by the Caribbean heritage and vibrant personality of Bacardí, the new limited edition bottles will make you feel like your back yard is a beach, bringing a summer holiday vibe to any bar cart or back bar. The design also reflects the natural flavours of the ingredients in Bacardí Coconut and Bacardí Raspberry, showcasing fresh flavour inside and out.

“With many Brits staycationing in the UK this summer, August will finally bring us some much-deserved heat and how better to celebrate than with a frozen cocktail!” says Marie Peyto, Brand Director for Bacardí Rum UK. “After partnering with key bars across the UK to bring delicious frozen cocktails to the public, we wanted to create a way for people to also enjoy at home with Bacardí Rum just in time for summer’s hot finale. Now anyone can create bar-quality frozen drinks in their own kitchen with our new Fruity Frozen Cocktail Kits in partnership with LAPP – complete with new eye-catching Bacardí Coconut and Raspberry bottles that are perfect for summer entertaining”.

Continuing the tropical, vibrant, and fun experiences this summer, Bacardí also announces the arrival of its new drink-dispensing billboard which will serve fruity frozen cocktails to the sun-lovers of London, creating a slice of paradise on the Thames. The public will be able to sample both Bacardí Coconut and Bacardí Raspberry in complimentary frozen cocktails on 21st and 22nd August from 12:00pm to 19:00pm at Observation Point, Southbank, and can vote for their favourite for the chance to win one of 10 Fruity Frozen Cocktail Kits to enjoy at home, in the flavour of their choice.