NV Distilleries & Breweries Pvt. Ltd, the proud owner of the renowned Smoke vodka brand, is venturing into the realm of premium gin. Over the next two years, they have ambitious plans to expand their Smoke Lab portfolio by introducing premium brown spirits.
This week marked the unveiling of their Mohulo sipping gin, with a primary focus on international markets. Similar to their vodka journey, their global presence will initially be established through approximately 2,000 pre-sold nine-liter cases. On the domestic front, they are starting with just 10% of their overall volumes to gauge the local demand.
Target of Selling 1 Lakh Cases Annually by FY24
In an exclusive interview, Varun Jain, the company’s CEO, shared their strategic direction. “At this juncture, our primary target is the global market for our premium offerings. After gauging the initial response, we will contemplate expanding these brands within India. For instance, Smoke has garnered international acclaim, thanks to its incorporation of indigenous elements like pure saffron,” he affirmed.
As per the latest news, the company anticipates selling around 1 lakh cases annually by the end of FY24, primarily driven by exports to the United States. Over the past five years, Smoke Lab has invested ₹70 crore in the development and production of new brands and products.
The commodities segment primarily comprises extra neutral ******* (ENA), an exceptionally refined and neutral spirit derived from grains, sugarcane, or molasses, employed in the production of alcoholic beverages such as vodka and gin.
Approximately 95% of their business originates from domestic production, with a smaller proportion stemming from their overseas ventures, where their vodka takes center stage. The introduction of Mohulo gin, priced at ₹5000-5500 per bottle, is poised to contribute significantly to their revenue streams. “Our complete attention is dedicated to elevating our international presence to 8-10% by FY24,” Jain added looking at the business update.
The Indian alcoholic beverage market has witnessed a surge in competition within the premium spirits category in recent years, particularly post-pandemic. This influx is attributed to the launch of numerous new spirits across higher-priced and premium categories like rum, whisky, and gin. Notably, several firms, including Radico Khaitan, Stilldistilling Spirits, Spaceman Spirits, and Third Eye Distillery Holdings, have introduced new brands and variants this year alone. This heightened focus on premium categories is driven by the growing acceptance of Indian brands, largely due to compelling word-of-mouth endorsements.
