Jagatjit Industries to launch brandy, single malt whisky; raise ₹300 crore
Subscribe to enjoy similar stories. Jagatjit Industries, the maker of Aristocrat Premium whisky and other spirits, is set to launch a slate of products in early 2025 as part of its strategy to reinvent and premiumise its offerings. The company will enter the brandy category with the launch of Royal Medallion in January.
It will also introduce a craft white spirit and a single malt whisky by July. White spirits in the liquor market refer to clear spirits such as vodka, gin, and tequila. To fund the expansion, Jagatjit Industries is working on raising ₹300 crore through private equity by the end of 2024.
The funds will also be used to repay debt and repurchase underperforming franchises. Speaking exclusively to Mint, promoter and chief restructuring officer Roshini Sanah Jaiswal said the company earns royalties from its franchises in various states, but some have been underperforming. "We would like to regain control of these markets," Jaiswal said, adding that Assam, Delhi, and Andhra Pradesh have been strong performers, and she expects 30-40% growth in these states over the next two years with additional sales and marketing efforts.
The company is also preparing to re-enter Uttar Pradesh, Kerala and West Bengal. "We exited UP 18 years ago, but it’s a key market and we will restart business there in the next two months. The other two states will follow shortly," Jaiswal added.
A re-entry into Maharashtra is also under consideration. The Indian alcohol market operates under state regulation, which governs product pricing. In recent years, companies have focussed more on premium brands while reducing their dependence on entry-level products.
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