With this move, it said it aims to expand its bouquet of premium brandy offerings to cater to the preferences of new consumers. The company plans to further increase its market share in south, east and north-east India. The brand said it will have three fruit-based flavours for this product.
The firm was established in 1933 as Maharashtra Sugar Mills. It was then engaged in the manufacture of sugar and allied products.
Its brandy, Mansion House Brandy, it said, sold approximately six million cases in FY21-22. Amit Dahanukar, chairman and MD of the firm said the category continues to lead the company’s growth. “Brandy is the second largest product segment under the IMFL category. Flavoured premium brandy is a new domain, an untapped market and therefore offers a big opportunity," he said.
ICRIER said India is one of the largest consumers of alcohol at about $52.5 billion dollars (about ₹3.9 trillion) in 2021 and expects it to grow by 6.8% Compounded Annual Growth Rate till 2023.
According to the company’s estimates, the premium brandy market in India is expected to grow at a robust CAGR of 10-12%.
