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Wednesday, October 5, 2022

Radico Khaitan launches two new luxury products

Radico Khaitan Limited, one of the largest spirits companies in India (referred to as “Radico Khaitan” or the “Company”), today unveiled two new luxury products in the brown and white spirit categories. Magic Moments Dazzle Vodka, the luxury brand extension of the Company’s flagship brand, Magic Moments Vodka and Royal Ranthambore Heritage CollectionRoyal Crafted Whisky mark the onset of the festival season for Radico Khaitan who has been synonymous with innovation and premium quality offerings to the Indian spirits market.

Magic Moments Dazzle Vodka will be available in two variants, i.e. Magic Moments Dazzle Gold and Magic Moments Dazzle Vanilla. The blend is produced from the finest of grains and passes through 7-stage filtration system including carbon, silver, platinum & gold.

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Royal Ranthambore is crafted from different bespoke Blended Malt Scotch from various regions of Scotland. Scotch grain is also blended to harmonize the Whisky. It is a complex whisky with six Blended Malt Scotches, one Scotch Grain from Malted Barley and Oak Infused Grain Neutral Spirit, reserved for a specific time to assimilate the blend. With the launch of the product, the brand also rolls out the marketing campaign to reinforce the brand position of being ‘India’s Finest Yet’.

Both Magic Moments Dazzle and Royal Ranthambore will be available in select stores in Delhi, Karnataka, Uttar Pradesh, Goa, Maharashtra, Rajasthan and Haryana in the first phase of launch.

Commenting on the launch Mr. Amar Sinha, COO, Radico Khaitan said: “Every launch is an expression of the constant endeavour to provide our consumers with the exclusivity of experiences that are reserved for the discerning. We are delighted to announce the launch of our two most ambitious brands that we were working for the last three years.”

He also added, “In the pursuit to expand our product base in the premium whisky category, Radico Khaitan is all set to offer most luxurious Indian whisky by the name of Royal Ranthambore Heritage Collection-Royal Crafted Whisky. We are extremely optimistic about the fact that this brand will be a game changer in this space and will undisputedly be the most phenomenal trend setter. The country is going to get its finest ever in the weeks ahead.”

On the question on the thought behind expanding the Magic Moments portfolio Mr Sinha emphasised, “Vodka currently accounts for less than 5% of the domestic IMFL volumes compared to around 25-30% globally. With the favourable demographic profile and changing consumer preferences, we believe that Vodka industry is bound to expand. Over the last five years, premium vodka space has grown at a faster pace than the overall vodka industry which is a positive sign. Within vodka, flavours are gaining momentum. More than 50% of our vodka volumes is flavours. To expand the vodka category, we are doing a number of things including new flavours, new expressions and now an ultra-premium offering by the name of Magic Moments Dazzle Vodka.”

He concluded “There have been rapid strides in the development of the premium segment of spirits in India and we are aspiring to be the category leaders in these segments with this launch of Magic Moments Dazzle and Royal Ranthambore.”

Shares of Radico Khaitan Limited was last trading in BSE at Rs. 971.45 as compared to the previous close of Rs. 967.85. The total number of shares traded during the day was 44710 in over 2419 trades.

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The stock hit an intraday high of Rs. 984.00 and intraday low of 950.00. The net turnover during the day was Rs. 43124503.00.

Shares of Radico Khaitan Limited was last trading in NSE at Rs. 971.05 as compared to the previous close of Rs. 968.80. The total number of shares traded during the day was 605225 in over 24310 trades.

The stock hit an intraday high of Rs. 978.50 and intraday low of 949.80. The total traded value during the day was Rs. 584966151.80.

The above news was originally posted on www.equitybulls.com

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