NeuWorld Spirits, a Delhi-based alco-bev start up, which has made an ambitious foray into the IMFL market by rolling out a a premium whisky (Downing Street) and a semi premium
whisky (Royal Tribe) in the New Year has its eyes set to make a mark by rolling out more premium products to become one of the top 10 Indian spirits company.
In the coming months, the company has plans to add new premium products into the portfolio.
“We will be launching a premium vodka brand in April which will be available in three flavours, besides the neutral variant. It will be an outstanding product in terms of its quality, flavour quotient and packaging,” said Chandel in an exclusive interaction.
She said that with the launch of the premium vodka, they will be targeting the ‘A’ segment hotels and fine dining restaurants. “We want to make it a pouring brand in ‘A’ category hotels and restaurants and an aspirational brand in the ‘B’ category restaurants,” she said. Later in 2023, NeuWorld will be rolling out a premium brandy brand and
a craft gin brand, she said.
Chandel said that the focus is to source the right quality ingredients and create world class blends and present it in attractive packaging. “Instead of investing in fixed assets, our focus would be to invest in branding and marketing initially,” she said. “There is abundant manufacturing capacity available in the country, we need not to invest in fixed assets,” she added.
While the Bottled In Origin (BIO) brands ruled the roost when it comes to blended whiskeys and single malts for decades, the made in India brands are fast catching up with more serious players entering the industry, feels Chandel.
“We have excellent facilities to make good quality scotch and single malts today. A lot of new players are playing a key role in bringing out quality products to take head on the BIOs. Earlier, there was lack of confidence among the Indian manufacturers in terms of pricing it and marketing well. Today, the scenario has changed. Some of the Indian single malts are getting a great amount of acceptance in international markets like the UK, USA, etc. Consumers are also more inquisitive about Indian brands today,” she said.
Although a lot of new players have entered the alco-bev market in the last few years, Chandel, a seasoned brand marketer and strategist in the industry who played key role in making brands like Officer’s Choice, 8PM, Old Tavern, Cobra beer, etc. household names in India, feels that the market will ultimately consolidate to 10 to 15 national players.
“There is a huge opportunity in the liquor business and a lot of the new players are entering the market to capitalise on that opportunity. However, a large chunk of them are
regional players with no vision to make it big on a panIndia level. The consumers have, of course, a wide choice available. But many of these products are not of very high quality,” she said.
NeuWorld strategy, therefore, she said, is to bring out quality products in the premium and semi-premiumcategory and convert them into brands to reckon with in that category through targeted branding and marketing.
“The initial focus is to get maximum trials of these brands in the market. We are distributing a lot of miniature bottles so that trials and tasting happens a lot,” she said.
NeuWorld Spirits is looking to touch INR 100 crore turnover by the end of FY24 garnering 5 per cent market share in the segments it is present. By FY24, the company would cover most of the north, and east markets and selected markets in the south and west