In a conversation with Hospitality Bizz India, Kunal Patel, the Managing Director of Monika Alcobev Ltd, delves into the dynamic landscape of the Indian Alcobev industry, showcasing the company’s impressive journey over the past five years and its strategic approach to capturing the evolving market.

Q. Unveiling Monika Alcobev’s Exponential Growth

Discussing the company’s trajectory, Patel shares, “Our sales have witnessed an extraordinary 120% Compound Annual Growth Rate (CAGR) over the last five years, positioning us as the leading supplier of premium wines and spirits in the country. Notably, our expansion in the tequila segment has been phenomenal, making us the largest suppliers in India. From a modest portfolio of 2 brands in 2018, we now boast 92 brands in 2023, covering the spectrum from premium to high-end ultra-luxury, ensuring #Onlythebest quality for our consumers.”

Q. India’s Role in the Global Alcoholic Beverage Landscape

When asked about India’s standing as a key market for alcohol consumption compared to other Asian countries, Patel emphasizes, “The Indian alcoholic beverage industry is set to surge to USD 64 billion in the next five years, propelled by factors such as rising incomes, urbanization, and a younger consumer base. Currently contributing 2% to India’s nominal GDP, this industry supports over 8 million jobs across various sectors. With favorable government policies and evolving demographics, India is poised to become the fifth-largest contributor to global market revenues in the near term.”

Q. Crafting Long-Term B2B Relationships

Addressing Monika Alcobev’s B2B strategy, Patel states, “Our approach is centered on fostering enduring relationships with key professionals in the Alcobev sector. Recognizing the unique demands of each B2B partner, our dedicated teams collaborate closely to provide tailored solutions. Regular engagement in industry events, comprehensive product information, tastings, and staff training are part of our proactive efforts. We aim to be a trusted and collaborative partner, offering a competitive edge in the Alcobev industry.”

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Q. Unleashing the Potential of Tequila Among Younger Travellers

Highlighting the evolving preferences of younger consumers, Patel identifies tequila as a segment with immense growth potential. “Tequila is gaining popularity among younger Indian travellers due to its unique flavors, adaptability in mixed drinks, and association with artisanal craftsmanship. The health-conscious demographic is drawn to tequila’s zero carbs, zero sugar, and lower calorie content. As mixology and cocktail culture thrive, tequila emerges as a promising growth area, captivating India’s younger travellers with its rich legacy and high-quality options.”

Q. Revenue Growth and Expansion Plans for 2022-2025

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Providing insights into Monika Alcobev’s recent performance and future plans, Patel reveals, “In FY2023, we achieved a remarkable 70% YoY sales growth, expanding our presence to 18 states, covering over 90% of the premium spirits market in India. Looking ahead, our focus is on deepening our reach by expanding to more outlets and reaching a greater number of doorsteps. Additionally, plans for factory setup and new product launches are on the horizon, marking the next phase of our strategic expansion.”

This interview, featured exclusively on Hospitality Biz India, reflects Monika Alcobev Ltd’s commitment to excellence, adaptability to changing market dynamics, and a forward-looking approach to sustaining growth in India’s dynamic Alcobev landscape.