New Delhi: Diageo’s Indian subsidiary United Spirits Ltd. (USL) has agreed to acquire a 10.08% stake in Nuvola Spirits Pvt. Ltd., a New Delhi-based startup known for producing India’s ‘first’ limoncello and Korean-style soju. The investment marks another strategic move by United Spirits to strengthen its presence in emerging premium and globally inspired alcoholic beverage categories in India.
Founded in August 2023 by Raghav Sachdeva and Aakriti Sachdeva, Nuvola Spirits was created to cater to the growing demand for internationally inspired spirits and liqueurs among Indian consumers.
Nuvola Spirits portfolio includes limoncello, soju and Italian-style liqueurs
Nuvola Spirits has built a niche premium portfolio featuring:
→ Allied Blenders Approves ₹125 Crore for 3 Million BL Malt Distillery in Aurangabad→ West Bengal Declares Maha Ashtami 2026 as Dry Day for Durga Puja
- Mikiamo Limoncello – positioned as India’s first limoncello
- Seoulmate – a Korean-style soju
- Meloncello – an Italian-inspired melon liqueur
- Amaro Rosso – an Italian-style bitter liqueur
The company focuses on introducing Mediterranean and East Asian flavour profiles to India’s evolving premium alco-beverage market.
United Spirits invests ₹2.69 crore for 10.08% stake
According to the agreement signed on 22 July, United Spirits will acquire a 10.08% equity stake in Nuvola Spirits for ₹2.69 crore (approximately US$280,000), following approval from the USL board.
The transaction highlights United Spirits’ strategy of investing in high-growth premium startups and innovative beverage brands that appeal to younger urban consumers seeking new drinking experiences beyond traditional whisky, rum and vodka categories.
Nuvola Spirits reports sharp revenue growth
Nuvola Spirits currently generates 100% of its revenue from the Indian market. The company’s unaudited FY2025-26 revenue reached ₹3.5 crore, compared with ₹0.38 crore in the previous financial year, reflecting rapid early-stage growth in the premium liqueur and soju segment.
United Spirits continues premiumisation push
The investment comes shortly after United Spirits reported a 51.6% increase in unaudited first-quarter earnings, driven by double-digit growth in its Prestige & Above portfolio, which includes premium and super-premium spirits.
Industry analysts view the Nuvola investment as part of Diageo India’s broader focus on premiumisation, innovation-led growth and participation in emerging beverage categories such as craft spirits, agave-based products, alcohol-free alternatives and international liqueurs.
Series of strategic investments by United Spirits
Over the past year, United Spirits has made several notable investments and portfolio moves:
- January 2026: Increased its stake in the parent company of alcohol-free spirits brand Sober Spirits.
- Mid-2025: Acquired a majority controlling stake in Goa-based craft gin producer Nao Spirits for approximately ₹130 crore.
- April 2024: Purchased a minority stake in Maya Pistola, an Indian agave spirit producer.
These investments reflect USL’s intent to expand beyond its traditional core spirits portfolio into craft, premium, low-alcohol and emerging international-style beverage segments.
Strategic restructuring and manufacturing consolidation
Alongside its investment activity, United Spirits has also been restructuring parts of its business. In March 2026, the company completed the sale of its Indian Premier League cricket franchise business to a consortium for ₹16,660 crore following a strategic review.
The company has additionally undertaken manufacturing rationalisation measures, including the closure of two production facilities in Hyderabad, after an earlier plant shutdown in Uttar Pradesh in 2023.
India’s premium liqueur and soju market gains momentum
The partnership between United Spirits and Nuvola Spirits underscores the increasing attractiveness of premium liqueurs, limoncello, amaro-style beverages and Korean soju in India’s urban alco-beverage market.
With rising consumer interest in cocktail culture, imported flavour experiences, lower-alcohol social drinks and globally inspired premium beverages, the investment positions United Spirits to participate in some of the fastest-growing experimental categories within India’s evolving alcoholic beverage industry.
About the Author
