India has had a long, colourful, and mixed history with Liquor over the centuries, with ancient fermented drinks and traditional liquors like feni and toddy. India today, holds the third-largest market for alcoholic beverages globally, which is remarkable given the challenging business environment of red tape-ism, varying excise duties across states and much more.
In episode #18 of “WTF is” Podcast, we have Founders of different sectors in the Liquor Industry of India. Abhishek Khaitan, MD of Radico Khaitan, One of the oldest and largest manufacturers of Indian Made Foreign Liquor (IMFL) in India; Minakshi Singh, Co-founder of SideCar, India’s only entry in the top 100 of the World’s Best Bars; Shuchir Suri, Co founder of Gin Explorer’s Club, India’s biggest gin festival with a footfall of over 100,000 people per edition; and Suraj Shenai, Founder of Goa Brewing Co, crafting ‘non-conformist, modern’ beers that challenge the traditional dominance of German and Belgian flavours.
If Euphemism for patriotism is outrightly sold to people, across the world in different pockets, can the same brand-building tactics work for Indian Products too?
For additional insight into this industry, here’s a link to explore some of the resources provided by the guests of this episode
nksqr.notion.site/Additional-...
#NikhilKamath Co-founder of Zerodha, True Beacon and Gruhas
Host #wtfiswithnikhilkamath #wtfispodcast
Twitter: / nikhilkamathcio
LinkedIn: / nikhilkamathcio
Instagram: / nikhilkamathcio
Facebook: / nikhilkamathcio
#AbhishekKhaitan MD of Radico Khaitan
Twitter - x.com/radicokhaitan
LinkedIN - / abhishek-khaitan-95098bb4
Instagram - / abhishek40
Facebook - / abhishek.khaitan.12
#MinakshiSingh Founder of SideCar, Cocktails & Dreams
Instagram - / min.drinks
#ShuchirSuri Founder of Jade Forest, Anthem, Gin Explorers Club
LinkedIN - / shuchir-suri-058251b
Instagram - / shuchirsuri
Facebook - / shuchir
#SurajShenai Founder of Goa Brewing Company
Twitter - x.com/goabrewingco
LinkedIN - / surajshenai
Instagram - / surajshenai
00:00:00 - Intro
00:01:30 - Minakshi’s Intro: Part Time Job turned Full time Passion
00:06:00 - Change of course: Bartender turned Marketer
00:08:08 - Big break: Joining World’s biggest Liquor companies
00:08:40 - Building her own bar - Cocktails & Dreams
00:11:53 - Elements of a bar experience | SideCar #1 Bar in India
00:14:32 - Suraj’s Intro: Growing up in Goa
00:16:38 - Learning the ropes | Understanding India’s drinking culture
00:20:00 - Story of the beginning of Goa Brewing Co
00:21:40 - What is Indian Pale Ale? | Hops
00:25:20 - Obsession to start something new | Premiumising Quality
00:32:38 - Shuchir’s Intro: Love for Hosting Events
00:34:00 - Starting a company at 18: Early success to Downfall
00:37:00 - Joining a company | Understanding how companies work
00:38:35 - Starting the Gin Explorers Club, Food Talk India, Anthem, Jade Forest
00:42:10 - Abhishek’s Intro | Innate Passion for Liquor
00:45:10 - Joining Family Business | Overcoming Failures, Observing Trends
00:54:00 - Promoting Indian Craftsmanship Globally
00:58:50 - Objective of this podcast
00:59:34 - Size of the Liquor Industry in India | Psychology of consumption
01:06:32 - Alcohol: Is it good/ bad for you?
01:09:15 - Market Share and Revenue in India
01:10:47 - Steps to Start a Liquor brand | Primary, Secondary, Tertiary Steps
01:26:00 - Opportunities in the Current Trends | Category, Product, Price
01:54:26 - Food Break
01:55:05 - Distribution | Hacks, Storytelling, Picking a Niche
02:12:20 - Marketing Budgets in different states in India
02:15:20 - Revenue Generation Tax in states through liquor
02:17:30 - Nikhil on Long term Investment in Liquor Companies In India
02:24:32 - Celebrity Led Liquor Brands: Do they work?
02:31:46 - Are Social Media Influencers effective in Advertising?
02:35:35 - Is it possible to discern between Good V/s Premium?
02:40:40 - Is Patriotism a good backstory for a product?
02:44:35 - Is Hangover equally proportionate to % of Alcohol?
02:50:05 - Potential of Pre-ready Beverages, Wine store, Online Delivery
03:00:40 - Indian Brands vs International Brands wrt Import Tax
03:02:55 - Registration of Liquor Brands | Excise Duty, Licenses, Challenges
03:10:57 - WTFund
Disclaimer:
Alcohol consumption is injurious to health. No participants in this video promote alcohol consumption and strongly discourage underage, binge, and careless drinking. All panelists in this show express their own personal views, which do not necessarily reflect the views of the producers or promoters. Please drink responsibly.
6 июл 2024
