In high spirits
Radico Khaitan prepares to launch its vodka brand - Magic
Moments, in the next quarter. Abhishek Khaitan gets into
the specifics of this new venture
When it comes to alcoholic
beverages, Radico Khaitan needs
no introduction! A highly
acclaimed beverage company known for its
premium liquor brands, it is all set to add
another feather to its cap. In the next quarter,
Radico would launch its vodka brand - Magic
Moments - in the domestic and international
beverage markets.
Product inception
The vodka segment in India is growing at the
rate of 35 per cent. Even though the volume
is small, there has been a steady upswing in
the same. At Radico, we want to be present in
each and every segment of the liquor industry.
This business objective, together with 'White
Spirits' as the company's focus area for the
year 2005-06, has initiated its foray into the
vodka segment.
Market research and target
consumers
As far as market research goes, a complete
consumer profiling and concept research has
been done for Magic Moments vodka. On the
basis of the findings of this research, the brand
understanding has been taken forward. The
new product would be targeted at Sec A and
B and the 18 and above consumer age group.
The new vodka brand will be manufactured at
the company owned distillery in Rampur.
Moreover, the bottling of the brand will be
done at Radico's 24 strategic bottling units
that are spread across the country.
Marketing and promotion
Marketing would play a significant role in the
launch of the new brand. As such, it would be
first test marketed in certain markets and then
would be taken across nationally. In addition,
the Magic Moments brand would be
supported by several promotional activities in
clubs, pubs and other such leisure joints.
Recent developments and
growth plans
Radico Khaitan had recently made another
development in its products profile. It has
vertically expanded two of its flagship brands,
namely 8PM Whisky and Contessa Rum.
Then comes the expansion route, which the
company is eager to take on. Our company
has an expansion plan whereon an
investment of Rs 85 crore has been marked
for the next two years to acquire/buy a
distillery in South or in West and to buy 5-6
bottling units. Similarly, we are also
considering acquisition of some brands. Fund
raising for all these acquisitions would be
done through internal accruals.
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