Bacardi, recognized as the largest privately owned spirits company globally, is making substantial investments in India, viewing it as a crucial market for growth. Renowned for its rum, the Bermuda-based corporation has a varied portfolio that includes prestigious brands such as Grey Goose vodka, Bombay Sapphire gin, Patron tequila, and whiskies like Aberfeldy, Aultmore, and Dewar’s. The company made its entry into the Indian market with its rums in 1998 and expanded its whisky range around 2015 by introducing entry-level Scotch brands like William Lawson and Dewar’s. In the past three years, Bacardi's rum segment has experienced remarkable growth. Recently, the company introduced a small-batch Irish whiskey from Teeling, based in Dublin, and launched Legacy, its inaugural ‘made-in-India’ whisky, on a national scale. Bacardi collaborates with various contractors across India and operates more than ten production facilities. In an interview with the Hindustan Times, Vinay Golikeri, the managing director of Bacardi India, elaborates on how the cocktail culture is enhancing rum sales, the increasing interest in super-premium tequilas, and the pivotal role of whisky in the company’s growth strategy in India.

Bacardi has demonstrated strong performance in India, with reports indicating a 26% compound annual growth rate (CAGR) over the last three years. What factors are contributing to this growth?

Our rums have been performing exceptionally well, largely due to the thriving Indian market. The number of affluent households is projected to more than double to over 170 million within the next five years, and approximately 20 million consumers reach the legal drinking age each year. The spirits market in India is expanding significantly faster than the global average—while the global CAGR for premium spirits from 2020 to 2023 was around 8%, India’s rate is nearly 39%. The retail landscape has evolved, with Indian bars frequently appearing in Asia’s Top 50 lists. In terms of volume, India ranks as our second-largest market for rums and is among the fastest-growing. Our recent product launches, such as Bacardi Ginger and Mango Chilli, specifically designed to cater to Indian tastes, have also significantly contributed to this success.

What is your perspective on the recent surge of rum launches in India over the past few years?

There is certainly a noticeable trend towards consumers opting for higher-quality beverages while reducing overall consumption. This is evident in our dark rum offerings as well. Our premium Bacardi Reserva range is already available in India, and this year, we are planning to introduce the super-premium Santa Teresa from Venezuela. We are convinced that India is experiencing a cocktail revolution; a comparison of the number of cocktail bars from 2018 to the present clearly illustrates this shift. Recently, I visited a bar named Terra Mayaa in Guwahati, where the creativity displayed on their menu was remarkable. With Bacardi Cuatro, Ocho, and Diez, our focus is on high-end bars and promoting advocacy.

You have also broadened your involvement in the whisky sector, and there has been considerable movement from Bacardi, particularly in the past six months. How soon can we expect an Indian single malt to be included in your strategy?

Whisky is poised to be a significant growth catalyst for Bacardi in India. Our latest introduction was in the Irish whiskey segment with Teeling. Established in 2015, Teeling is recognized as the first new distillery in Dublin in over 125 years and has garnered attention for its artisanal Irish whiskeys. The Teeling Small Batch Classic is a recent innovation specifically designed for the Indian market, developed in collaboration with Teeling to create a flavor profile that appeals to Indian consumers. The Irish whiskey category is experiencing notable expansion, ranking as the second-largest whisky category after Scotch, with India being one of its top ten markets. The trend of young, legal-age consumers exploring new options has significantly benefited this category. Additionally, we launched Legacy nationally late last year, which is a blend of Scotch malt, Indian malt, and Indian grain whiskies, marking our entry into the Indian Made Foreign Liquor (IMFL) segment. In the Scotch category, Dewar’s remains a primary focus for us, and we are intensifying our efforts on Dewar’s 12- and 15-year-old variants. Furthermore, we have introduced a 36-year-old expression from the Dewar’s Double Double series, priced at approximately ₹4.5 lakh in Mumbai. We are also promoting our single malts, Aberfeldy and Royal Brackla, in India. Regarding an Indian single malt, there has been considerable activity in this area recently, and we are monitoring developments closely.

Affluent Indians have developed a growing interest in tequila, prompting Bacardi to recently introduce its Patron range in the country. What is the size of the potential market?

Currently, tequila constitutes a relatively small percentage of the overall spirits market. Although it is not yet a substantial segment, the growth trajectory has been remarkable. Within the tequila category, sales in the premium segment and above have shown particularly promising results, especially in the ₹20,000 price range. We launched the Patron El Cielo (priced at ₹23,500 in Mumbai) late last year, and it has already sold out. We are now preparing to introduce El Alto. However, it is important to remember that India is predominantly a whisky market, and premium whisky remains one of our core strengths. Bacardi's commitment to India as a crucial market has been instrumental; we have increased our manufacturing investments in the country by over 60% since 2020. India is an essential market for our global strategy.

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