A company with a unique roster of high-end labels, 38-year-old family business Monika Alcobev showed her presence at the recent ProWine event in Mumbai and ET HospitalityWorld caught up with Kunal Patel, the farm’s young general manager about his perception of the market he was addressing. This is an excerpt from the interaction.
“The premium liquor industry is growing and I think it will continue to do so. I always say he has a ticking time bomb, which is about to explode. I think we’ll see a huge leap in the premium alcobev industry over the next three to five years,” Patel said.
Patel said they were not only involved in high-end brands from outside India, but also opened up opportunities for high-end Indian brands, as they supplied airports outside taxes and had a presence in neighborhood markets like Nepal, Maldives and Sri Lanka, where they ensure more than half a dozen premium Indian brands with products ranging from gins to whiskeys are pushed.
Speaking about his perception of catering and its trends, Patel felt that social drinking and responsible drinking were starting to take hold: people were drinking less but spending more and opting for more premium spirits. The number of people who drank every day to get a good night’s sleep is decreasing, and the number of those who had a drink just to meet their friends during our weekend was on the rise.
The restaurant market was back and how, Patel opined, “it was really bad in 2020 and 21 because of the lockdowns, but I think (at least from a premium brands perspective) they bounced back and grown as far as I can see in my books.”
It was also in retail that consumption of premium and ultra-premium brands was highest as customers could try a small amount of a more expensive product.
The premiumization of the industry is no longer just limited to metro markets, he said.
“We did not expect the volumes we are achieving in Jharkhand for example. There are many markets in India that people did not consider a prospect, but the Indian market is very diverse. There are different consumers everywhere and you can find a customer in the most remote part of the country,” Patel said, adding that the only thing to consider was whether it was worth transporting the product to this point. .