Whisky will be a key growth driver for us: Bacardi India’s Vinay Golikeri
Bacardi, the world’s largest privately held spirits company, is betting big on India as a key growth market. Known globally as a rum powerhouse, the Bermuda-headquartered giant boasts a diverse portfolio of prestige brands, including Grey Goose vodka, Bombay Sapphire gin, Patron tequila, and whiskies like Aberfeldy, Aultmore, and Dewar’s. Bacardi entered India with its rums in 1998 and expanded its whisky offerings around 2015 with entry-level Scotch William Lawson and Dewar’s. Over the last three years, its rum business has seen significant growth. More recently, it launched a small-batch Irish whiskey from Dublin-based Teeling and rolled out Legacy, its first ‘made-in-India’ whisky, nationwide. The company collaborates with multiple contractors in India and has over ten plants. In this interview with the Hindustan Times, Vinay Golikeri, Bacardi India’s managing director, discusses how cocktail culture is driving rum sales, the rising demand for super-premium tequilas, and why whisky remains central to its growth plans in India.
Bacardi has been performing well in India. Reports show a 26% CAGR over the past three years. What’s driving this growth?
Our rums have been doing exceptionally well, and the buoyant Indian market has a lot to do with it. The number of affluent households is expected to more than double to over 170 million in the next five years, and every year, around 20 million consumers reach legal drinking age. Spirits in India are growing well ahead of the global average—globally, the CAGR for premium spirits from 2020 to 2023 was about 8%, while in India, it’s nearly 39%. The retail environment has transformed, and Indian bars are now regulars in Asia’s Top 50 lists. From a volume perspective, India is our second-largest market for rums and one of the fastest-growing. Our recent launches like Bacardi Ginger and Mango Chilli, which have been tailored to the Indian palate, have also played a big role.
What do you make of the spate of rum launches in India over the last couple of years?
There’s definitely a trend of people drinking less but drinking better, and we’re seeing that with our dark rums too. Our premium Bacardi Reserva range is already in India, and this year, we’re working on bringing the super-premium Santa Teresa from Venezuela. We believe India is going through a cocktail revolution—just compare the number of cocktail bars in 2018 to now, and you’ll see what I mean. The other day, I was in Guwahati at a bar called Terra Mayaa, and the innovation on their menu was amazing. With Bacardi Cuatro, Ocho, and Diez, we’re focusing on top-end bars and advocacy.
You have also expanded your play in the whisky segment, and there’s been quite a bit of activity from Bacardi, especially over the last six months. How long before an Indian single malt features in your plans?
Whisky is going to be a big growth driver for Bacardi in India. Our most recent launch was in the Irish whiskey category with Teeling. Teeling started operations in 2015 as the first new distillery in Dublin in over 125 years and has gained attention for its small-batch Irish whiskeys. The Teeling Small Batch Classic is another innovation tailored for India—we worked with Teeling to develop a liquid and taste profile suited to the Indian consumer. Irish whiskey is seeing significant growth. It’s the second-largest whisky category after Scotch, and India is among its top ten markets. The fact that young, legal-age drinkers are in discovery mode has really helped the category. Then there’s Legacy, which we rolled out nationally late last year. It’s a blend of Scotch malt, Indian malt, and Indian grain whiskies and it marks our entry into the IMFL segment. In Scotch, Dewar’s is a key focus for us. We’re doubling down on Dewar’s with its 12- and 15-year-old expressions. In fact, we’ve also launched a 36-year-old from the Dewar’s Double Double series, which retails for about ₹4.5 lakh in Mumbai. We’re also driving our single malts, Aberfeldy and Royal Brackla, in India. As for an Indian single malt, there’s been a lot of activity in this space lately, and we’re watching it closely.
Affluent Indians have taken a liking to tequila, and Bacardi recently launched its Patron range here. How big is the potential market?
Look, tequila as a percentage of total spirits is still small. It’s not a big base yet, but the growth has been phenomenal. Even within tequila, sales in the prestige and above range have been very encouraging. There’s a lot of traction in the ₹20,000 price bracket. We introduced the Patron El Cielo ( ₹23,500; Mumbai) late last year, and it has already sold out. Now, we’re rolling out El Alto. But let’s not forget, India is whisky country, and premium whisky is one of our strengths. What’s really helped is Bacardi doubling down on India as a key market. We’ve increased our manufacturing investments here by over 60% since 2020. India is a must-win market for us globally.
