Most ambitious decade in India for Bacardi

Ever since Bacardi has forayed into India with its exotic and unique range of whiskies, vodkas, tequilas and rums, the Indian consumers are having an additional opportunity to not only get the global brand at their doorstep but also be able to venture into exciting and spirited alcohol territories. On their part, the global and Indian Bacardi teams have put their heart and soul into understanding Indian tastes and flavours, in order to serve spirits that the Indians would like to celebrate each occasion with. In this exclusive interview, Vinay Golikeri, Managing Director, Bacardi India, tells Shalini Kumar how the company is elevating the whole experience and what has been the result of the spirit of experimentation.

In your tenure as the MD of Bacardi India for nearly one-and-a-half years, how would you describe your journey so far and what have been the most significant challenges and achievements during this period?

The past year and a half has been both exhilarating and insightful. With its vast and diverse consumer base, India’s dynamic market presents immense opportunities for innovation. Our brand portfolio is exceptionally diverse and well-positioned to capitalise on emerging consumer trends, reflecting the strength of our strategic planning. Our extensive engagements with customers and teams have only strengthened our belief in this potential. While navigating the diverse regulatory landscape across different regions can be challenging, our focus on sustained growth, innovation and agility has enabled us to transform these challenges into strategic opportunities. We are on track for what promises to be our most ambitious decade in India, driving growth while seizing the opportunities presented by this evolving market. Reflecting on my journey at Bacardi India, I can confidently say that our unique culture and values have been a cornerstone of our success. One of the greatest strengths of our organisation is the consistent power of our global cultural pillars— ‘fearless, family and founders.’ This shared ethos has unified us across divisions and regions and has also been instrumental in guiding our strategic direction and mindset, enabling us to seize omnichannel opportunities and drive growth in India and worldwide.

What are some of the key trends in the spirits industry and consumer spending that Bacardi India is focusing on, and adapting to these trends?

New-age Indian consumers are showcasing a preference for unique and premium experiences, rooted in experimentation. Today’s discerning consumers are increasingly appreciative of premium spirits, reflecting their desire for luxury. Explorative, curious, and driven by India’s diverse taste palates, they are also eager to experiment with a variety of spirit categories, brands and flavour profiles. Their openness to diverse options is priming market dynamics and encouraging innovation. Beyond spirits, there is a growing demand for culturally relevant and immersive experiences that inspire them to come together and celebrate unforgettable moments. We are at the forefront of industry trends, with strategic investments in innovations that seamlessly meet the evolving preferences of our consumers. Catering to their taste for premium, we have introduced the super-premium BACARDÍ RESERVA range and DEWAR’S’s Double - Double Scotch Whisky in the rapidly growing premium Indian market. Our introduction of unique flavours with offerings like BACARDÍ Ginger Rum and BACARDÍ Mango Chilli is capturing the attention of explorative appreciators in the country. Our first-ever Indian premium whisky crafted in India, LEGACY, is effectively catering to the ‘Make-in-India’ fervour. This is due to LEGACY’s precise focus on catering to the market with its distinctively Indian identity, flavour and overall storyline. Celebrating moments that matter, we are driving a host of experiences across brands such as BACARDÍ NH7 Weekender. Additionally, BOMBAY SAPPHIRE’S ‘Saw This Made This’ campaign is transforming iconic landmarks into living art with creativity akin to cocktail creation. Through these initiatives, we continue to inspire and engage with our consumers; fostering brand loyalty through memorable introductions to the market.

How is Bacardi leveraging the cocktail culture to enhance its brand presence and consumer offerings? Which of your brands have greater appeal for cocktail enthusiasts?

India’s cocktail culture has surged in recent years, driven by a confluence of factors, right from the rise in restaurants and bars coupled with increased disposable incomes to a pronounced penchant for experimentation. With two in five Indian consumers planning to drink more cocktails than wine (41 percent) or beer (42 percent) next year as per the Bacardi Cocktail Trends Report 2024, their appetite for new and exciting flavour discoveries is boosting the popularity of cocktails and driving the overall growth of India’s dynamic spirits industry. Bacardi has been at the forefront of this promising shift, delivering a suitable portfolio of high-quality, premium cocktail experiences tailored to the Indian palates. Our legacy of pioneering cocktail culture began in 1862, with BACARDÍ Rum. In India, we stand as the pioneers of whisky highball with DEWAR’S the world’s most awarded blended Scotch whisky. We have also championed the Espresso Martini, a sophisticated blend of rich coffee flavours with smooth Grey Goose Vodka that is catering to increasingly refined palates. Additionally, we are making waves with the Picante, a tequila[1]based cocktail featuring spicy-sour flavours.

India presents a significant opportunity for whisky brands, especially for single malts. How is your whisky portfolio performing in the domestic market? Which of Bacardi’s single malts or whiskies are performing better over the others?

As the leading global market for whisky, India’s vibrant community of enthusiasts for both Indian and Scotch whiskies highlight its immense potential. Recognising this, we are expanding our presence in the brown spirits category with DEWAR’S and LEGACY. With a global portfolio of over 200 brands, including award-winning single malts, we are well[1]positioned to introduce relevant whisky expressions to the Indian market. We have already introduced new brands to the country in the past five years. ROYAL BRACKLA, known as the ‘king’s own whisky’ and celebrated for its rich heritage as the first distillery to receive a royal warrant in 1833, caters to the premiumisation palates of Indian aficionados. This year, ROYAL BRACKLA 21 Years Old has achieved category winner and gold medal winner status at the World Whisky Awards 2024. Innovation is at the heart of our success, exemplified by our Master Blender, Stephanie Macleod, the winner of the World’s Best Master Blender award six times in a row. This affirms our commitment to delivering exceptional whisky experiences.

Tequila is gaining significant traction in India. How has been Patron performing in the Indian market, and what initiatives are taken to expand its consumer base?

PATRÓN has seen exceptional performance in India, capitalising on the growing trend towards premiumisation and overall category growth. In 2024, tequila emerged as one of the fastest-growing segments in India with sales nearly doubling over the past year. Aligned with these trends, PATRÓN has established itself as the leading brand in the super-premium segment. Its premium craftsmanship and high-quality ingredients resonate with the growing consumer demand for agave spirits, particularly in major cities like Delhi, Mumbai, Goa and Bengaluru. Building on this momentum, we are deepening our cultural connection with Indian consumers. We leverage significant cultural moments like World Margarita Day and Tequila Month to engage with our audiences, with initiatives crafted to resonate with local traditions and preferences. Our hero serve, Picante, has been immensely successful in showcasing PATRÓN’S versatility with its spicy and sour notes, tailored for the Indian flavour palate. Additionally, our pipeline of strategic collaborations and special events continues to bring alive moments that matter for Indian consumers.

How is Bacardi utilising technology and social media to enhance consumer engagement and drive brand loyalty in the Indian market?

In today’s digital age, staying connected with consumers where they are most active is crucial for driving engagement and building brand loyalty. By harnessing the power of technology and social media, we capture emerging consumer trends and create moments that matter by bringing our brand extensions to life in memorable ways. A prime example is our innovative range of DEWAR’S Mixers crafted in collaboration with Jimmy’s Cocktails, which is connecting with key influencers and sparking conversations on the social media to generate significant buzz and engagement.

At a time when niche and craft beverages are gaining popularity, where does Bacardi stand, and how are you catering to this growing segment?

How are Bacardi’s product innovations reflecting the changing preferences of Indian consumers? We are closely monitoring the growth of the niche and craft beverage movement, consistently introducing innovations that reflect the evolving preferences of Indian consumers. With 57 percent consumers seeking fruit-flavoured offerings, we have introduced flavours like BACARDÍ Mango Chilli and BREEZER Mango Peach. We are accelerating our premium presence in whisky with DEWAR’S This includes DEWAR’S Double – Double 36-Year-Old, retailing at Rs 4,50,000, which is finely attuned to the increasing demand for premium spirits.

What are your strategic priorities and plans for Bacardi India over the next few years? 

As we push the pedal on the most ambitious decade yet for Bacardi in India, we are investing across three big pillars that define our strategic priorities. We are expanding our footprint in the super-premium tequila category with brands like PATRÓN, responding to the rising demand for high[1]quality spirits. Additionally, we are accelerating our presence in whisky with DEWAR’S and with the pan[1]India expansion of LEGACY. With India being the world’s largest consumer of rum, the company continues to dominate the rum segment with its India and global leadership in the international rum category. We plan on investing heavily in our BACARDÍ aged rums, which are establishing a new tier for unique and elevated drinking experiences. These strategic initiatives in premium leadership across whisky, tequila and rum position us to optimally capture the India opportunity, solidifying our reputation as the world’s leading premium spirits house that continues to bring people together with exceptional experiences globally.

How is Bacardi India aligning with the parent company’s global vision and strategies, and what unique contributions the Indian market is bringing to the table?

Poised as the world’s fifth-largest alcohol market estimated to grow at 6 percent CAGR, India is a key market of Bacardi’s global growth strategy. In fact, with our business growing at an accelerated pace led by double-digit growth in emerging markets including India, and it is increasingly instrumental in shaping our ambitions globally. Building on our esteemed 161-year global legacy, we have been dedicated to enhancing consumer experiences through consistency, consumer[1]centricity, and operational excellence for 25 years, in the country. Our efforts have yielded significant milestones. Our ambitious goal is to achieve six-fold growth in India, by 2030.