HospitalityBiz India
Hotels FoodService Operations Ministry Associations Equipment Editorial HR Technology Technology Advisory Board Community
Follow us on Facebook Follow us on Twitter instagram
    Home > NewsTrack
NEWSTRACK

Monika Enterprises aims at targeting 70% Tequila market share in India within the next 3 years

Tuesday, March 16, 2021, 10:00 Hrs  [IST]
HBI Staff | Hyderabad

Monika Enterprise, born in 2008, was started by Bhimji Nanji Patel with the vision to import foreign liquor into the country. In the past five years, the family-run company has trampolined to a strength of 150 employees and has become one of the biggest representative and importer of foreign spirits in India with a turnover of INR 500 Cr. Currently, the company is being steered by Kunal Patel, son of Bhimji Patel, who with his fresh ideas, has helped in diversifying the company by branching out into different verticals like BIO products, ready-to-drink products, logistics and beverage technology. With Kunal at the helm, he concentrated on expanding the domestic alcohol market; the company went from only 2 brands in 2017 to 42 brands of spirit and wine in a short span of 3 years. In the year 2019- 2020, the market share of the multi-million dollar business has grown by 70-80% and its BIO business saw a boom of 300% in revenue. The company has managed to maintain and grow its business after Covid-19 at a steady rate of 25% quarter-on quarter.

Today, their portfolio pours 120 labels from 42 spirit and wine brands which includes category leaders like Belenkaya Vodka, Russian Standard Vodka, Jose Cuervo Tequila, Kraken Rum, Ron Diplomatico, Bushmills Irish Whiskey. The company made headlines when they bagged the distribution rights for selections from the diverse spirit portfolios of Roust, Ron Diplomatico and Proximo Spirits.

The Company is now looking to tap around 70% market share of the Tequila market in India within the next 3 years with its flagship offering, Jose Cuervo. Jose Cuervo is regarded as the world's no. 1 Tequila brand and it is the very first tequila to be legally produced almost two centuries ago in the Mexican town named 'Tequila'. Being the world's highest selling Tequila, Jose Cuervo's appeal over the world is unparalleled and Monika Enterprise wants to replicate that success in India.
“Keeping quality in product and service as our core focus, we have built a portfolio we are proud of. We believe in bringing the best there is on offer for the Indian Audience. We have extensive plans which would help us pivot to the next stage thereby ensuring increased consumption of our portfolio brands.” Kunal says.
Monika Enterprise has set for itself an ambitious goal of generating 800 Cr of revenue by 2024 and by looking to tap the lion's share in the Tequila segment is only going to fuel that goal.


 
Print News Email News Back
Bookmark to Add to NewsvineNewsvine Bookmark with del.icio.usdel.icio.us Digg ItDigg
Add RSS to Add to Google Add to My Yahoo! Subscribe with Bloglines Subscribe
 POST A COMMENT
* Name :    
* Email :    
* Message :  
   
RELATED NEWS
»  Kempinski Hotels Extends its footprint in North American Market through Takeover of Luxurious Beach Hotel in Cancun, Mexico
»  ITC Kohenur Celebrates 75 Years Of Independence
»  Crowne Plaza Chennai Adyar Park to host India’s biggest pageant for men – Rubaru Mr. India in October
»  Ironhill India plans to open beer manufacturing plant by 2023 end
»  Mallcom India Launches Safety Shoes for the Hospitality Sector
»  The Coffee Board of India in association with SCAI & the United Coffee Association of India organises The National Barista Championship
»  ‘Thailand tourism market is seeing very strong inbound traffic from India at present’: Lee Richards, Swiss-Belhotel International
»  McDonald's India North & East embarks on Restaurant Modernization
»  Hyderabad based QSR chain Zomoz scaling aggressively to capture the momo market
»  “Our new integration to G3 RMS takes hotel revenue optimization to the next level" : Carsten Wernet, Chief Executive, SIHOT
»  India emerges as the global leader in travel in 2022 as per TLN survey
»  The Unbound Collection by Hyatt Brand to Debut in India with Plans for Noor-Us-Sabah Palace in Bhopal
»  Hotelivate to host the 9th Edition of Hotel Operations Summit – India (HOSI)
»  Rester Hotels and Resorts to expand its presence in India
»  The Knot Worldwide to Expand its India team by 30%; Opens a New 6000 Square Foot Office in Gurugram
»  ‘We can bring a revolution in the alternative meats category in India': Sairaj Dhond, Founder of Wakao Foods
»  Marriott International appoints Shivam Juneja as the Market Director of Revenue Strategy - MP & UP Cluster
»  The Sattvik Council of India Collaborates with The Art of Living for Youth and Faculty Empowerment
»  Lexicon Institute of Hotel Management ranked 2nd in India as the Institution with Potential for Excellence
»  The Rise of Experiential Tourism in India
 
CoverStory
Analysis
 
  The Indian Institute of Architects (IIA) Natcon 2020 virtual event concludes successfully
  Winners of The Park Elle Décor Student Contest felicitated at Indian Design ID 2020
 
weekly
Receive the best of Hospitality content in your mailbox.
Weekly e-Newsletter
Events Calendar




Events
 
 
people
interview
newappoint
expert
© Copyright 2016 Saffron Synergies Pvt Ltd
HOME   |   ABOUT US   |   CONTACT US   |   FEEDBACK   |   DISCLAIMER   |   SITE MAP   |   ARCHIVES