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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.

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