New Document top_band
 
Business Standard

Sula Vineyards sets sight on tier-II cities

Related News

Nashik-based Sula Vineyards, a leading premium in the country, is looking to set up wine bars across the country. Moreover, the firm is planning to expand its presence in tier II cities too.

“We have already done some diversification too into hospitality sector by setting up a 25-rrom hotel. Now, our plan is to set up wine bars in different cities across the country. The first ones would be in Goa and Mumbai, with an investment of about Rs 50 Lakh to Rs 1 crore,” said Rajeev Suresh Samant, Founder and chief executive officer of Sula Vineyards.

According to reports, the firm had diversified into hospitality by setting up a resort near Gangapur dam near Nasik. He added that the firm’s focus would now be to increase presence in tier II and tier III cities like Siliguri and Durgapur by setting up stores. The firm claims to own more than 70 per cent of the Indian wine market share.

“Today, if you say from the Rs 150 to Rs 1,100 range we are the market leaders. I think that has payed well for us and we would like to have something in every price range,” Samant said. The firm expects to sell 5 million bottles this financial year, compared to 4 million bottles during the last fiscal.

“We have about 25 brands in our portfolio and have about 20 international brands. Rather than increasing the number of brands or the marketshare, we would like to focus on expanding the Indian wine market,” he added. The firm has vineyards in Nasik and Northern Karnataka. While Maharashtra contributes 30 per cent of Sula’s marketshare, Karnataka and Delhi owns 10 per cent each. Sula has presence in 15 countries - including Germany, the United States, the United Kingdom and Japan. “Our overseas sales contribute only 5 per cent of our total sales and we are not looking to expand it too much as the Indian market itself is so much un explored,” he said.

He added that though the firm is growing at more than 40 per cent year-on-year. The main concern for the industry as a whole is climate change. Sula also plan to go out to rural areas and do tastings and education on wine.

Read more on:   
|
|

Read More

BHEL, GAIL get Maharatna status

The government today said it has granted Maharatna status to Bharat Heavy Electricals Ltd and Gas Authority of India Ltd.

Quick Links

Advertisement

Back to Top