INDIA: Khoday India bullish on expansion
Khoday India Limited (KIL) is on an aggressive expansion drive with plans to launch a raft of new liquor brands, investing over US$250m over the next two years.
At the launch of blended malt whisky 'Red Knight' in the southern city of Bangalore last Friday, company COO Satpal Chaudhry, said: "We expect to take the brand to new heights. Khoday brings about the finest quality brewing and fine liquors across the spectrum.
"There are no (Indian Made Foreign Liquor) players in the brandy and vodka segments as of now and we plan to create a market for this."
Red Knight has been available in the north Indian market for four decades with annual sales of 600,000 cases.
KIL also announced plans to invest US$50m to acquire an Australian winery as domestic wine consumption is growing at 25% at present. The company declined to specify which Australian winery it is in discussions with.
"We have set aside US$250m for acquisitions and expansion over the next two years," said L Srihari, managing director of KIL's parent company, Khoday Group of Industries.
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