Mumbai: Monika Alcobev Ltd is recognised for representing iconic brands such as Bushmills Irish Whiskey, Jose Cuervo Tequila, Lucifer’s Gold, Hayman’s Gin, and The Choya, marking its presence in the Indian market with a turnover of Rs 650 crore over the past five years.
Kunal Patel’s leadership has been instrumental in transforming Monika Alcobev into a family-owned enterprise with a multi-disciplinary approach. Under his guidance, the company secured partnerships with globally renowned liquor brands, significantly enhancing its portfolio. Patel’s vision extends beyond just expanding the product line; he aims to deepen the company’s reach across India, particularly focusing on tier 2 and tier 3 cities.
India’s alcohol beverage market is undergoing a transformation, driven by changing consumer preferences and lifestyle shifts. The modern Indian consumer is more discerning, seeking premium and unique drinking experiences. Kunal Patel notes, “Today’s consumers are more informed and adventurous. They are willing to explore and invest in premium brands that offer distinctive flavors and a touch of luxury.”
Upcoming trends in the Indian market include a rising demand for craft spirits, flavored liquors, and exotic blends. There’s also a noticeable shift towards wellness-oriented alcoholic beverages, such as low-calorie and organic options. Monika Alcobev is keen on tapping into these trends by introducing new and innovative brands that cater to the evolving tastes of Indian consumers.
Indiantelevision.com caught up with Patel, where delved on other topics like responsible drinking, future of this industry and a lot more…
Edited excerpts
On the rise in demand for premium alcobev products in India, particularly in tier 2 and tier 3 cities
Premiumization benefits all states and cities equally. We provide these cities with products like Lucifer’s Gold Whisky, Russian Standard Vodka, Belenkaya Vodka, and so on. Super-premium brands like 1800 Tequila & Bushmills Single Malts, which were not previously available, show an increase in the demand for tequila, cognac, and single malts.
On the key challenges and opportunities you foresee in penetrating new markets
The standards and regulations of the government provide challenges as usual. We have a capable and committed staff to do a lot of market research in response to these developments and changes. Our team is growing and adding members in every state and district that we can. We always consider marketing as a strong lever to help sales get their numbers and sooner or later the hard work will be fruitful.
On Monika Alcobev’s process for selecting and introducing new brands to the Indian market
We constantly consider supply and demand while evaluating any product’s quality, price, and packaging. Additionally, we have experts from several sectors in the alcobev industry working with us to choose the top brands by conducting market research beforehand and tastings for a final approval.
On adapting to changing consumer preferences in India over the years
By consistently staying ahead of the curve and monitoring demand, we have adjusted. We see that Indian consumers are changing, progressing, and seeking to investigate various product categories. The revolution in gin that occurred four or five years ago is now influencing tequila. Since we have a significant market share in the tequila industry, we can readily adjust to any new trends that tequila drinkers may introduce.