Cartel Bros, the renowned producer of the exquisite whisky brand The Glenwalk, has set its sights on reaching a revenue target of INR 200-240 crore. Jitin Merani, Co-Founder of The Glenwalk and director at Cartel Bros, revealed that the company is strategizing to expand its presence across 12-15 states in India by the end of the fiscal year 2024-25.
Having set its sights on nationwide expansion, the company has ramped up its production to over two lakh cases, equivalent to approximately 24-30 lakh bottles, for this fiscal year. Furthermore, it targets sales of 28 lakh bottles by the subsequent fiscal year.
Launched in June 2023 in collaboration with brand partner actor Sanjay Dutt, the brand is experiencing month-on-month sales growth of 15-20% in the blended Scotch category. This surge is attributed to its competitive pricing and alignment with global quality standards, as stated by the company.
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Providing additional insights into the previous fiscal year’s performance, Merani disclosed that the brand generated revenue of INR 9.3 crore by selling 7,280 cases, equating to approximately 85,000 bottles, from June to March. During the last fiscal year, the company was operational for four and a half months. However, for the remainder of the year, it faced stock shortages due to overwhelming demand for its whisky, surpassing expectations in just three cities of Maharashtra.
Outlining the retail strategies tailored for the Maharashtra market, Neeraj Singh, Chief Business Officer, explained that the company initially focused on retail shops and restaurants, establishing a presence in 300 restaurants across three cities. Looking ahead, the company plans to expand its presence into social clubs and recreational gymkhanas.
Recognizing a gap in the market for reasonably priced yet high-quality Scotch whisky, following its success in the Maharashtra market, the company aims to expand its presence this year to include other states such as Punjab, Haryana, Uttar Pradesh, Uttarakhand, Himachal Pradesh, Orissa, Telangana, Karnataka, Goa, and North East India.
Singh added, “Market strategies in the Northern region will be tailored to accommodate varying consumer drinking habits and excise policies.”
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Cartel Bros has additionally entered into agreements with Le Marche Duty-Free, a part of the Adani group, to establish a presence in six international airports, enhancing its relevance in the market.
Speaking on the investment plans, Merani stated, “We have allocated approximately INR 18-20 crore to the company in the previous fiscal year. In the current financial year, we are planning to invest INR 30 crore to further expand our portfolio and fulfill our working capital needs.”
Presently, the company is registered both in the UK and India under the name Glenwalk. Its whisky is crafted and bottled in Scotland.