Jimmy’s Cocktails, a leading name in India’s cocktails and mixers industry, achieved profitability in FY’24. Known for its extensive range of cocktail mixers, the company is now focusing on the rapidly expanding energy drinks market with its new brand, Hustle, as part of its broader strategy to establish a premium beverage powerhouse.
Market Share Overview
Discussing the portfolio and market share, Ankur Bhatia, the founder, stated, “Jimmy’s Cocktails now holds over 90 percent of the market share in its category. This success stems from our ability to create world-class products that were previously the domain of skilled bartenders. At our exclusive facility in Nashik, we continually evaluate consumer trends to develop new and exciting products. With our new sparkling range, we now boast the widest portfolio in the market. Additionally, our teams bring extensive experience in the sales, marketing, and distribution of both alcoholic spirits and non-alcoholic beverages.”
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The majority of the market share, more than 80%, comes from at-home spirits consumption. “We’ve always been clear that our primary focus is here, providing customers with a bar-like experience in the convenience of their own homes at a price point that no traditional bar can match.” This is still our top priority. Every time a consumer pours a drink, whether it’s gin, whisky, vodka, or rum, the balance of that glass is where our competition is,” Bhatia emphasised.
Targeting the HoReCa Market
The company has shifted its focus to target the HoReCa market, particularly restobars. According to him, they have adopted a two-pronged approach for this endeavor. “Our latest range of sparkling mixers, including tonic waters, lemonade, ginger ale, etc., are superior to competitors and are considered essential for any high-end bar. However, enjoying a cocktail is typically limited to the top 3000 bars in India. To address this, we’ve introduced Jimmy’s in convenient single-serve sizes that are easy to mix and store. This allows even smaller bars, unable to afford a mixologist and all the necessary ingredients, to offer and profit from such drinks. Jimmy’s provides them with a convenient solution to craft an enticing menu and keep pace with top bars,” explained Bhatia.
Market Size and Growth Potential
The current market size for mixers and club soda stands at around INR 2000 crore, with a growth rate of 12 percent. The company is determined to uphold its leadership position in the non-carbonated, classic cocktail mixers category while also aiming to capture market share from the top brand in sparkling mixers through their new range of tonic water and ginger ale.
Expansion Plans and Revenue Targets
Currently, Jimmy’s is stocked in 20,000 outlets, and with their latest range, they aim to expand to 50,000 outlets. “We began operations in mid-2021, and it took us three years to achieve our current position. Our goal is to reach a profitable revenue run rate of INR 300 crore within the next three years,” Bhatia revealed.