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“We are looking to 3x our sales this coming year”
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Monday, 02 September, 2024, 08 : 00 AM [IST]
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 The Indian rum market size was valued at US$2,097 million in 2021 and is projected to reach US$3,500 million by 2031, registering a CAGR of 5.3% during the forecast period (2022-2031). Lalit Kalani, founder, Rock Paper Rum, shares his insights on trends in alcoholic beverages like premiumisation, new flavours and more with Harcha Bhaskar. Excerpts:
Brief us about your product line? What is the USP of the products?
Rock Paper Rum currently has five product variants in the market - Indian Spiced, Coastal White, Zesty Lemon, Tropical Coconut and Roast Coffee. We are a flavour forward rum company using only the best ingredients to create our products to give the consumer a very enjoyable experience at a great price point.
Tell us about your manufacturing facility?
We currently contract manufacture our products outside of Mumbai. The products are made in small batches where we hire local employees.
Are you planning to introduce anything new in view of the mood in the market?
Seeing that flavours and cocktail culture are trending in the market we only recently launched our new flavours to keep up with what consumers are looking for.
What are your plans in regards to expansion or collaboration?
We plan to expand to a few more states this year including Haryana and are looking forward to increasing our distribution as well as doing some brand collaborations to boost our marketing efforts.
What is the strategy of doing business in India?
For us the strategy is to go deep in a few markets before we go to wide. We want to make sure our brand and products are resonating with customers in the markets we operate in before going into too many states. Focus is the key in today's markets.
How much is the alcohol beverage market in India? Where does it rank on an international platform?
India is the 5th largest alcobev market in the world at about US$49.6 billion.
What are the trends noticed by you in the Indian alcoholic beverage market?
1) Premiumisation, 2) Flavours 3) Willingness to try new brands.
Within India, which state has the highest alcohol selling market?
It really depends on which segment, but for rum - Tamil Nadu is one of the highest selling states.
What kind of sales are you looking at this fiscal?
We are looking to 3x our sales this coming year. Again since our focus is more depth than width we are stressing on making sure our brand is resonating before we go into hypergrowth mode.
How was the last fiscal?
This fiscal was our first full fiscal and was a great year for us to establish our brand presence in Mumbai, Pune and Nagpur.
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