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Sula Vineyards records highest ever Q1 net revenue & own brand revenue; appoints head of marketing
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Saturday, 13 July, 2024, 13 : 00 PM [IST]
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Our Bureau, Mumbai
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Sula Vineyards Limited, India's largest wine producer, announced its highest ever Q1 Net Revenue overall as well as for the priority Own Brands. Wine tourism represents room revenue, sale of food & beverages, merchandise, and all other ancillary products/services; excluding sale of wine on-site.
Rajeev Samant, CEO, Sula, said, "We are pleased to announce our highest ever Q1 Net Revenue, although wine consumption and tourism during the quarter were impacted by several dry days nationwide and locally during the Lok Sabha elections and the scorching weather conditions.
"I am also pleased to announce the appointment of Omprakash Singh as Head of Marketing. With a wealth of experience in various FMCG, e-commerce, and media companies like L&K Saatchi & Saatchi and Shemaroo, we're confident Omprakash is the right person to lead Sula's expanded marketing initiatives moving forward," said Samant.
The company will begin bottling at one more unit in Maharashtra, the newly acquired ND Wines facility, this month. Given its portfolio exceeding 50 labels across more than 10 brands, the company has decided, after thorough analysis, to transition the Economy and Popular brands to a third-party sales force model in Maharashtra, starting with Mumbai and Pune. This strategy, which has previously yielded strong results in Karnataka and Telangana.
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