New Delhi | Allied Blenders and Distillers Limited (ABDL), known for Officer’s Choice whisky, has ventured into the premium gin segment with its new brand, Zoya, priced at around ₹2,000 in markets like Haryana. ABDL aims to capitalize on the significant growth observed in India’s premium gin segment, currently outpacing other white spirits with approximately 12 lakh cases sold annually.
Alok Gupta, Managing Director, and CEO of ABDL, stated that the company plans to file its draft red herring prospectus (DRHP) this month, with an IPO originally planned for March 2024, but likely to be delayed by a few months.
To enhance its presence in the luxury spirits market, ABDL intends to launch a new product every quarter in 2024. Gupta emphasized the rapid pace of premiumization in India and the potential for experimentation in the luxury segment.
Zoya gin marks ABDL’s entry into the luxury spirits market, with plans to manufacture and sell it in about 10 significant markets over the next two quarters. The company has a total of 33 manufacturing units, selling 30 million cases a year, and aims to make its mass premium segment profitable.
Competing with industry giants like United Spirits Limited, ABDL reported gross revenue from operations of ₹7,105 crore in FY23, selling 31.45 million cases. The company’s IPO and continued expansion into premium segments align with its commitment to growth and contribution to Tamil Nadu’s economic landscape.
