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Khoday Red Knight Whisky storms into south Indian markets
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Saturday, 08 December, 2007, 08 : 00 AM [IST]
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MV Chandrasekhar, Bangalore
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d spirits' player, will now market its smooth Red Knight Whisky brand in the south Indian markets.
According to Satpal Chaudary, COO, Khoday India, the product is already in the north Indian markets for more than four decades and it is for the first time that it is brought down South.
The product now sports a new packaging. However, the new look continues to maintain the hour glass shape bottle but has a classic logo embossed on the package. It is priced at Rs 285 per bottle.
Current Indian Made Foreign Liquor (IMFL) market is estimated to be 148 million cases annually. Khoday India has a share of six lakh cases with Red Knight share estimated at 2 lakh cases annually. The company expects to clock 1.6 million by the end of 2007-08. The company's products : whisky, rum, gin, vodka and brandy in the IFML market in south India accounts for 48 percent sales while the markets of North contributes 25% sales to the total turnover of Rs 150 crore.
Chaudary stated that in the liquor business, the Group registered a turnover of Rs 150 crore in the last financial year and efforts are on to reach Rs 240 crore by the end of the year.
As part of growth strategy, Khoday India is planning to invest Rs 100 crore in the next two years to increase its presence in the liquor business. Efforts are also to augment its present two million cases production capacity to 20 million cases over the next two years. New products in the premium whisky/brandy segment are also indicated. In the whisky segment, both Peter Scot and Red Knight are manufactured at their Bangalore facility.
Further plans of the group include setting up a hotel at a cost of Rs 300 crore, on a 2.6 acre land, added Chaudary.
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