Meet Lalit Khaitan, the visionary billionaire behind 8PM whisky, magic moments and Rs 3,200 crore growth
Last year, this company, listed on the stock exchange, experienced a significant increase in its stock price, surpassing a 50% rise.
India¡¯s liquor industry is blooming. With new brands launching on the daily, many citizens now prefer homegrown brands over international ones. This boom has benefited Lalit Khatian tenfold! He has become the nation¡¯s newest billionaire. The 80-year-old businessman is the chairman of Radico Khaitan, a Delhi-based liquor company with a revenue of $380 million (Rs 3,200 crore).
This company sells the popular 8 PM whiskey, Old Admiral brandy, Magic Moments vodka and Rampur single malt.
Radico Khaitan saw more than a 50 percent jump in the last year
forbes
Last year, this company, listed on the stock exchange, experienced a significant increase in its stock price, surpassing a 50% rise. This growth was fueled by rising sales and the successful introduction of new products such as the "Happiness in a Bottle" gin. As of July 2, 2024, Radico Khaitan commands a market capitalization of around Rs 23,700 crore and is one of India¡¯s largest IMFL companies.
Lalit Khaitan early life
money control
Born in Kolkata, Lalit Khaitan received his education at Mayo College in Ajmer and later at St. Xavier's College in Kolkata. In 1972-73, he assumed leadership of Radico Khaitan at a time when the company was grappling with financial challenges. Under his stewardship, Lalit Khaitan navigated the company to remarkable success.
All you need to know about the company Radico Khaitan
Originally focused on bottling, Radico Khaitan shifted into bulk alcohol production before making a strategic move into branded beverages in 1997, influenced by the arrival of Lalit Khaitan's perceptive son, Abhishek, within the company.
In its competitive landscape, Radico Khaitan faces significant rivalry from United Spirits, a Diageo-owned subsidiary once led by the charismatic liquor tycoon Vijay Mallya. It also contends with niche producers like Stilldistilling Spirits India from Goa, renowned for Maka Zai rum, and Third Eye Distillery Holdings, creators of Stranger & Sons gin.
radico khaitan
Today, Radico Khaitan stands as a major player in the Indian Made Foreign Liquor (IMFL) industry, exporting its diverse portfolio of brands to more than 85 countries worldwide.
Radico Khaitan recently launched the Jaisalmer Indian Craft Gin 'Gold Edition'
jaisalmer gin
This recent addition continues to build upon the achievements of Jaisalmer Indian Craft Gin, which currently commands a remarkable 50% market share in the luxury gin segment.
The Jaisalmer Indian Craft Gin 'Gold Edition' sets new standards in premium spirits in India, featuring saffron, the world's most expensive spice, and passing through gold filters for enhanced smoothness and purity. With 18 botanicals, it offers a refined taste for connoisseurs seeking luxury.
The Jaisalmer Indian Craft Gin 'Gold Edition' will debut in a 500 ml bottle, priced between Rs 4000 and Rs 7000, varying based on state excise regulations. Initially launching in Uttar Pradesh and subsequently expanding to Delhi, Rajasthan, Maharashtra, and Karnataka from July onwards, it aims to captivate gin enthusiasts across India's primary markets.
Lalit Khaitan¡¯s net worth
With a substantial 40% ownership in the company, Khaitan's total worth is estimated at $1.1 billion (Rs 9,188 crore).
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