Radico Khaitan, the spirits major of the country is all set to launch its super-premium brandy this month as an initiative to focus on premium-focused growth strategy.
The company will launch its brand Morpheus this month which was scheduled to be launched around six to eight months ago. The brand will cost Rs 550 to Rs 700 a quart in the south Indian markets which have shown strong annual growth over a period of time. The company is eyeing 10% market share of the premium brandy segment by the end of this fiscal.
At present in the premium brandy segment, there are only two brands available, Courier Napoleon brandy and Caesar brandy from Tilaknagar Industries and United Spirits (USL) respectively, which are sold mainly in the south Indian markets of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh at a price of Rs 350 to Rs 500.
Radico Khaitan has some popular brands like Old Admiral and 8 PM Excellency with strong distribution network which will play a key role in successful launch of Morphes.
Apart from this the company is also working on launching one more premium brand shortly.