Wine maker Sula Vineyard eyes double-digit growth on premiumisation

Raising toast to 25 successful years, India’s largest wine maker Sula Vineyard is eyeing a sustained double-digit growth in revenue over the next five years, buoyed by growth in the premium and elite categories and expansion of its new ranges. It was during Covid that the vineyards shifted focus to its own brands and pivoted towards growing the premium and elite segment of the market. “Rather than trying to compete in the segment priced between Rs 250 and Rs 700, which is price sensitive and discount driven, we turned our focus to dominating the price segment above Rs 700 and the elite segment over Rs 1,000, which competes with imported wines. It has been an incredibly successful journey over the past three years,” says Rajeev Samant, chief executive officer at Sula Vineyards.The premium and elite section of the winery has grown at a compound annual growth rate of 15-20 per cent over the last three years. “The segment contributes close to 80 per cent to our revenues, up from 55 per cent four years ago. It is a huge shift. Going forward, we see good double-digit growth ahead in these two segments,” he adds.