Sula Talk in India: Status Quo
When a business goes public through an initial public offering (IPO), they release a document known as the Draft Red Herring Prospectus or DRHP for short. Usually, it’s a huge book with about 500 pages. It also covers a wide range of topics, including the company’s finances, risk considerations, and industry trends.
Only 1% of the $30 billion alcoholic beverage market is devoted to wine. Or, to put it another way, only 40 ml of wine is consumed per year per person.
For comparison, the average amount of wine consumed annually worldwide is 5.45 litres. Even Chinese people don’t drink much wine down to 1.56 litres annually. Therefore, winemakers are hopeful that we will at least reach that amount. We probably won’t get there anytime soon, though. Whiskey and other hard spirits are quite popular in the nation and makeup about 70% of all alcoholic beverages consumed.
Let’s talk wine!
Companies like Sula Vineyards and Grover Zampa have leapt into the scene. They sought to alter India’s drinking practices. 1% of a customer’s spending power may not seem like much progress over two decades, but anything is better than nothing, right? Considering that all wine in 2000 was imported. The wine was only consumed in five-star hotels. 95% of the consumption happened there.
The figures today are significantly different.
Wine is grown domestically to an extent of 84%. Additionally, just 25% of the wine is consumed in posh hotels and eateries. Most people choose to open a bottle, relax on their couch, and sip their beverage while watching a movie with friends. The world has evolved.
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