Magic Moments ascends to become world's 7th largest vodka brand
What's the story
Radico Khaitan's vodka brand, Magic Moments, has clocked record sales of over six million cases in FY24, equating to sales worth ₹1,000 crore.
Magic Moments's impressive performance resulted in a 25% sales value growth on-year, ascending it to the position of the world's 7th largest vodka brand.
The company also mentioned that it is expected to ascend the ranking ladder further, once this year's rankings are announced.
Sales surge
Company recorded 25% sales growth
The brand, launched in 2006, now holds approximately 60% of the Indian market share.
Additionally, it saw a substantial volume growth of 21% in comparison to the previous year.
Magic Moments expanded its spirit lineup with the introduction of Pink Vodka and the Holi Hai Edition, toward the end of the financial year.
The positive consumer response to these new products significantly boosted overall sales in the last fiscal year.
Product expansion
Expanding product line, boosts sales
Magic Moments attributes its recent success to its diverse product range and strategic marketing initiatives.
The brand offers a variety of products across semi-premium as well as premium vodka categories, including Magic Moments Remix, Verve, and Dazzle.
It also has a selection of ready-to-drink vodka-based cocktails.
The firm highlighted that its gin brand, Jaisalmer Indian Craft, is at the forefront of the luxury craft gin segment in India, commanding a 50% market share.