Radico Khaitan, Bollywood actor Shah Rukh Khan, his son Aryan Khan, and Zerodha's co-founder Nikhil Kamath will pick up equity stake in an alcobev firm that will launch premium spirits including tequila and scotch globally and in India.
Under the agreement, Radico will hold 45.5% stake in the company D’Yavol Spirits while SLAB Ventures, an acronym from Shah Rukh Khan, Leti Blagoeva, Aryan Khan and Bunty Singh, will own another 47.5%. Kamath will have the remaining 5% stake.
"We are seeing this company as a platform where we will have products which are globally bottled, we will bring them into India as well as take them overseas," Abhishek Khaitan, managing director at Radico Khaitan told ET. "Getting these international brands as part of the luxury portfolio does not prevent Radico to pursue its own luxury expansion but there is clarity amongst us, that most of the products will never be price conflicting."
SLAB, formed nearly three years ago, already sells ultra-premium vodka and scotch under D'Yavol (devil in Slavic languages), which will now be marketed by Radico. In 2022, the company had tied-up with brewer AB InBev for distribution which has now ended.
Over the past few years, a host of celebrities have invested in the premium spirits segment. For instance, Sanjay Dutt and Ajay Devgn have stakes in alco-bev startup Cartel Bros that sells single malts GlenWalk and GlenJourneys and more recently Allied Blenders & Distillers set up a new company ABD Maestro with Bollywood actor Ranveer Singh to sell luxury spirits.
Blagoeva, however, said the actor's role will not be just a celebrity endorsed partnership, as Shahrukh is a crucial part of the product development.
"A celebrity driving and pushing something obviously has value but the liquid is much more important. You have to focus on the quality of your product, otherwise, whatever celebrity pool you may bring to a brand, it will be short-lived and will not allow for your long term success," said Blagoeva. "Shah Rukh serves as the curator in chief having obviously traveled and been all around the world, and it's a very high bar to meet that."
Shah Rukh Khan in a statement said, “Every great idea needs the right energy behind it. With Abhishek’s experience, Nikhil’s passion, and our creative instinct at D’YAVOL, we are building something bold, relevant, and future-facing.”
Despite India being the largest spirits-drinking nation globally in terms of volume at over 410 million cases, the share of premium and luxury and premium liquor is less than 2% due to higher duty on imported liquor. While India has a population of nearly 1.4 billion, the drinking population is considerably smaller and about half can afford only cheap unbranded liquor. The rapidly growing middle class, which can afford premium-and-above labels, is about 150 million.
Radico, which started in 1943 as Rampur Distillery, said it generated nearly Rs350 crore in sales from luxury and semi-luxury portfolio and expects Rs500 crore revenues from the pricier segment in FY26. The company posted sales of Rs4,851 crore in FY25 and has eight brands that sell more than a million cases annually.
For the maker of Magic Moments and Royal Ranthambore, premium and above brands already account for nearly 70% of its value sales and just about half its volumes and the company has guided for a 15% growth year-on-year in the premium segment.
Under the agreement, Radico will hold 45.5% stake in the company D’Yavol Spirits while SLAB Ventures, an acronym from Shah Rukh Khan, Leti Blagoeva, Aryan Khan and Bunty Singh, will own another 47.5%. Kamath will have the remaining 5% stake.
"We are seeing this company as a platform where we will have products which are globally bottled, we will bring them into India as well as take them overseas," Abhishek Khaitan, managing director at Radico Khaitan told ET. "Getting these international brands as part of the luxury portfolio does not prevent Radico to pursue its own luxury expansion but there is clarity amongst us, that most of the products will never be price conflicting."
SLAB, formed nearly three years ago, already sells ultra-premium vodka and scotch under D'Yavol (devil in Slavic languages), which will now be marketed by Radico. In 2022, the company had tied-up with brewer AB InBev for distribution which has now ended.
Over the past few years, a host of celebrities have invested in the premium spirits segment. For instance, Sanjay Dutt and Ajay Devgn have stakes in alco-bev startup Cartel Bros that sells single malts GlenWalk and GlenJourneys and more recently Allied Blenders & Distillers set up a new company ABD Maestro with Bollywood actor Ranveer Singh to sell luxury spirits.
Blagoeva, however, said the actor's role will not be just a celebrity endorsed partnership, as Shahrukh is a crucial part of the product development.
"A celebrity driving and pushing something obviously has value but the liquid is much more important. You have to focus on the quality of your product, otherwise, whatever celebrity pool you may bring to a brand, it will be short-lived and will not allow for your long term success," said Blagoeva. "Shah Rukh serves as the curator in chief having obviously traveled and been all around the world, and it's a very high bar to meet that."
Shah Rukh Khan in a statement said, “Every great idea needs the right energy behind it. With Abhishek’s experience, Nikhil’s passion, and our creative instinct at D’YAVOL, we are building something bold, relevant, and future-facing.”
Despite India being the largest spirits-drinking nation globally in terms of volume at over 410 million cases, the share of premium and luxury and premium liquor is less than 2% due to higher duty on imported liquor. While India has a population of nearly 1.4 billion, the drinking population is considerably smaller and about half can afford only cheap unbranded liquor. The rapidly growing middle class, which can afford premium-and-above labels, is about 150 million.
Radico, which started in 1943 as Rampur Distillery, said it generated nearly Rs350 crore in sales from luxury and semi-luxury portfolio and expects Rs500 crore revenues from the pricier segment in FY26. The company posted sales of Rs4,851 crore in FY25 and has eight brands that sell more than a million cases annually.
For the maker of Magic Moments and Royal Ranthambore, premium and above brands already account for nearly 70% of its value sales and just about half its volumes and the company has guided for a 15% growth year-on-year in the premium segment.
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