Liquor-maker Radico Khaitan today said it has entered into an agreement with Japanese firm Suntory Liquors to launch two super premium whiskey brands in India.
The company has entered into an exclusive marketing and distribution tie-up with Suntory Liquors to launch Yamazaki 12 YO and Hibiki 17 YO in the country.
"With these brands, Radico will be entering a niche segment in the Indian market. Suntory, therefore, is a logical and strategic move," Radico Khaitan Ltd MD Abhishek Khaitan said in a statement.
This strategic affiliation aims to add a further premium to Radico Khaitan's brand portfolio, he added.
The two whiskey brands -- Yamazaki 12 YO single malt whiskey and Hibiki 17 YO blended whiskey -- would be available at exclusive retail outlets, starting at a price of Rs 6,500 for a 700-ml bottle.
Commenting on the deal, Suntory Liquors International Liquor Division COO Norio Mase said with Radico Khaitan's strong distribution network, the company would be able to offer its award-winning whiskey brands in India.
Radico Khaitan International Business Division Senior Vice-President Ankur Sachdeva said Suntory's premium whiskey brands will soon be available at star hotels and fine dining restaurants across select metros.
Shares of Radico Khaitan were trading at Rs 141.45 apiece in the late afternoon on the Bombay Stock Exchange today, up 3.85% from their previous close.