To sell three million bottles in this financial year
Nashik-based Sula Vineyards, a leading premum wine brand company in the country, has set the target of Rs 70 crore turn over by selling 3 million bottles (750 mleach bottle) of grape-wine in the current FY 2009-10 and is eyeing to touch Rs. 100 crore in the next FY 2010-11.
Sula Vineyards is one of the major grape-wine producing companies in the country as it has 40 per cent market share. The company has four wineries in and around Nashik, with a combined capacity of 5 lakh million litres. The company has total 23 brands.
“We (Sula) are planning to achieve a turn over of Rs. 70 crore by selling 3 million bottles of grape-wine in the current FY 2009-10 and eyeing Rs100 crore turn over through a targeted sale of 4.5 million bottles in the next FY 2010-11,” Rajiv Samant, CEO, Sula Vineyards, told Business Standard.
“Sula Vineyards has now completed 10 years and our goal for the next 10 years will be to project Sula as one of the best wine producing compnies in Asian countries and achieve the sale of 1.2 crore bottles of grape-wine.” he said.
“The company has signed long-term contracts with 200 local farmers for 1,500 acres with an aim to meet its annual production requirement and we are planning to increase plantation upto 5,000 acres in the next five years,” Samant said.
“Domestic wine industry went through a tough patch during the FY 2008-09 and consumption fell by almost 25 per cent during the same period. But demand has started picking up from August 2009 and consumption is also seen booming. This insustry is expected to grow at 20 per cent a year for the next five years,” he added.