firm is aiming at growing volumes by at least 50% next year.
It also plans to strengthen the marketing network besides appointing a CEO to run operations.
“It's a long haul, it will take them at least 2-3 years,” said Alok Chandra, a Bangalore-based wine expert and consultant. While the wine industry volumes are still small and profitability very thin, the barriers to expanding reach are also high, he said.
Sula, Grover Zampa and United Spirits Ltd are the three largest winemakers in India at present. The wine industry volumes were at 1.6 million litre in 2011, with fortified wine accounting for 600,000 litres according to data from the London-based market research firm Euromonitor. The fortified wine category has been growing faster than still light grape wines and sparkling wines.