Jimmy’s Cocktails expects net revenue of Rs 50 crore in FY23; allocates Rs 10 crore on marketing this fiscal | The Financial Express

Jimmy’s Cocktails expects net revenue of Rs 50 crore in FY23; allocates Rs 10 crore on marketing this fiscal

It recently forayed into a new category of mixers with the launch of sparkling beverages in three variants – tonic water, ginger ale and classic lemonade

Jimmy’s Cocktails expects net revenue of Rs 50 crore in FY23; allocates Rs 10 crore on marketing this fiscal
The company claims to have raised three million dollars so far

Beverages startup Jimmy’s Cocktails, maker of non-alcoholic mixers such as Cosmopolitan, Margarita, among others, aims to close FY23 with a 150% rise in net revenue to Rs 50 crore, Ankur Bhatia, founder and CEO, Radiohead Brands, told BrandWagon Online. The company expects its net loss to widen by about 42% to Rs five crore. “Jimmy’s Cocktails is currently distributed in over 10,000 outlets across the country. By March this year, we plan to be in 15,000 outlets,” Bhatia said, adding that the company will break even over the next three years. 

The company further expects to cross the Rs 100-crore revenue mark by the end of FY24. As part of this, it recently forayed into a new category of mixers with the launch of sparkling beverages in three variants – tonic water, ginger ale and classic lemonade. These sparkling beverages from Jimmy’s, are priced at Rs 60. “All three products are made with 50% less sugar than most leading carbonated beverages in the market, without using any artificial sweeteners,” Bhatia claimed. 

Currently, Jimmy’s Cocktails is available across general trade, modern trade, and e-commerce platforms such as Swiggy Instamart and Zepto, as well as through its direct-to-consumer (D2C) channel in India, Nepal, South Africa, Maldives, and Australia. As per the company, 50% of the business comes from general trade, 25% from modern trade, and about 20% comes from online channels. “We will focus on the South East Asia market and have a hub from where we will supply to Singapore, Malaysia, and Thailand,” Bhatia added. The company claims that the international market currently accounts for about four per cent of the overall business.  

In line with its growth, the company claims to have allocated Rs 10 crore on advertising and promotional expenses. “For us, the key marketing channel is sampling and events. By this fiscal, we will plan to host 400 events. These will not be limited to Delhi, Bombay and Bengaluru, but also Indore, Jaipur, among other cities,” Bhatia stated, pointing out that the next stage of growth will come from tier 2 markets. As of now, metros and tier 1 cities account for 70% of the overall business for Jimmy’s Cocktails.

The company claims to have raised three million dollars so far and aims to start a Series A round of funding once it crosses the Rs 100-crore revenue mark. 

Also Read: Menswear brand DaMENSCH claims to clock a turnover of Rs 100 crore in FY22; opens its first offline store in Bengaluru  

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First published on: 01-11-2022 at 09:58:38 am
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