How women leaders are stirring up alco-bev biz – Industry News

When Kasturi Banerjee launched Stilldistilling Spirits—makers of the Maka Zai White Rum—in 2020, she was one of the few women leaders in the country’s burgeoning alco-bev industry. “Today, it’s great to see a steady rise in the number of female entrepreneurs entering the sector, across several roles,” said Banerjee, who worked in the financial services industry as a banker for over 16 years, in India and Singapore, before embarking on her entrepreneurial journey to produce premium homegrown rums from Goa.

Many women are making a foray into the liquor business. From owning resto-bars to leading alco-bev companies, from bartending to launching new spirits, there’s a noticeable trend towards greater equality unfolding in the space.

Yoginee Budhkar and Ashwini Deore, both 41 years old, were pursuing their doctorate at the Food Engineering & Technology Department at The Institute of Chemical Technology, Mumbai, when a visitor from the UK introduced them to the concept of mead. “Mead checked a lot of boxes of interest for both Ashwini and me. It is the oldest alcoholic beverage with a rich historical context and great future potential. It aligns with our idea of a sustainable alcoholic beverage because it is made with honey, and there is significant potential to incorporate various local flavours,” said Budhkar. Thus was born Nashik-based Cerana Meads in 2019.

Similarly, for Karishma Chandy, the love for different aromas and flavours led her to study wine and spirits and become a certified sommelier. “Years of brand experience and an evolved and discerning palate created a desire to start a brand of my own, which led me to team up with Kalpesh Parekh (co-founder),” said the Mumbai native. 

The duo’s complimenting skill sets led to the formation of Happenstance Beverages and the launch of Pitbull Rum in late December 2022.

Women leaders are not just founding startups but are increasingly helming the corporate space too. Take for instance, Hina Nagarajan, the CEO and MD of Diageo India. “The alco-bev industry has observed a significant transition, with women taking on senior leadership roles and founding startups, driving innovation and growth in this sector. This reflects the changing socio-cultural dynamics in India, along with a rise in women consumers who are building a more inclusive consumption narrative,” she said.

There is more intent and effort by corporates to retain and nurture women leadership, said Nagarajan. “There is now an ongoing diversity mandate driven by policy and corporate goals for organisations and boards which is driving some change. The workforce is gradually nurturing a robust pipeline of capable women leaders,” she added.

Nagarajan took over as the MD and CEO of Diageo India in July 2021, and since then, her team has strategically focused on premiumisation, resulting in remarkable growth and profitability. “We have seen positive outcomes of our growth strategy for three continuous years now. Our standalone net sales, at Rs 10,692 crore, increased by 10.5% on a rebased basis. The prestige and above segment grew by 11.9% and accounted for 87.4% of net sales during the financial year ended March 2024. We became debt-free last year, and the market capitalisation of USL (Diageo India), which was Rs 40,000-45,000 crore in June-July 2021, is Rs 80,000-85,000 crore now,” she added.

Similarly, Ipsita Das took over as the managing director at Moet Hennessy India, makers of brands such as Hennessy, Moet & Chandon, Dom Perignon, Veuve Clicquot, Krug, Ruinart, Chandon and Glenmorangie, among others, during the Covid-19 pandemic. “We, however, saw a drastic change in consumer behaviour post-Covid which was in favour of the Moet Hennessy business in India. ‘Drink less but drink better’ became the mantra, which meant consumers started premiumising. We saw the impact of this on our brands, and premium and super premium segments across wines and spirits saw a boost of sales,” she said. The company is now seeing 20%-25% growth year on year, and in a few categories like single malt, even more than 50%.

Incidentally, 85% of the leadership and 37% of the overall team at Moet Hennessy India comprise women. “We see more women enjoying their fine wines and single malt today, or even a cocktail, than we did a few years back. For any consumer brand which caters to a diverse set of audience with evolving needs, it’s only fair we have a team that’s diverse to cater to that need of the audience,” added Das.

In fact, this is a great time to be a woman in India—with sectors across industries championing equality and celebrating great talent, and alco-bev is no exception, said Kimberly Pereira, chief operating officer at Maya Pistola Agavepura, a premium agave spirit brand based in New Delhi.

Born and raised in Kuwait, Pereira’s love for offbeat bars, unique cocktails and craft spirits led her to “explore these in several countries, converse with people of various backgrounds, and thoroughly immerse myself in beverage culture from the ground up”. “These rich experiences and interactions have shaped my understanding of the global beverage landscape—and I decided to turn this passion into a stronger professional pursuit in 2021. Leveraging my prior experience in hospitality, brand management, and the aviation sector, I pivoted to alco-bev in India, starting my journey as a brand ambassador with Pistola,” she added.

According to Karishma Manga Bedi, founder of Idaaya, a homegrown premium dark rum brand that was launched in the beginning of June, women have been a part of the space for long, just not at the forefront. “So I see women taking up leadership positions, as a sort of enrichment to the trade, not really as a trend,” added Bedi, who worked with major international brands including Dior, TAG Heuer, Sephora, and as a franchise partner for Jo Malone London, along with her experience at Forest Essentials (family-run business), before launching Idaaya.

Like many other industries, maybe this one (alco-bev) is catching up with the times in India, said Vidya Kubher, head brewer at Geist Brewing Co, an Indian food & beverage brand that makes fresh craft beer. “On the consumption side, ‘bars’ have evolved from dimly lit dingy permit rooms for mostly male crowds to vibrant pubs and restaurants that are inclusive. This naturally extends to the brewing side attracting more women,” added Kubher, who did a Master Brewer programme at the Siebel Institute in Chicago, US and the Doemens Academy in Munich, Germany and interned at some breweries in Bavaria before joining Geist in 2012.