Indian spirits maker Radico Khaitan is entering the fast-growing tequila market through a new joint venture with Bollywood star Shah Rukh Khan and Zerodha co-founder Nikhil Kamath. The company will invest up to Rs 40 crore in the project, which will see the launch of a premium label later this year.
Best known for its `Magic Moments' vodka and high-end offerings such as Rampur Indian Single Malt and Jaisalmer Indian Craft Gin, Radico Khaitan will introduce D’YAVOL Añejo, a tequila made from agave and aged for about two years in wine casks.
D’YAVOL is a luxury brand founded in 2022 by Aryan Khan — Shah Rukh Khan’s son — along with Leti Blagoeva and Bunty Singh. Headquartered in Amsterdam, it already sells vodka and blended malt Scotch whisky.
The tequila will debut by December, with a planned retail price between ₹20,000 and ₹30,000.
The move comes as India’s wealthy consumers increasingly spend on luxury dining, premium spirits, high-end housing and cars. Alcohol sales in the country are forecast to grow by as much as 10 percent to $61.35 billion ₹5.37 lakh crores by fiscal 2026.
Tequila is one of the fastest-growing spirits worldwide, and India’s market is expanding rapidly. The domestic segment currently stands at about 3,00,000 cases a year, with Añejo — Spanish for “aged” — making up around 15 percent. This expected to grow to one million cases in the next five years.
Under the deal, Radico Khaitan and Shah Rukh Khan’s family will each hold a 47.5 percent stake in the venture, while Kamath will own 5 percent.
The announcement adds to a flurry of activity in India’s liquor industry. Just three weeks ago, Tilaknagar Industries acquired the `Imperial Blue' whisky brand from Pernod Ricard for $486 million.
