Sula has made it to our tables and our hearts. You don’t have to be a wine lover to know that in the Indian wine industry, Sula is the market ruler. As a true market leader, Sula commanded 56% of the market share in 100% grape wine in FY21. The company’s initial public offering will open on December 12, 2022, and before that, let’s learn seven fascinating facts about the company. It’s going to be an exciting read. So, stay with us.
- Founder Rajive Samant started Sula Vineyard in Nashik in 1999. He named the brand after his mother, Sulabha. Since then, the company has made remarkable progress in the Indian wine segment, increasing its market share from 33% in 2009 to 56% in 2021 in the 100% grape wine category.
- Sauvignon Blanc and Chenin Blanc were the first two variants of wines marketed under the brand’s name. However, Sula isn’t the first Indian winemaking company. Indage (in 1986) and Grover (in 1991) were in the market before Sula.
- Californian-based winemaker Kerry Damskey played a significant role in the company’s remarkable rise. Today Sula offers a wide variety of wines, including Dindori Reserve Shiraz and the Late Harvest Chenin Blanc, the country’s first dessert wine. In July 2015, it also introduced India’s first 100% grape brandy, Janus.
- It sells twenty-five variants of wines, and among these, red Cabernet Shiraz and white Chenin Blanc, and Sauvignon Blanc are the best-sellers.
- Starting from the family’s 30-acre farm land, Sula has expanded to 1800-acre property in Nashik, with two primary wineries in Nashik and Dindori and three additional custom crush facilities in Nashik and Karnataka.
- Sula is a leader in all price segments – Elite, Premium, Economy, and Popular. Sula Shiraz Cabernet is the highest-selling Indian wine, with a total billing value of ₹918.26 million in March 2021.
- Last but not least, Sula is the pioneer in Wine tourism in India. In a 3-4 hour drive from Mumbai, it is a perfect weekend getaway with wine, dining, and exquisite resorts. In 2020, Sula Vine received 368,000 visitors.
About the company
Sula started to make wine in 2003. In 2021, it became the largest wine company in India as a pure-play wine company. Its flagship brand Sula is a category creator. But the company also distributes fifty-six different levels, including a bouquet of popular brands like RASA, Dindori, The source, Satori, Madera and Dia etc.
The company is backed by several leading private equity and institutional investors, like Belgium-based Verlinves, which has invested over USD 70 million since 2010.
The road ahead
The state government highly regulates the alco-beverage industry in the country. Moreover, high regulations restrict the entry of new competitors in the sector, which allows the few players to enjoy a significant margin. Sula has carved a niche for its brand among India’s wine lovers. They have created a strong network of distributors and retail resellers in twenty-five states and six union territories.
The company plans to expand its foreign reach. They started exporting to twenty foreign countries, including Spain, France, Japan, the United Kingdom and the United States, in 2003. It is prepared to take advantage of the new wine policy, which allows wine selling in departmental stores.
Sula has brought global recognition to India’s wine industry. The company has a history of catering to the Indian’s taste for the last twenty years. Invest in Sula Vine IPO with Angel One. open your Demat account with us for free.