India’s premium alcobev landscape just got a power upgrade. Radico Khaitan – maker of Magic Moments vodka, Rampur Indian Single Malt and Jaisalmer Gin – has teamed up with D’YAVOL (the luxury collective co-founded by Aryan Khan and Shah Rukh Khan) and Zerodha co-founder Nikhil Kamath to build a new high-end spirits company, D’YAVOL Spirits, starting with a luxury tequila. It’s a partnership that blends scale, star power and consumer-tech savvy – with global ambitions from day one.
Who’s Partnering And Why It Matters
- Radico Khaitan brings decades of manufacturing know-how and a formidable distribution network at home and abroad. The company has been steadily premiumizing (think Rampur in the U.S., Jaisalmer globally) and sees celebrity-led, provenance-rich labels as the next growth engine.
- D’YAVOL, created by Aryan Khan with partners Bunty Singh and Leti Blagoeva, began as a luxury collective spanning spirits and fashion; its vodka and blended malt releases have already racked up international medals and retail presence.
- Nikhil Kamath adds consumer-brand building and capital allocation chops – useful for everything from demand forecasting to digital-first go-to-market playbooks. Fortune India’s report explicitly frames the collaboration as leveraging Radico’s distribution with Kamath’s consumer expertise for India and overseas.
What’s new: The partners are forming D’YAVOL Spirits as a premium alcobev venture. Multiple outlets report that the first product will be a high-end tequila, with a roadmap that includes scotch and other internationally sourced, “bottled-at-origin” releases.
The Deal In Numbers (Ownership, Launch Timing, Pricing)
- Equity split: Radico Khaitan and the Khan family to hold 47.5% each, with 5% held by Nikhil Kamath.
- First launch: D’YAVOL Añejo (tequila), made from agave and aged ~2 years in wine casks; the India rollout is targeted by December 2025.
- Indicative price band: INR 20,000–INR 30,000 in India (state excise dependent).
Strategic Logic: Why This Alliance Could Click
1) Distribution + Desire
Radico’s manufacturing scale and distribution breadth meet D’YAVOL’s high-gloss brand world and SRK-led cultural reach. Fortune India notes the venture aims to focus on bottled-in-origin premium products, signaling authenticity and import-grade positioning – key for India’s fast-premiumizing consumers.
2) Category Momentum: Tequila Is Heating Up
Tequila remains one of the fastest-growing global categories; India is “catching on very fast.” Radico projects the India + export opportunity could touch ~1 million cases in five years, underscoring why their tequila beachhead is coming first.
3) Proof Of Product Quality
D’YAVOL’s spirits credentials aren’t theoretical: D’YAVOL Vodka has picked up golds across Singapore, Spain and Asia; D’YAVOL INCEPTION has scored top honors at major competitions, building early trust among connoisseurs and trade.
4) Celebrity x Operator x Builder Flywheel
The trio brings complementary edges:
- Celebrity & storytelling (SRK and Aryan Khan) to drive top-of-funnel desire.
- Operational excellence (Radico) for consistent liquid quality and supply.
- Data-driven brand scaling (Kamath) for pricing, targeting and channel optimization.
Market Backdrop: Premium India, Global Outlook
- India’s alcobev market is on a premiumization streak, supported by rising incomes and “drinking better” habits – one reason the venture is calibrated for high-end pricing and global styles (tequila, scotch). Domestic coverage emphasizes global marketing from day one.
- Radico has a track record of international expansion (e.g., Rampur’s U.S. rollouts), which can be repurposed for D’YAVOL Spirits’ export ambitions.
What To Watch Next
- Regulatory/route-to-market: India’s state-by-state excise regimes influence pricing and speed to shelf; expect phased launches concentrated in high-duty-tolerant metros first. (Reuters’ pricing caveat already bakes this in.)
- Supply & origin signaling: The “bottled-at-origin” promise is crucial – provenance resonates with luxury buyers and trade.
- Portfolio build-out: After tequila, scotch and other globally sourced expressions are on the roadmap; watch for limited editions to seed cachet.
- Go-to-market cadence: Given D’YAVOL’s wins in travel retail and fashion collabs, expect high-impact, design-led launches and airport/shop-in-shop moments to court premium travelers.
Summing Up
D’YAVOL x Radico Khaitan x Nikhil Kamath is more than a celebrity tie-up; it’s a calculated bet on premium, provenance-driven spirits with global horizons. With ownership aligned, a clear first product (luxury tequila), credible timelines and pricing signals, plus industrial strength in production and distribution, this alliance is positioned to set new milestones – and to push India’s luxury spirits story to a bigger international stage.
