Jimmy’s turns profitable, eyeing 100cr revenue runrate in within 18 months

by  EVENTFAQS Bureau Industry Watch | June 10, 2024 | Feature

Jimmy’s Cocktails

Jimmy’s or Jimmy’s Cocktails as it’s well known for building the Cocktails & Mixers category in India turned profitable in FY’24. The company as part of its overall strategy to build a premium beverage powerhouse has set its attention now on the fast growing Energy Drinks segment with their brand Hustle.

Jimmy’s has the widest range of cocktails mixers in the country. Their non sparkling range, consists of classic cocktail mixers like Whiskey Sour, Bloody Mary, Mango Chilli Mojito, Margarita, Cosmopolitan, Sex On the Beach, Green Apple Martini etc. Recently the company introduced a new range of sparkling mixers in a first-of-its kind premium blue glass bottles, with Tonic Waters, Soda, Mint Mojito, Lemonade and Gingerale, to challenge the dominance of the only other leading player in market in this space. 

Jimmy’s Cocktails today command over a 90% market share in its category. One of the key reasons for this is our ability to make world class products which erstwhile were only limited to a skill of a bartender. We have an exclusive facility in Nashik where we are constantly evaluating consumer trends and coming up with new and exciting products. With our new sparkling range, we have now the widest portfolio in market. Also importantly, our teams come from deep experience in sales, marketing and distribution of beverages both from Alcoholic spirits and Non Alcoholic beverages.

At home spirits consumption commands the lion share, over 80% of the Alcobev market. We were clear form the start that our play is here as we are able to deliver a bar like experience to consumers at the comfort of their own home. And at a price no bar can offer. We are still heavily focused on the same. Every time a consumer pours a peg of Spirits in its glass, be it Gin, Whisky, Vodka or Rum the balance of the glass is where we compete for. 

We are now starting to look at bar penetration and here we have a two pronged strategy: Our new range of sprakling mixers like Tonic Waters, Lemonade, Gingerale etc are cooler than competition and a must for any premium bar to keep. Having a cocktail however is something only available in top 3000 bars in India, and we have now created Jimmy’s in convenient new single serve sizes, easy to mix, easy to store – allowing even smaller bars who cannot afford to keep a mixologist and the required ingredients to serve and profit from such drinks. Jimmy’s for them is a convenient solution to create an exciting menu and keep up with top bars.

The market for Mixers & Club Soda is approximately 2000cr today and growing at 12%. We are looking to maintain our dominance in the non carbonated, classic cocktail mixers segment, and steal share from the leading brand in Sprakling Mixers with our new Tonic Water & Gingerale range.

Jimmy’s is currently available in 20,000 outlets and with our new cheaper formats we are looking to scale this to 50,000 outlets. We got operationalized post covid mid 2021 and it took us three years to reach where we are at. Our stated ambition is to reach 300cr revenue runrate profitably over the next 3 years.