Thu Sep 19 06:21:40 UTC 2024: ## Nao Spirits Expands Reach, Targets New Markets in India and Aims for Profitability

**New Delhi, [Date]** – Nao Spirits & Beverages, the makers of the popular “Greater Than Gin,” has announced plans to expand its reach within India by entering two new markets: Himachal Pradesh and Punjab. This move comes as the company aims to sell a record 120,000 cases of gin in the current financial year, surpassing its previous fiscal year’s sales of 97,000 cases.

Co-founder and CEO Anand Virmani highlighted the significant growth of the premium gin market in India, which has seen a surge from 12,000 cases in 2017 to over 420,000 cases in 2023. Nao Spirits, with its 25% market share, is poised to capitalize on this trend.

The company, which currently operates a distillery in Goa with a production capacity of 200,000 cases, boasts a portfolio that includes “Greater Than,” a London Dry Gin, and “Hapusa,” a Himalayan Dry Gin. In addition to its gin offerings, Nao Spirits recently launched its limited-edition premium spiced rum, “Pipa Rum de Goa,” exclusively available in Goa.

The company’s international presence has also expanded significantly, with recent entry into nine new markets including Canada, Malaysia, Nepal, Ukraine, the Philippines, Japan, Sri Lanka, China, and the UAE. Nao Spirits currently exports its products to 23 countries with the UK, Italy, Singapore, Thailand, Taiwan, and Norway leading the export market. The company further seeks to expand into duty-free markets in the UAE, Singapore, and Nepal.

Despite its growing international presence, Nao Spirits remains focused on the Indian market, which accounts for 85% of its revenue. The company is currently present in 12 states through civil markets and 19 states through the Canteen Stores Department (CSD).

Nao Spirits is further demonstrating its commitment to growth by targeting profitability this fiscal year. The company has achieved a 40% year-on-year growth rate over the last two years, a testament to its strong market position and consumer demand.

In 2022, United Spirits Limited, or Diageo India, invested ₹31.5 crores to acquire a minority stake in Nao Spirits & Beverages, signifying a strong belief in the company’s future prospects. As Nao Spirits continues its expansion strategy, both domestically and internationally, it appears poised to further solidify its position as a leading player in the premium spirits market.

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