Piccadily Agro bets big on luxury with 'Cashmir' vodka; targets 1 lakh cases in 3-5 years

Piccadily Agro Industries Ltd. has entered the premium vodka market with the launch of its new brand Cashmir. The company is targeting sales of 1 lakh cases over the next three to five years, with retail prices for a 750 ml bottle ranging between ₹1,800 and ₹3,500 depending on the market.

Piccadily Agro has so far focused on premium whisky and rum under its Indri and Camikara brands. With the new vodka line, the company is looking to expand its portfolio and tap into rising demand for premium white spirits. The product will be launched in phases, starting with select states in India and export markets with strong demand for Indian alcobev products.

“With Cashmir, we proudly expand our portfolio beyond award-winning single malts and rums into the world of ultra-premium vodka. This is a natural evolution in our journey to place Indian spirits firmly on the global map—defined by quality, authenticity, and innovation,” said Praveen Malviya, CEO (IMFL), Piccadily Agro Industries Limited, in a statement.

The premium vodka spirit will be manufactured at the company’s flagship distillery at Indri near Karnal, Haryana.

India’s vodka segment has been showing steady growth, driven by premiumisation, changing consumer tastes, and a growing cocktail culture in urban centres. According to IWSR Drinks Market Analysis, the vodka category in India grew by 16.5% in 2023. While low-cost vodka still dominates volumes, premium and super-premium segments are expanding faster. Flavoured vodka, in particular, is emerging as one of the fastest-growing sub-categories.

Cashmir will be available in both non-flavoured and flavoured variants to cater to different consumer preferences. The company says the vodka is made using glacial water and is inspired by the geography and culture of Kashmir.

The launch follows a strong year for the company’s premium portfolio. In FY25, Piccadily Agro’s premium alcobev business grew 40% year-on-year. The company has been investing in branding, distribution, and export capabilities over the past few years to support its expansion into new segments.

Piccadily Agro Industries closed at ₹557.85 on the BSE, down 0.26% from the previous close of ₹559.30 today. The stock opened at ₹564.85, up 1% and reached an intraday high of ₹569, up 1.7%. The stock has fallen almost 42% year to date.