India’s whisky market has always been a fiercely contested and fluid environment with both domestic players as well as international brands clambering for a piece of the ever expanding pie. Oaksmith Gold, an international premium blended whisky had a well-appreciated journey in this landscape since its inception. In December 2019, Beam Suntory had launched the Oaksmith Gold which is an easy blend of Eastern & Western discovery created keeping Indian palate in mind. Amongst all the buzz, this article dissects the path of Oaksmith Gold- its market strategy and odds for consumer acceptance as well as an analysis on what it might mean financially if indeed a product like this gained any traction in India.
Introduction to Oaksmith Gold
Oaksmith Gold is a testament to the global collaboration, marrying together Scotch whisky malts aged in casks from Scotland with Kentucky straight bourbon barrels and then meticulously crafted by Japan. Designed by Shinji Fukuyo, Chief Blender at Suntory and the creator of some of the most awarded whiskies in the world – including Hibiki™ 21 which was named World’s Best Blended Whisky last year
Market Strategy and Launch
Oaksmith Gold was launched as a part of its strategy to foray into the premium segment within Indian whisky by Beam Suntory. International accounting for nearly half of the world’s whisky production, India is an important spirits market. That said, the ₹800 to ₹1,300 brands in scales of economy and premium segment have been relatively lesser addressed providing Oaksmith Gold a niche category.
Shinji Fukuyo – To make sure the product would click with the Indian consumers, extensive on-ground research had been done by Shinji Fukuyo. He had traveled all over India, from bar to pub, and street corner watering holes in order empathize what would appeal the Indian drinker’s palate. This work was important in creating an Indian whisky but still conformed to international quality guidelines.
Reception by the Public and Sales
Oaksmith Gold has received an unexpectedly positive response since its release. Having launched the brand with a rollout in Maharashtra and Telangana pilot markets, it has already sold more than 300k cases within a few months of market entry. With its characteristic blend and high-quality constituents, a variety of individuals have enjoyed the whisky whether they be connoisseur or low-time drinkers alike.
Awards and Recognition
The quality and craftsmanship of Oaksmith Gold have been internationally recognized. The brand has been awarded for its ranges numerous times including Gold and double gold at the annual SIP awards in California, Bronze medal of Smokey V3 & Valiente 5. The two titles showcase the brand’s recognition for quality, value and packaging.
Financial Implications
Oaksmith Gold is a very precious revenue stream for the Beam Suntory owned scotch, in India from an investment objective but also financial standpoint. It is in the mass-premium category of whisky, which has seen regular growth. India: the whisky market is expected to increase by 8% each year for at least five years, with disposable income on the rise and consumers trading up their choice of tipple.
This focus of Beam Suntory on the segment is in line with its long-term ambition to achieve $1 billion sales by 2030 from India. The achievement of Gold Oaksmith is consistent with this ambition because it takes more and more market share to the detriment of established national and international brands.
Cultural and Social Impact
Apart from its financial prosperity, Oaksmith Gold has additionally managed to alter cultural dynamics by providing a makeover to whisky drinking in India. The signature offering is an homage to the blend of East and West traditions that has both excited tastes with new flavors but also a sense of drinking ritualismo. Case in point: the “Takumi” serve ritual, comprising pouring specific amounts of water and ice with a dram to release its flavors slated.
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Conclusion
Oaksmith Gold’s mission of a premium whisky in the Indian market has been an interesting case study where this robust category demonstrates opportunities for a brand that can understand consumer preference and capture global intellectual capital to launch such products successfully. The finest of ingredients put together with masterly blend is what makes Oaksmith Gold a new benchmark in the Indian whisky category. Not only does its financial success prove that the next premium international brand could very well be playing on Indian ground, it stands as a testament to everything that is changing in India. This global debut is the latest example of Ziphius innovation and collaboration as Beam Suntory keeps pushing boundaries, with Oaksmith Gold set to fuel its growth ambitions for years to come – a brand that’s East meets West at heart.