New ‘D’YAVOL Añejo’ Tequila Aims to Capture India’s Growing Premium Alcohol Market, Taps into Celebrity Power and Investment
Mumbai, India – August 13, 2025 – In a significant move that highlights the booming luxury market in India, liquor major Radico Khaitan, the company behind “Magic Moments” vodka, is making a bold foray into the premium tequila category. They are set to invest up to $4.56 million in a star-studded partnership with none other than Bollywood superstar Shah Rukh Khan and Zerodha co-founder Nikhil Kamath to launch a new tequila brand.
The new product will be a premium spirit called D’YAVOL Añejo. Made from agave and aged for about two years in wine casks, this tequila marks a new chapter for Radico Khaitan, which is already well-known for its high-end offerings like Rampur Indian Single Malt and Jaisalmer Indian Craft Gin.
This new venture is a collaboration with D’YAVOL, a luxury brand founded in 2022 by Shah Rukh Khan’s son, Aryan Khan, alongside partners Leti Blagoeva and Bunty Singh. Headquartered in Amsterdam, D’YAVOL’s portfolio already includes vodka, blended malt Scotch whisky, and a premium streetwear line.
A Market on the Rise: Why Premium Tequila?
The D’YAVOL Añejo tequila is slated for a grand launch by December of this year. Radico Khaitan’s Managing Director, Abhishek Khaitan, told Reuters that the price will be set between 20,000 rupees ($228.21) and 30,000 rupees, depending on state excise duties.
This strategic launch is perfectly timed to capitalize on the spending habits of affluent Indians, who are increasingly splurging on luxury goods and experiences, from high-end dining to premium alcohol, housing, and cars. Data from analytics firm Crisil projects that alcohol sales in India are expected to grow by as much as 10% to reach $61.35 billion by fiscal year 2026.
Abhishek Khaitan noted that tequila is one of the fastest-growing alcohol segments globally, and India is quickly catching up. The current market size for tequila in India is around 300,000 cases, with the Añejo category (a Spanish word meaning ‘aged’) making up about 15% of that. “We believe that in the next five years, tequila can reach a volume of about a million cases in India plus global market, so I think it was a great opportunity,” Khaitan said, expressing strong optimism for the brand’s potential.
A Stake in the Game: The Partnership Details
Under the terms of the new partnership, Radico Khaitan and Shah Rukh Khan’s family will each hold a 47.5% stake in the venture, while Zerodha co-founder Nikhil Kamath will own the remaining 5%. This deal not only brings together a major liquor producer and celebrity star power but also underscores the intense competition in both the mass and premium liquor markets.
Just three weeks prior, rival company Tilaknagar Industries acquired the “Imperial Blue” whisky brand from Pernod Ricard for a staggering $486 million, signaling a wave of high-stakes activity in the industry.