Lalit Khaitan’s Triumph at 80 as Radico Khaitan Chairman
At the age of 80, Lalit Khaitan, the seasoned chairman of Radico Khaitan, attains billionaire status, marking a remarkable journey in the ever-evolving liquor market.
Radico Khaitan’s Meteoric Rise:
Forbes reports a staggering revenue of Rs.31 crores for Radico Khaitan, attributing the growth to the company’s significant role in the dynamic industry. Share prices surge over 50% this year, driven by increased sales and successful product launches, including the wildly popular “Happiness in a Bottle” gin.
Lalit Khaitan’s Net Worth and Stake:
With an estimated net worth of Rs.100 crores, his financial success primarily stems from his substantial 40% stake in Radico Khaitan, a publicly traded company that has become a major player in the liquor market.
Brand Portfolio and Notable Contributions:
Radico Khaitan boasts a diverse brand portfolio, featuring iconic names such as Rampur Whisky, 8PM Whisky, Magic Moments Vodka, Contessa Rum, and Old Admiral Brandy. Lalit’s strategic guidance has played a pivotal role in the success of brands like 8PM Whisky, which achieved a Limca Book of World Records entry by selling one million cases in its first year.
Legacy and Origin of Radico Khaitan:
Originating as Rampur Distillery in 1943, Radico Khaitan stands as one of India’s oldest and largest manufacturers of Indian Made Foreign Liquor (IMFL). Lalit’s foray into the liquor business began in the 1970s when his father, G.N. Khaitan, acquired Rampur Distillery and Chemical Company. In 1995, Lalit Khaitan took charge, transforming the business into the influential Radico Khaitan.
Transition to New Leadership:
Today, the company is under the capable leadership of Abhishek Khaitan, Lalit’s son and an industrial engineer. Abhishek, who started his career in 1997 leading the marketing division, has continued the legacy with the strategic vision instilled by Lalit Khaitan.
Future Prospects and Ongoing Success:
Under his visionary leadership, Radico Khaitan has experienced substantial revenue growth, increased market shares, and ongoing success with innovative product launches. The company’s commitment to excellence and customer satisfaction continues under Abhishek Khaitan, ensuring a promising future in the ever-evolving spirits market.
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