New Delhi, Nov 25: Vijay Mallya-owned UB Group has said it will launch a new brand of wines 'Zinzy' next month, priced at Rs 275 comprising both red and white wines.
''We will launch Zinzy next month, priced at Rs 275,'' said United Spirits Senior VP and Chief Wine Maker Abhay Kewadkar.
The Rs 150 crore Indian wine market has been growing at a yearly pace of 25-30 per cent making India one of the fastest growing wine markets in the Asia Pacific region.
The Group had also acquired Bouvet Ladubay, a 156-year-old French wine company, in 2006. Bouvet-Ladubay wines are priced at Rs 1,500-Rs 3,000 per bottle.
With the technology acquired, the Group hopes to produce sparkling wines from Baramati, where it has acquired land for setting up a winery. ''The first harvest is due for January next year and we hope to bring one million bottles in the market,'' said Mr Kewadkar.
When asked about its acquisition spree, Mr Kewadkar categorically said, ''We are not out there with a shopping bag. If an opportunity comes across, we will definitely look into it''.
The company might acquire an Italian wine company in January, he added.
Talking about exports, Mr Kewadkar said the company has received 'serious' enquiries and certain importers from the UK, the US, France have visited the facilities.
The company will also launch its 'Four Seasons' label in January next year in six varieties and will export the brand to UK, US and France.
The company expects to drive the expansion of the wine category in the country and expects to capture a market share of 30-35 per cent in the next four years.
Diageo India is also entering the Indian wine market with its domestic brand Nilaya, which is priced between Rs 395 and Rs 500 and will be available in Goa. The company had launched its range of international wines like Blossom Hill Barton and Buestier, and Piat d'Or earlier this year in the country.
The Indian wine market sees sales of six million cases a year.
Seagram, the Indian arm of Pernod Ricard, has also launched its Nine Hills wine here last year, and is planning to increase production capacity by around 60-70 per cent annually, over the next few years.