Alcohol mixing is an art and Jimmy’s Cocktail is bringing the fancy cocktails homes with their ready alcohol mixes. The company pilot tested its products in 2019 from a Gurugram paan shop opposite a premium alcohol shop. It was soon available in 200 outlets by December, 2019. Jimmy’s Cocktail realized that 95% of the beverages sales in India happened through physical outlets and that is when they decided to make Jimmy’s products available through major retail outlets. Today the company boasts of a strong offline presence over 50 cities in 6000+ retail outlets. the product is available in major e-commerce platforms and reaches consumers across 400 towns and cities.
Jimmy’s Cocktail – Founders and their Story:
The company was conceived by an ex-entrepreneur Ankur Bhatia, when he went pub hopping with friends. Later he was joined by the Nitin Bhardwaj who was earlier part of Red Bull’s leadership team and Mirza Baig. Together the trio decided to get into the alcohol segment. They wished to target the audience that has a developed taste for cocktails and wished to have a rich taste experience even at home. If you asked the founders how they landed the name ‘Jimmy’s’, Ankur would be prompt in replying with modesty that the names Jack, Jim and Johnny were already taken.
Every alcohol consumption has a partner. Only 25% of the glass is alcohol and the rest is either tonic, soda, mixer or cold drink. The team found out that premium alcohol consumers mostly prefer the two most famous cocktails– Bloody Mary and Margherita. The start-up wanted to target this 75% of the market. To begin with the mixture had to be a correct blend of flavor and feel. This was a tough thing to achieve. Jimmy’s Cocktail started with four cocktail mixers (Whiskey Sour, Sex On the Beach, Mango Chili Mojito and Cosmopolitan).
The Funding Journey:
The founders funded the initial investment and began Jimmy’s Cocktail with Rs. 50 lacs. Few months down the line they raised a small seed funding of Rs. 2 crores. Today the non-alcoholic beverage startup has raised a total funding of Rs. 335M in over 4 rounds. The latest one being on July 18, 2023. The same was reported by us at Samnivesh. Jimmy’s cocktail has over 15 investors. Naming a few key investors like, Angad Bhatia, Mirza Baig, Neel Bahl, Keki M Mistry, Prath Ventures, 7 square ventures among others.
The Future of Non- Alcoholic Beverages:
In 2020, the non- alcoholic beverages market in India was Rs 336.50 billion and is expected to grow at CAGR of 18.69% over the next decade as per ResearchAndMarkets.com. This way the industry will reach a value of over Rs. 1100 billion by 2027. 80% of alcohol consumption in India happens at home as reported by International Wine & Spirits. The idea behind Jimmy’s Cocktail is to bring the exotic bar experience to home. Where most of the liquor can readily be made available but not the cocktail mixes. There sprouted a startup that was here to change the way India drinks. To capture more of the aforementioned 75%, the company has forayed into energy drink segment with ‘Hustle’. There are a few players with energy drink and ginger ale mixers in the market. This non-alcoholic beverage start-up is competing directly with Schweppes and claims to be at the 2nd spot after the market leader. The way this industry is growing is a huge benefit for Jimmy’s Cocktail.
The company is also looking to expand to more places internationally. It is already exporting to Australia, South Africa and Nepal. The founders are ready to experiment and bring world class trends to India through its product inventions and R&D. They intend to reach more consumers through their online and offline presence. We may well see, more stirring up the glass, with Jimmy’s Cocktail in the future.
