Image Source: Equity Bulls
India’s spirits industry has witnessed a watershed moment today, August 12, 2025, with Radico Khaitan Limited announcing a landmark partnership through the acquisition of a controlling 47.5% stake in both D’YAVOL Spirits Private Limited (India) and D’YAVOL Spirits B.V. (Netherlands). This strategic alliance also brings together global icon Shah Rukh Khan, Aryan Khan, entrepreneur Nikhil Kamath, and Radico Khaitan’s Abhishek Khaitan to launch the new-age D’YAVOL Spirits, poised to disrupt the premium alcobev segment with its first luxury tequila offering.
Key Highlights from the Board Announcement
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Radico Khaitan’s board, at its meeting today, greenlit a strategic investment of up to Rs40Crores, securing a 47.5% equity stake in each of the D’YAVOL entities on a fully diluted basis. This makes Radico Khaitan the largest shareholder, with two board nominees—one as Chairperson—out of four members.
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The transaction covers both domestic (India) and international (Netherlands) markets, with agreements signed alongside Aryan Khan, Harprit Singh, NK Enterprises Holding Limited, and Kamath Technology LLP.
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The joint venture’s scope encompasses global marketing, trading, and distribution of premium spirits and sets luxury tequila as its inaugural launch product.
Strategic Rationale and Partnership Dynamics
The collaboration aspires to create worldwide, ottled-in-origin luxury brands anchored in regional provenance, combining Radico Khaitan’s decades of blending, marketing, and distribution excellence with D’YAVOL’s creative flair and Nikhil Kamath’s market expertise.
All strategic, financial, and operational decisions require full shareholder consent, ensuring carefully aligned governance and growth. Reserved matters, shareholder rights, management access, and intellectual property are clearly defined in the executed agreements.
The deal does not fall under related party transactions, with no promoter group benefits, emphasizing its arm’s length nature.
About the Entities
D’YAVOL Spirits B.V. (Netherlands) has been operational since 2018, reporting an average annual revenue of EUR1.2million over the last two years.
D’YAVOL Spirits Private Limited was newly incorporated in India in August 2025, reflecting the fresh domestic impetus for the venture.
Both companies will operate globally, leveraging Radico Khaitan’s footprint in more than 100 countries.
Vision for Premium Spirits
The new D’YAVOL Spirits partnership sets out to build bottled-in-origin brands resonating with discerning Indian and international consumers, initially focusing on the surging tequila category and eyeing further niche segments in the future.
Executives highlighted the blending of legacy, creativity, and entrepreneurial ambition: Radico’s long-term vision for luxury brands, the Khan family’s star power, and Kamath’s disruptive approach offer a compelling blueprint for industry leadership.
Consumer Impact and Market Prospects
This move aligns with Radico Khaitan’s premiumisation strategy, aiming to broaden India’s alcobev landscape with culturally rooted brands that challenge global standards of quality, design, and authenticity.
D’YAVOL Spirits, already known for multi-award-winning products, will now benefit from Radico’s deep category knowledge, marketing muscle, and expansive distribution network.
The luxury tequila launch—expected in the coming months—will set new benchmarks for Indian spirits both locally and worldwide.
In summary, Radico Khaitan’s partnership with D’YAVOL Spirits, Aryan Khan, Shah Rukh Khan, and Nikhil Kamath is set to redefine premium spirits in India, opening a new chapter of innovation, global outreach, and lifestyle resonance. The deal, concluded today, will be remembered for uniting industry legacy with pioneering ambition—a bold stride as India takes its brands to the world.
Source: Radico Khaitan Board Intimation and Press Release
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