This is Part 2 of two part episode on Wine Industry in India and Sula's impending IPO.

In the previous episode, we discuss about the Business of Wines in India and a brief history about Sula. In this episode, we take a deeper look at the business of Sula Wines based on the IPO prospectus that they filed.

Sula is a ~Rs. 450 Crore business with ~Rs. 52 Crore in Profits. It's been built over the last 20+ years by Mr. Rajeev Samant and the stellar team. We discuss how Sula has been able to dominate the market through a mix of great marketing, product and distribution strategy along with retaining key talent with generous compensation.

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(01:40) - What will it take to build Sula
(06:28) - Sula's People Strategy and Executive Org Structure
(10:51) - Sula's Investments in Property, Plant and Equipment is their Moat
(17:35) - Analysis of Sula's Working Capital Cycle
(24:51) - Sula's Strategy of moving away from Imports/Distribution of Foreign Brands to focus on building their own domestic brands
(29:23) - Sula's Brand Strategy - House of Brands
(33:52) - Sula's Distribution Strategy
(36:24) - Alternative Marketing, Sula Fest, Wine Tourism
(44:13) - Closing Comments on Business of Sula