The Rise and Fall of Old Monk | Business Case Study

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VIDEO INTRODUCTION:
Hello everybody,
Old monk is one of the most iconic drinks in the Indian liquor history!! And while most people might think of Old Monk as a nostalgic college drink, what they don't know is that Old Monk had been such a legend in the market that, once upon a time old monk was the 3rd largest selling rum in the world!! And its taste was so iconic that it was considered to be the drink of gods and legends!! Old monk was so far ahead of its competition that While its competitors were selling 2-3 million cases a year, old monk alone was selling 8 million cases a year!! The best part was that the old monk achieved all of this with a zero marketing Budget!!!But you know what?? Somehow have you noticed, the old monk seems to have suddenly disappeared from the market!! Today Old Monk is nowhere close to being a market leader and from what I last read, the condition of the company was so bad that it was bleeding with 20 crores in losses and was almost on the verge of bankruptcy!!! And I am so surprised to see that a legendary Indian company rose to the top of the world and disappeared and yet no business school has ever covered the case study of rise and fall of monk!! So we decided to pull up our socks to help you get these pearls of wisdom from the rise and fall of old monk!!
So in this episode today let's do a deep dive and try to understand,
How did Old Monk become a best seller all across the world with a zero marketing budget?
After rising to the top, How did Old monk start bleeding with crores in losses?
What are the biggest mistakes that Old monk made which got it close to bankruptyct??
And lastly, as students of business, what lessons can we learn from this remarkable journey?

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[ThinkSchool]

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[arjunnair]

Going to buy Budha Sadhu(old monk) today..can't let it go bankrupt

[outbackandabout]

When he started talking about the fall of Old Monk, I paused the video and went to the shop and got a bottle of Old Monk as i simply will not allow Old Monk to fall. But then as video went ahead, he started talking about the rise of Old Monk again. So now both Old Monk and me are high as F and I'm proud of it.

[mucic]

For every like this comment gets I'll buy a bottle of old monk and drink it the same day

[Cradaver]

Old monk is in OR mess, JCO mess, Officers mess .. Unit's bada khana, TD .. Old monk is army's favorite drink...

[mr.schrodinger]

Being a 20-year old, I never knew Old Monk was this legendary. Thank you Think School for educating us on this very aspect of business.

[nilanjannandi]

Old monk launched many new products recently one of which is Old Monk Coffee Rum which tastes like Irish coffee, this product alone can kill the competition

[ppmmbb]

Old Monk falling...How???
I see it everywhere 😂
In the last you only mentioned about the comeback it made, so the title should have been 'Rise Fall and Rise Again of Old Monk'

[MBsMancave]

Very nice video. Here are a few points that I would like to mention.

1. Even though they word it in a way that a common buyer would think that the rum is 7 years old, it is actually just fresh rum that is blended with fraction of aged rum.
They use artificial flavors to achieve the taste that seems similar to an aged rum.

2. Same with usage of casks. Casks are expensive and because of high temperature in India, a lot of liquid is evaporated during the aging. While makers are genuinly aging the liquid in casks for prolonged period, selling it for sub 500 price is simply not practical or sustainable.

3. While this is just an opinion, their bounce back can be accounted to strong sales in Haryana (Gurgaon) as most NCR based people prefer to buy their alcohol from L1 stores because cheaper prices. Also, there is a nostalgia kick back as people have tried a lot of rums but none have been to crack the right taste balance and people are going back to the old trusted. Also, popular rums like Imperial Red disappeared from Delhi market after the liquor scam fiasco.

Things may change as Indian rum industry is bound to go through a change in coming years with a lot of new players entering the market.

Once again, loved the video.

Cheers!!!

[poploginjust]

Drinking Oldmonk snd waiting to educate myself with more monks

[bangtanionship]

He is telling about this drink in such detail with passion that we can feel it on our taste buds 😂😂

[yalavarthy]

The fun fact is that even if you drink a full bottle of Old Monk rum, there’s no hangover the next day, as if you weren’t drunk at all.

[rajeevmd]

Old monk bounced back due to three reasons, 1. they started handing out bottling franchises to suppliers in different states and hence got back into markets which supported within state manufacturer ( eg. like in TN) 2. they started coming out with new and bit more premium products (eg. XO cafe rum) 3. their comeback rode on a wave of nostalgia especially in places where they were previously absent due to state interference.

[AlfaA]

"Memories Bring Back... Memories Bring Back You "😂😂

[bijupanickerinok]

Old monk has now come up with white rum, we are buying it in Qatar.

My friends told old monk started selling in Manchester shops.

During Covid lockdown I had a case of old monk which helped us to navigate that period

Go strong old monk

[prithvi]

watching from Chennai. For the past few years I see old monk at the TASMACs once in a while. Every time, I stock up. Demand is always there, supply is never there.

[brouno]

Though Old Monk is a tastier rum then McDowels or Captain Morgan Rum, I just want to comment on aging part of the Old Monk Rum. 7 year aged rum blended is just a marketing gimmick. They don't mention how much of the aged rum they blend. Because selling a 7 year blended rum in india would make it way more costlier than various scotch available in the market because in a tropical country like India where evaporation is high and aging will leave very little alcohol to sell after 7 long years of aging and it will not be possible to sell a rum on that price point (xxx or others) In Mharashtra XXX cost around Rs. 800 where as a scotch like Black Dog cost around 3-4k. So this aging statement is controversial. It mainly contains artificial flavoring, artificial colours and GNP (grain neutral spirit). If somebody knows how much they blend 7 year old rum pls let me know as well.

[AsbinLeo]

Fall ? Its going high internationally 😅

[ravishankar-tluk]

Think school has found a unique way of increasing its views by presenting this kind of business cases 😅 am sure nobody would skip the video 😊

[NaveenKumar-se]

Wat a coincidence I watch all your videos at evening with my drink and today I am with a glass of old monk and watching the legendary old monk case study! Love for old monk from 7 years