Speakeasy 'hidden bars' emerge as India's new premium nightlife format
Operators like PCO, ZLB23, Somewhere Nowhere and Margaret's Eye are driving experience-led premiumisation in New Delhi, Mumbai and Bengaluru, favouring craft cocktails, exclusivity and narrative over scale. The shift aligns with India's projected 357M-litre alcohol consumption growth through 2024-2029.
What happened
India's premium nightlife is shifting toward speakeasy-style hidden bars emphasizing craft cocktails, exclusivity and narrative over scale. Operators like PCO,
Key facts
- 357 million litres (2024-2029 alcohol consumption growth)
- PCO founded 2012
- 7-seater (The Theatre at ZLB23)
Why this matters
Watch established operators like PCO and ZLB23 as consolidation or licensing targets to acquire premium brand IP and metro nightlife footprint ahead of broader premiumisation.
What to watch
- New speakeasy openings per quarter across top-6 metros
- State excise or licensing changes affecting late-night/high-margin venues
- Average cocktail price points and cover-charge/membership fee movements
- Entry of hotel chains or QSR-style franchised speakeasy formats
- Craft/local spirit brand launches and distribution deals tied to venues
- Premium spirit brands seek exclusive pour/menu placements and co-branded cocktail programs in flagship speakeasies
- Hospitality groups launch membership or reservation-app gated tiers to defend exclusivity
- Bar-consultancy and mixology-academy startups scale to service new venue pipeline
- Retail/D2C premium mixer, glassware and at-home cocktail kit brands ride the halo effect
- Real-estate operators repurpose basement/heritage spaces for narrative-led venues