Salud Beverages Raised USD 1.1 Million That Aided Its Robust Expansion Plans and Diverse Product Portfolio
Bangalore, Karnataka, India
Salud Beverages, an Urban Lifestyle brand that was launched in Karnataka earlier this year, raised USD 1.1 million as of March 2021.
Salud Beverages, an Urban Lifestyle brand that was launched in Karnataka earlier this year, raised USD 1.1 million as of March 2021. The VC fund, comprising actors and HNIs includes serial entrepreneur and leading Indian actor Rana Daggubati, and former Managing Director of Microsoft India, Srinivas Koppolu, among others backed by Prasad Vanga’s Anthill Ventures.
The fund was primarily used to establish a formidable retail presence with flagship brand Salud G&T 2.0, a bottled gin and tonic cocktail, as well as to build a diverse product portfolio. This resulted in G&T 2.0 being available in over 500 retail outlets, with 250,000 bottles sold and a consumer base that is growing every passing day.
After successfully launching the brand in Karnataka, bringing out the country's first RTD gin and tonic in a bottle, Salud followed it up by introducing Salud Merch and Salud Sessions. Salud Merch offers an exclusive range of fashion and lifestyle merchandise and accessories. Salud Sessions, the music label, collaborates with leading DJs from around the country creating compilation volumes of electronic beats, accompanied by music videos.
Sharing his views on Salud’s journey so far and about the market at large, Ajay Shetty, Founder-Director, Salud Beverages said, "We are a focussed brand striving to put India on the global map, alongside the best countries in the world, with some of the finest spirits including bottled cocktails, craft spirits, non-alcoholic beverages and more. And not to stop there, but continue to innovate with products and experiences that will lead to a loyal consumer base, on the way to our big-picture goal of becoming an aspirational global lifestyle brand."
Ready-to-drink (RTD) cocktails are fast becoming the drink of choice – from millennials to connoisseurs alike. Everybody is warming up to the idea of bottled cocktails, and it cuts across demographics, culture and lifestyle.
Salud G&T 2.0 is currently available in three refreshing flavours - Original, Cucumber and Lavender, all of which are distilled in Goa. These bottled cocktails are made of English Juniper, botanicals sourced from Europe, and the finest Indian tonic, giving consumers a premium quality experience with affordable pricing.
The Indian alcobev ecosystem has become increasingly dynamic in recent times. This is a result not only of many players entering the market but also the appetite of a consistently growing consumer base that has shown great interest in healthier, more responsible and more unique and modern drinking options. Reports indicate that the global size of RTD cocktails market is expected to clock USD 1775.1 million by 2028, and India is ripe with potential, ranking among the top 3 largest alcoholic beverage markets in the world.
In the coming days, Salud will expand its footprint into other markets such as Goa and Orissa and additional domestic markets. It will also be adding new flavours to the G&T 2.0 range, as well as expanding with new offerings in both, the alcoholic and non-alcoholic beverage segments. It expects to triple its current sales by the end of FY 2021-22. Entering international markets in the Middle East and Europe is also a part of the long term strategic plan that should materialise by the end of the year.
(Excerpt from a release)
True to its commitment of investing in 'Make in India', French gourmet flavour business, Georges MONIN SAS (MONIN) has announced an investment of INR 200 crores for its first phase of setting up the manufacturing plant in Telangana. MONIN had signed an MoU with the Department of Industries & Commerce, in 2018 Telangana and announced an initial investment of INR 100 crores to set up a manufacturing plant in India. The French business has since opened its wholly owned subsidiary in Hyderabad as MONIN India Pvt. Ltd and has acquired 40 acres of land for its manufacturing site. It has also set up an in-house R&D centre in Hyderabad which is key to understanding the Indian flavour palette and developing new flavours and product categories on top of MONIN’s existing range of popular flavours.
Despite the setback due to the Coronavirus pandemic, the French company has now doubled its investment for the plant, targeting completion by 2023. "With the increased investment of 200 crores, India remains a top-priority market for MONIN," says Olivier Monin, Chairman, Georges MONIN SAS. "We have come a long way since our first tryst with India 23 years ago - from supplying our portfolio through a single distributor, to setting up our subsidiary and R&D centre and now on a steady path towards an entire green-field facility – it has been nothing short of a resilient success story for our family-run business, and we have India to thank for it."
Known to derive inspiration from connecting with communities and driving innovation, MONIN has also announced its first state-of-the-art MONIN studio in India, at The Dhan Mill, New Delhi. This unique experience centre, set to open by second half of August, would be vital to engage with the local Horeca professionals and create unique tasting experiences around MONIN products in the country. "MONIN brings more than a century of traditional artisanal beverage know-how to cater to Indian hospitality professionals and consumers," says Germain Araud, Managing Director, MONIN India Pvt. Ltd. MONIN is globally renowned as the brand of choice for hospitality professionals (bartenders and baristas). With over 150 flavours across 150 countries, MONIN has sold over 100 million bottles all over the world.
(Excerpt from a release)
Press Releases on wine, spirits, beer, drinks could be sent on firstname.lastname@example.org