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Updated on: Friday, September 03, 2021, 11:02 AM IST

Salud Beverages raises $1.1 mn; to aid expansion plans, diverse product portfolio

Prasad Vanga, Antill Ventures; actor-entrepreneur Rana Daggubati, and Salud Beverages Founder-Director Ajay Shetty | Salud Beverages

Prasad Vanga, Antill Ventures; actor-entrepreneur Rana Daggubati, and Salud Beverages Founder-Director Ajay Shetty | Salud Beverages

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Salud Beverages, an urban Lifestyle brand that was launched in Karnataka earlier this year, raised $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.

Ajay Shetty, Founder-Director, Salud Beverages said, "We 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."

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 $1,775.1 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.

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Published on: Friday, September 03, 2021, 11:02 AM IST
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