The ready-to-drink beverage startup plans to invest $1.5 million in its expansion plans
Alco-bev brand Salud Beverages has announced its plans for expansion in 10 new Indian markets along with the upcoming launch of new products in the spirit-based Ready-to-Drink (RTD) category. The company is set to introduce its premium gin and Salud bitters to the Indian market next month.
India's RTD alcohol market is projected to grow at an 11.2 per cent CAGR from 2022-2030. It has become increasingly popular among Gen-Z and millennials, who seek more convenient and healthy drink options that are low in sugar.
Salud delivered 25,000 to 30,000 cases to the RTD market in the last fiscal year. Building on this success, it plans to invest $1.5 million to fuel growth in the alco-beverage market further. Moreover, the brand is expanding its product range by introducing three stock-keeping units (SKUs) based on distinct spirits, catering to a broader range of consumer preferences.
The brand aims to establish a strong presence in key regions across India, including Karnataka, Goa, Telangana, Maharashtra, Orissa, Pondicherry, Kerala, Punjab, Uttar Pradesh, and Chandigarh. By targeting smaller and larger states, it wants to cater to a diverse range of consumers, offering its fashionable lifestyle and premium products to a wide audience.
Ajay Shetty, CEO of Salud Beverages, said, "Our fashion-forward brand combines tradition and modernity, delivering exceptional drinking experiences. As we expand, our sole focus is the Indian market, where we aim to source and produce everything locally."
Salud has established a distillery facility in Goa that incorporates canning technology, enabling it to introduce recyclable cans for its products. By prioritising cans over bottles, it is committed to environmental conservation by taking sustainable packaging seriously.
The Bengaluru-based start-up also claims to be the first Indian brand to incorporate Non-fungible Tokens (NFTs) to offer an immersive experience to its customers. Besides its RTDs and non-alcoholic bitters, its Salud Merchandise is an exclusive line of clothing, while its music IP Salud Sessions holds exclusive tracks by various homegrown and international artists. Both these business divisions will launch new collections soon.
In September 2021, Salud Beverages raised $1.1 million from investors, including actor Rana Daggubati, former managing director of Microsoft India Srinivas Koppolu, and Anthill Ventures.
Earlier this year, global venture capital firm Anthill Ventures launched Anthill Spirits, a speed-scaling accelerator programme dedicated to supporting early-stage alco-bev start-ups. It aimed at providing funding and market access to entrepreneurs in India’s rapidly growing alco-bev industry, which is estimated to be around $50 billion by 2023.