Feel like having a refreshing cocktail after a long day at work? But don’t wish to drive all the way to the nearby pub. No sweat. Cocktail mixes from Pune-based Greenways Foods and Beverages plan to hit the social circuit – at home.
The company recently unleashed a series of flavours with the intention of building the cocktail mixes category in India, under its Lounge Mix brand. Except for a couple of international brands, the category is almost vacant with no Indian branded players in the segment.
Sachin Chopda, Managing Director, Greenways Foods and Beverages, said, “There is no player in the ready-to-drink cocktail mix category. We have marked an investment of Rs 11 crore to build and market the brand. We are approaching liquor companies to distribute the brand.”
The beverage company recently concluded a deal with Diageo for Smirnoff (vodka brand), where it distributed some of its basic mixes. With flavours such as Caipirinha, Sex on the beach, Cosmopolitan, Mojito and Margarita, the company intends increasing the number to 27 flavours (from the existing 9). It has also set up a distribution company in Poland to distribute and globally market the Lounge Mix brand across Europe.
“We are taking our brand to bars, hotels, supermarkets, lounges and even airlines,” added Chopda. Lounge Mix is priced at Rs 75 for a can.
Tapping into the mass premium segment in beverages, Greenways is also taking a second shot at the energy drink segment with its brand ‘I can’. “We have modified the energy drink brand and made it fruit based as there was ambiguity in Government rules regarding the energy drink segment due to its caffeine content,” Chopda said.
Reaching out to nearly 30 cities, Greenways is yet to build adequate scale in its operations before going public. “We would be looking at private equity players to raise money in the future rather than go for an IPO, as we have yet to build scale. We are looking at leveraging our brands to attract private equity players,” said Chopda.