Salud, a lifestyle beverage brand, launched its newest gin offering as part of its continued product and market expansion. Ajay Shetty, the CEO of the company, has outlined their plans to focus on expanding their presence to 12–18 states across the country and venturing into four new international markets in the next 2-3 years.
Currently, Salud exports its products to three overseas markets and has established a presence in five states domestically.
It offers products in the spirit-based ready-to-drink (RTD) category and has six SKUs in this segment. The brand will be launching three more this year. In addition, it will also release pure spirit products, but in small batches.
Recently, the company announced an investment of $1.5 million to facilitate its expansion plans and cater to the increasing demand for convenient and high-quality alcoholic beverages within the Indian alcoholic beverage market. Presently, the company operates a bottling facility in Goa with a capacity of 3.5-4 million litres, primarily catering to Ready-to-Drink (RTD) beverages.
Additionally, the company is ambitiously pursuing expansion and intends to establish a wholly-owned manufacturing plant in Goa, Shetty told businessline. “This endeavour will necessitate additional funds. In the next three months, we aim to raise additional funds, targeting an amount twice the sum it had previously raised,” he added.
To date, the company has successfully secured approximately $2 million in funding from various investors, such as Anthill Ventures and several high-net-worth individuals.
Speaking about the latest addition to its product offering, the CEO said that the drink will be manufactured by the company in the UK, where it has a joint venture with a local distillery, Spirit of Manchester, a boutique distillery in Manchester City. According to the company, since the focus will remain on its ready-to-drink segment, which caters to a broader segment of the audience, it will introduce pure spirit-based products occasionally and in small, limited batches.
The limited-edition collection of 600 bottles of Salud Cusp London Dry Gin will be initially launched in Goa, and then in Karnataka. The alcohol has a 42 per cent ABV and will be available in a volume of 700 ml, for ₹3450 in Goa and ₹4950 in Bengaluru.
Currently, it is exporting to the Middle East, focusing on the UAE first. “We have 11 market deals there, and are adding three in Southeast Asia and in the process of finalising the terms, said Shetty.
The company established in 2020, claims to have generated a turnover of approx. $1-1.5 million in FY23. As of now, its products are available in around 1,800 retail outlets across 3-4 states. The RTD alcohol market in the country is poised for substantial growth, projected at a CAGR of 11.2 per cent during 2022-2030, the company said.