Plant-based milk startup, Alt Co., plans to expand its retail presence to more than 2,500 stores in the next six months.
Basan Patil, co-founder, Alt Co told BusinessLine that along with expanding its product line, and retail presence, it will also enter the overseas market, with the Middle East as its first destination by the first quarter of FY23.
“We currently have a presence in over 300 retail stores such as Reliance, Natures Basket, and will now increase it to more than 2,500 stores,” said the founder.
For its product line, he said “our range of flavored milk will be launched in less than a month.” The brand will launch 25-30 products under more than five categories by January 2023, with some key products such as - a proprietary liquid egg, almond milk, proprietary milk.
Channels of business
The startup’s retail business is marginally stronger, the ratio of the sales from our retail, e-commerce, and B2B is 40:30:30, respectively, the company added. At present, the business-to-business (B2B) operations are in Goa, Pune, Bangalore Delhi, Hyderabad, and Mumbai. . The brand has three channels of operation – Retail, B2B, and e-commerce.
Other than the Tier one cities, Tier-two cities have also shown strong interest in the brand’s products. However, the distribution has not begun yet, said the co-founder.
Alt Co. has tied up with around six major coffee shops in the country, with its products being sold in major coffee outlets like Third Wave. “This has helped us to build a strong B2B segment market,” said Patil.
“Immediately after we launch all these products, which would be somewhere around the first quarter of next year, we will be raising funds to scale up.” The company wants to raise funds, for rapid expansion.
In its last funding round, Alt Co. raised over $1 millionfrom major investors including Prashant Prakash, Nikhil Kamath, Abhijeet Pai, Neelesh Bhatnagar amongst others.
The price of 100 ml of Alt Co.’s oat milk is ₹299. Other brands selling oat milk include Epigamia, Sofit, So Good, and Raw Pressery.