Salud, a renowned lifestyle beverage brand, has recently unveiled its latest addition to its gin collection, marking another significant step in the company’s ongoing journey of product diversification and market expansion. Ajay Shetty, the esteemed CEO of Salud, has outlined an ambitious roadmap for the future, highlighting their strategic objective of establishing a robust presence in 12–18 states nationwide. Furthermore, they aspire to embark on exciting ventures into four untapped international markets within the next 2-3 years.
Presently, Salud distributes its products to three international markets and has successfully established its presence in five states within the country.
Salud specializes in the spirit-based ready-to-drink (RTD) category, offering a range of six SKUs in this segment. Furthermore, the brand plans to introduce three additional SKUs later this year. Additionally, Salud will venture into producing small-batch pure spirit products.
In light of the growing demand for convenient and high-quality alcoholic beverages in the Indian market, Salud has recently revealed a $1.5 million investment to support its expansion initiatives. Currently, the company runs a bottling facility in Goa, boasting a capacity of 3.5-4 million liters. This facility primarily focuses on the production of Ready-to-Drink (RTD) beverages, aiming to meet the market’s needs effectively.
Shetty disclosed that Salud is eagerly pursuing expansion and has concrete plans to establish a manufacturing plant in Goa, which will be wholly owned by the company.
“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.
Regarding the company’s newest product offering, the CEO stated that the beverage would be produced in the United Kingdom through a collaboration with a local distillery called Spirit of Manchester. This boutique distillery, located in Manchester City, will join forces with the company as part of a joint venture. Emphasizing the company’s commitment to its ready-to-drink segment, which appeals to a wide range of consumers, the CEO mentioned that occasional releases of pure spirit-based products would be introduced in small, limited batches.
The exclusive series of 600 bottles of Salud Cusp London Dry Gin will have its initial release in Goa, followed by Karnataka. This alcoholic beverage boasts a 42 percent alcohol by volume (ABV) and will be offered in a 700 ml volume. In Goa, it will be priced at INR 3450, while in Bengaluru, it will be available for INR 4950.
Presently, the export operations are primarily targeting the Middle East, with a particular emphasis on the United Arab Emirates (UAE). Shetty mentioned that they currently have 11 market deals established in the UAE and are in the final stages of negotiating terms for three additional deals in Southeast Asia.
Since its establishment in 2020, the company has reported a turnover of approximately $1-1.5 million in the fiscal year 2023. Currently, their products are accessible in approximately 1,800 retail outlets spanning across 3-4 states. According to the company, the ready-to-drink (RTD) alcohol market in the country is expected to experience significant growth, with a projected compound annual growth rate (CAGR) of 11.2% from 2022 to 2030.
