How Medusa Beverage is Winning Indian Millennials with Its Unique Brew and Experience

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August 26, 2023

In the dynamic landscape of emerging brands, one name stands out as a beacon of competitiveness, passion, and elegance – Medusa Beverage. Since its inception in 2018, this India-based beer company has swiftly risen to prominence, captivating the discerning palates of millennial consumers in the Indian market. A journey into the heart of the Medusa brand reveals a story that combines astute market understanding, a commitment to culture, and an unwavering dedication to excellence.

At the core of Medusa’s success lies a keen understanding of market demands. The brand emerged as a response to the call for unique tastes and flavors by Indian millennials. However, Medusa goes beyond being a mere beverage provider; it positions itself as a curator of experiences tailored to a generation that thrives on innovation.

Bridging Tradition and Modernity:

One of Medusa’s distinguishing features is its ability to seamlessly bridge the gap between tradition and modernity. Recognizing that beer is not just a drink but a passion and lifestyle choice deeply rooted in culture, the brand has strategically positioned itself as a custodian of this legacy. This ethos drives Medusa’s commitment to preserving the cultural significance of beer while infusing it with a contemporary twist.

Years of meticulous craftsmanship have resulted in a brew that embodies excellence. The careful combination of the finest barley malt and imported hops from Germany yields a harmonious blend with an alcohol strength of 5.9%. Every sip of Medusa beer becomes a symphony of flavor and quality, a testament to the brand’s dedication to its craft.

The Medusa logo draws inspiration from the eponymous character in Greek mythology. Like the cursed maiden who underwent a transformative journey, Medusa, too, embraces transformation and duality. Its business philosophy mirrors the millennial spirit – a fusion of passion, devotion, and unwavering commitment to delivering the best.

Founder’s Odyssey of Innovation:

The story of Medusa Beverage is intertwined with the journey of its Founder, Avneet Singh. Just a year shy of completing his architecture studies, Avneet embarked on a journey of entrepreneurship, leaving academia behind. In 2017, his vision took tangible form in the brewing business, giving birth to Medusa Beverages Pvt. Ltd. His audacious leap exemplifies the millennial tenacity to pursue dreams without fear.

**Avneet Singh, Founder, Medusa Beverages**

Where History Meets Modernity:

Medusa Beverage strives to encapsulate the essence of old-world flavors with a contemporary twist. The brand artfully infuses its brews with invigorating flavors rooted in Greek mythology, offering the perfect companions for any occasion. Medusa’s identity revolves around fostering a lifestyle that values the perfect brew, places a premium on quality, and promises unforgettable experiences.

Today, Medusa beer is available in about 650 retail outlets in Delhi and high-end cafes, boasting a distribution width of 90%. Its presence has grown even more widespread, currently reaching over 2000 retail outlets, with the brewery located in Punjab. Expanding its horizons, the brand has recently introduced Medusa beer in Himachal Pradesh, making its mark in popular destinations like Shimla, McLeodganj, and Manali.

The journey of Medusa Beverage from a mere idea to an emerging brand is a tapestry woven from culinary exploration, the millennial spirit, and an unwavering commitment to excellence. Through its unique positioning, strategic innovations, and infusion of culture, Medusa strikes a delicate balance between tradition and modernity. As the brand proudly proclaims, it’s all about elevating spirits with a Medusa brew – a tribute to a journey driven by passion that continues to tantalize palates and capture hearts. In a world where innovation is the currency, Medusa Beverage has truly carved its mark as a timeless contender.

Also Read: Medusa Beverages marks five-year milestone with record-breaking sales and revenue

Watch our exclusive conversation with Avneet Singh here:

Zepto secures $200 Million in Series-E Funding, becomes first unicorn of 2023 with $1.4 Billion valuation

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August 25, 2023

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Zepto, the online grocery delivery startup, has raised $200 million in its Series-E funding round. This funding has led to a company valuation of $1.4 billion, establishing it as the first unicorn of 2023.

The fundraise was led by StepStone Group, a US-based private markets investment firm, as indicated by Zepto, the startup established in the aftermath of the pandemic.

This investment also signifies StepStone Group’s initial direct involvement with an Indian company.

Furthermore, California-based consumer-focused venture capital firm Goodwater Capital entered the fray as a fresh contributor to the funding round. Worth mentioning is the fact that Zepto’s existing investors, including Nexus Venture Partners, Glade Brook Capital, Lachy Groom, and others, showcased their continued confidence in the company by significantly increasing their investments.

During 2022, Zepto secured $200 million in a Series D funding phase, spearheaded by Y Combinator’s Continuity Fund, a technology startup accelerator based in the United States. This infusion of funds valued the rapid commerce enterprise at $900 million at that time. Established in 2021 by Aadit Palicha and Kaivalya Vohra, dropouts from Stanford University, Zepto is additionally contemplating a debut on the public market within the upcoming two to three years. As of May this year, Zepto made strategic promotions among several crucial executives, aligning with its preparations for the impending listing.

Operating through a network of delivery hubs spread across the nation, Zepto efficiently brings forth a selection of over 6,000 grocery items within a mere 10-minute timeframe. This innovative approach is commonly referred to as “quick commerce.” Nevertheless, this model has faced scrutiny due to its substantial cash consumption and the absence of a viable long-term business strategy.

“This fundraise, in the midst of the deepest downturn in capital markets in over a decade, validates Zepto’s bestin-class operating discipline. Zepto has proven the quick commerce business model by turning the majority of its dark stores fully EBITDA positive. Zepto’s burn has reduced significantly, and with this trajectory, the company will be fully EBITDA positive in 12 to 15 months. More importantly, Zepto has delivered these profitability numbers while continuing to grow rapidly,” Zepto said in a statement.

The company has grown its sales by 300% year-on-year and will likely achieve $1 billion in annualized sales within the next few quarters, it said.

Aadit Palicha, Co-Founder and CEO, Zepto, said, “This business is about execution and we are succeeding because our execution is strong. Our culture of deep frugality and worshipping customers has gotten us here, but there is still so much for us to achieve. We are in this to build a generational company and it truly feels like this is just the beginning.”

The funding announcement arrives at a time when other rapid delivery platforms like Dunzo are grappling with significant financial challenges.

Kaivalya Vohra, Co-Founder and CTO, Zepto, said, “Even with this capital, we want to maintain our discipline, avoid complacency, and push hard to hit EBITDA positivity. In that journey, the biggest drivers of P&L improvement for us are based on technology and product.”

Zepto enlisted Avendus Capital as its sole advisor for the transaction.

Zomato faces 4% share drop as speculation grows on SoftBank’s stake sale

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August 25, 2023

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According to a report from CNBC-TV18, sources have indicated that Zomato’s shares experienced a decline of approximately 4 percent on Friday. This drop was attributed to concerns about a potential new wave of significant selling by specific private equity players. These players are considering selling off their holdings following the conclusion of their lock-in period subsequent to the Blinkit deal.

As per the mentioned report, Zomato’s initial investors, which include the Japanese multinational investor SoftBank, might divest their ownership in the company once their lock-in period for equity shares concludes following the Blinkit deal. The lock-in period for these investors is set to conclude on Friday, August 25th.

Zomato’s stocks experienced a decrease of approximately 4 percent, reaching INR 90.46 on Friday, before showing a minor rebound. This brought the company’s market capitalization to nearly INR 78,500 crore. In the preceding Thursday session, the stock had concluded at INR 93.79. Notably, Zomato’s shares have displayed a robust rally, surging over 110 percent from their lowest point in the past 52 weeks, which was recorded at INR 44.35 on January 25, 2023.

As of 1:10 pm on Friday, data from the National Stock Exchange (NSE) reveals that over 3.70 crore shares of Zomato, amounting to a value of INR 339 crore, were traded. Concurrently, at the same time, data indicates that 17.30 lakh equity shares valued at INR 15.8 crore changed hands on the Bombay Stock Exchange (BSE).

SoftBank holds a 3.35 percent ownership in Zomato, the food delivery aggregator. Additionally, the lock-in period for other investors such as Sequoia Capital and Tiger Global is set to conclude this week. Consequently, the shares obtained through the Blinkit deal are scheduled to become available for trading on Monday, August 28, as reported by CNBC-TV18.

In August 2022, Zomato successfully finalized the purchase of Blinkit, a rapid-commerce enterprise previously recognized as Grofers, along with its associated warehousing and supplementary services division. The company formally communicated this development via a filing with the exchange. Zomato had revealed its intentions regarding this acquisition in June 2022, subsequent to receiving approval from its board. The transaction, valued at INR 4,447 crore, was aimed at securing Blinkit.

SoftBank acquired Zomato shares at an implied value of INR 70.76 per share. Presently, the stock holds a position approximately 30 percent higher than its initial offering price, resulting in a substantial profit for SoftBank through the sale. Additionally, sources have indicated that investment banks are in the process of compiling a book to accommodate the growing interest in Zomato’s shares.

PVR INOX Director’s Cut launches new culinary lineup with Middle Eastern and Rajasthani influences

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August 25, 2023

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Over the past decade, a remarkable metamorphosis has overtaken the landscape of movie theaters. The era of mere popcorn and soda has faded into obscurity, making room for an age of cinematic grandeur. In place of the conventional silver screen setup, expansive recliners and lavish sofas now stand, offering moviegoers unsurpassed luxury and comfort. And as if this evolution weren’t awe-inspiring in itself, movie theaters have seamlessly transitioned into the realm of fine dining, completely redefining the entire cinematic experience.

Striving to offer an indulgent guest experience, PVR INOX has unveiled a fresh culinary lineup at their Director’s Cut establishment in Vasant Kunj. The extensive array of flavors has been meticulously crafted by the culinary maestros, Chef Mayank Tiwari and Chef Shiva Arora. Weaving together inspirations from Middle Eastern and Rajasthani gastronomy, these experts have orchestrated a menu that beautifully respects tradition while seamlessly weaving in touches of imaginative novelty.

Chef Mayank Tiwari, Group Executive Chef at The Luxury Collection, PVR INOX Ltd., shares his vision, “We’ve sculpted this menu with utmost precision to offer a dining experience that resonates with the unmatched luxury of PVR Director’s Cut. By marrying Middle Eastern and Rajasthani culinary traditions, our aim is to create a symphony of tastes that lingers with our guests, long after they’ve left the theatre.”

Within the menu’s Middle Eastern section, a medley of delights awaits, drawing inspiration from the rich culinary heritage of Armenia, Iran, and Morocco. Whether savoring Al Faham’s flavors or indulging in the Moroccan Chermoula Salmon, each dish embodies the essence of time-honored gastronomic mastery. Not to be overlooked, the Armenian Losh Kebab Burger further encapsulates centuries of culinary finesse.

Meanwhile, a regal charm permeates the Rajasthani offerings, characterized by robust flavors, intricate spices, and time-honored recipes. Crafted to delight cinephiles and gastronomes alike, the menu presents a lavish feast. Patrons are transported to the heart of Rajasthan’s culinary heritage as they savor dishes like the flavorful Dal Baati Churma, the nourishing Bajra Khichdi, and the indulgent Murg ke Sooley.

Whether you’re treating yourself to a meal before the movie or relishing in post-screening gastronomic pleasures, the fresh menu at PVR Director’s Cut guarantees an unmatched experience.

Reliance partners with Oberoi Hotels to elevate luxury hospitality across India and the UK

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August 25, 2023

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Reliance Industries, on Thursday, unveiled a partnership with The Oberoi Hotels and Resorts (Oberoi) to collaboratively oversee the operations of three properties spanning across India and the UK.

The trio of establishments comprises the soon-to-be-launched Anant Vilas Hotel, located within Mumbai’s Bandra Kurla Complex (BKC), the renowned Stoke Park in the UK, and an additional upcoming project in Gujarat.

Oberoi Hotels was voted the World’s Best Hotel Brand at the Travel + Leisure, USA World’s Best Awards, 2022.

Anant Vilas stands as the inaugural metro-centric addition to Oberoi’s renowned luxury ‘Vilas’ portfolio. Situated within Mumbai’s vibrant Bandra Kurla Complex, this property finds its place in a thriving business hub that is rapidly evolving into a diverse amalgamation of commerce, hospitality, retail, dining, artistic expression, education, residential spaces, and a bustling gathering point for both locals and visitors.

Anant Vilas aims to enhance the hotel presence within the business district by offering a truly iconic experience tailored to discerning visitors.

In the same vein, Stoke Park Limited, a subsidiary under Reliance Industries Limited’s umbrella, possesses sports and recreational amenities nestled in Stoke Poges, Buckinghamshire. These amenities encompass a hotel, sports facilities, and one of the top-rated golf courses in Europe.

Oberoi will collaborate with RIL to enhance the amenities, transforming it into an iconic, globally renowned destination that promises an unparalleled guest experience. Plans are currently in the works for a comprehensive upgrade of Stoke Park, encompassing enhancements to golf and other sporting facilities.

Conceived as an additional iconic hotel venture aimed at boosting tourism potential within the state of Gujarat, the project, which remains unnamed at this stage, is currently in the process of being realized.

Oberoi boasts an unmatched history of delivering exceptional customer service on a global scale within the hospitality industry. Their portfolio includes a number of palaces and historical sites that have been revitalized while safeguarding the distinctive essence and original intent of these properties.

Taco Bell franchisee DRG set to open new Cantina location in San Jose, offering unique dining experience with alcoholic beverages

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August 25, 2023

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DRG (Diversified Restaurant Group), a well-known major franchisee of Taco Bell, boasting a collection of 325 establishments, is on the verge of opening its seventh Taco Bell Cantina location.

This distinct fast casual variation of the brand, celebrated for its inclusion of alcoholic beverages, is all set for its debut in San Jose, California. The specific location is within Westfield Oakridge Mall, precisely situated at 925 Blossom Hill Rd., Suite 1641.

The location presents a nostalgic facade, embellished with a timeless movie theater exhibit. It encompasses three self-service ordering kiosks, a user-friendly pick-up window, and an outdoor seating zone with a capacity to accommodate up to 24 guests.

Providing this insight was SG Ellison, fulfilling dual roles as a Taco Bell franchise proprietor and the CEO of Diversified Restaurant Group.

He expressed in an official company statement, “The recent introduction of the Taco Bell Cantina in San Jose brings valuable enhancement to the local neighborhood, presenting customers with heightened comfort and options to enjoy meals within the premises, place delivery orders, or swiftly retrieve takeout requests.”

He additionally highlighted the distinct allure of this establishment, emphasizing that visitors can effortlessly indulge in the delights of Taco Bell along with Twisted Freeze beverages, either before or after shopping or enjoying a new movie at the remarkable Century Theatre nestled within the Westfield Oakridge Mall.

Across the United States, there are currently over 30 operational Taco Bell Cantina locations.

Mars targets health-conscious consumers with new high-protein, low-sugar snickers bars

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August 25, 2023

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Mars Chocolate Drinks & Treats is broadening its selection of protein-infused items by introducing the Snickers Hi Protein Low Sugar and Snickers Hi Protein Low Sugar White variants.

The company’s intention behind this release is to make a substantial impact on the market presence of Mars’ Snickers brand within the protein bar industry. This market segment is currently valued at £151.7 million in the UK, as indicated by data from Total Market and Convenience.

Crafted to deliver the well-known essence of Snickers with its blend of peanut, nougat, and caramel, the Snickers Hi Protein Low Sugar and Snickers Hi Protein Low Sugar White versions come in a fresh, reduced-sugar configuration. These bars have calorie counts of 217 and 218 calories respectively. Each bar contains a generous 20g portion of protein and a mere 2g of sugar.

Michelle Forest, general manager at Mars Chocolate Drinks & Treats, said, “Although the protein bar market is growing, take home penetration figures over the past 12 months show a relatively flat scenario at an average of 5.1%. Even with notable launches to the market, they have not attracted significant numbers of new consumers.”

“We believe that with our world-renowned trusted Snickers brand … we have the potential to significantly drive category penetration across both major multiples and impulse channels.”

Starting from November of this year, both bars will be accessible at Asda, and they will also be distributed through wholesale and convenience channels starting from August. The recommended selling price (RSP) for these bars is set at £2.79.

UK supermarket Asda initiates new round of price reductions amidst ongoing food inflation decline

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August 25, 2023

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On Thursday, Asda, a British supermarket, joined the ranks of its competitors, Ocado Retail and Sainsbury’s, in revealing a new series of price reductions. This further contributes to the ongoing decline in the trajectory of food inflation in the UK.

As the cost-of-living crisis persists into its second year, the focus on grocery prices continues to remain intense for Britons.

Announcing a reduction in prices, Asda, the third largest grocery chain in the UK, revealed that it has lowered the costs of 425 products, both branded and own-label, including items like diapers, bread, cereals, and sausages. On average, these price cuts amount to 11%.

This action is incurring a cost of 23 million pounds ($29 million), according to the company’s statement.

On Wednesday, both Ocado Retail and Sainsbury’s disclosed reductions in prices.

In March, food price inflation in the UK surged to its highest level since 1977, surpassing 19%. However, this official metric gradually eased to 14.9% by July. Despite industry data indicating a decrease to 12.7% in August, the persistent increase in food prices continues to exert significant financial pressure on numerous households.

Subway franchise acquired by Roark Capital in a whopping $9.55 Billion deal

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August 25, 2023

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The well-known sandwich franchise, Subway, has recently been acquired by the private equity firm Roark Capital in a transaction amounting to $9.55 billion. This acquisition marks the conclusion of an extensive auction process characterized by numerous competing offers. The agreement also includes specific terms that involve the postponement of payment for a portion of the total transaction value.

Established in 1965, Subway remains under the ownership of its original founding families. Throughout its history, it has evolved into one of the globe’s most expansive restaurant franchises, boasting a presence of 37,000 establishments across over 100 nations. As reported by Reuters and sourced from insiders, the company has affixed specific requirements to a portion of the substantial sum that will accrue to the two owning families.

The agreement carried an appraisal of $8.95 billion, not factoring in the earn-out target. To trigger the complete payment, Subway’s cash flow must achieve specific milestones within a predetermined timeframe following the conclusion of the transaction.

A press note from the sandwich maker said that the deal would combine the chain’s “global presence and brand strength with Roark’s deep expertise in restaurant and franchise business models”.

With approximately $37 billion in assets under its management, the private equity company specializes in managing franchised enterprises. Its portfolio encompasses various restaurant franchises such as Arby’s, Dunkin’, and Buffalo Wild Wings.

AB InBev India reports 30% surge in H1 2023 sales, eyes continued growth in premium beer market

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August 25, 2023

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Anheuser-Busch InBev (AB InBev) India has registered a 30 percent upsurge in sales during the initial half of 2023, accompanied by positive growth in specific markets. Kartikeya Sharma, the President of AB InBev India, anticipates this favorable momentum to persist throughout the latter half of the year.

Being a prominent contender within the premium and super premium beer sector, the company boasts renowned brands like Budweiser, Hoegaarden, and Corona. Notably, it has recorded a growth increase of 200-300 basis points in major markets like Karnataka, Maharashtra, Uttar Pradesh, Haryana, and West Bengal, according to his statement.

“The beer industry grew 20 per cent from January to June 2023… We grew ahead of the industry by almost 50 per cent. So our growth was closer to 30 per cent, said Sharma in a media roundtable here.”

Nonetheless, there are certain challenges emerging from the urban market, where demand is experiencing a slight decline in urban centers. Despite this, Sharma remains optimistic about sustaining the current growth rate.

The challenge is for us to see how in H2 we are going to sustain and expand the share gains but in H1, we were been very satisfied with the numbers, said Sharma.

Within its top 10 priority markets, AB InBev envisions narrowing the difference between its position and the leading market competitor to a range of two to three percentage points.

In a lot of our focus markets, we actually see the gap close to the market leader and in some cases, we have become a market leader, he added.

Regarding consumption trends, following the Covid pandemic, there was an elongation of the peak in the premium segment. However, during the last two months, urban centers have been deviating from this trend, as the peak in demand is diminishing.

“The growth rates in the post-peak period have not tapered off quite dramatically due to the peak period. And subsequently within that, in these urban centres premium actually sees almost peak level growth and therefore our positioning in the premium has allowed us to share gain in H2,” Sharma said.

Dominating the Indian beer market is United Breweries Ltd (UBL), a company under the ownership of the Dutch brewing powerhouse, Heineken.

AB InBev’s super premium brands Corona and Hoegaarden, Sharma said, contributing in high single digits of the total sales here. “Together with Budweiser, Corona and Hoegaarden contribute 58 per cent of the total volume,” he said and rest 42 per cent comes from entry-level beers such as Haywards, Royal Challenge, Knockout and Indus Pride. The mainstream entry-level beer contributes to 35 per cent of the value.

Last year, AB InBev made its foray into the Indian whisky market, introducing brands like Budweiser Magnum Double Barrel and D’YAVOL INCEPTION.

Over sales of Whiskey, Sharma added, “It is difficult to put a number on that because it is very early days. We are at three to four markets and 2,000 to 3,000 worth of points of sale in terms of distribution.”

During 2023, the company also unveiled three Gin variants as an expansion of its Hoegaarden brand in this category, along with the introduction of Seven Rivers Spiced Rum.

AB InBev ventured into the Indian market in 2008 with the introduction of Budweiser through a joint venture. Over the course of 15 years, India has ascended to the position of being the fourth-largest market for Budweiser on a global scale.

Within its Budweiser portfolio, AB InBev uniquely offers beer, whiskey, and energy drinks only in the Indian market.

Regarding inflation, Sharma mentioned that there hasn’t been any noticeable impact, as the company chose not to transfer the effects to consumers. Instead, they opted to manage the situation by tightening their profit margins, all while maintaining their growth trajectory.

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Bridging Tradition and Modernity:

Founder’s Odyssey of Innovation:

Where History Meets Modernity:

Watch our exclusive conversation with Avneet Singh here: