Meet Avneet Singh, Founder, Medusa Beverages, who started his journey at the age of 19 with his first venture of skincare products. Today, he is one of the shining businessmen of the national capital who has redefined the definition of beer with Medusa that offers the perfect combination of the best barley malt and imported hops from Germany with 5.9% alcohol strength. In a detailed chat with TMM, he talks about his success story and how the pandemic has impacted the liquor and beverage industry.
How did the idea of introducing a beer brand occur to you when there were already other established beer brands present in the market?
The idea of starting Medusa brewed in 2017 when I started a food and drinks café. As the growing demand for alcoholic beverages is mainly attributed to the huge young population base and their increasing alcohol consumption, Medusa came up with the idea to provide pocket-friendly beverages to the youth. We founded Medusa Beveragesin April 2017 and began its operations in January 2018. While the brand made a turnover of Rs 70 crore in 2018, it clocked Rs 150 crore in the upcoming years, clearly showcasing that there was a huge demand for craft beer across the country
How has been your journey as a beerpreneur so far?
So far the journey has been exciting as well as challenging at the same time but since challenges make you stronger and help you grow, I have always welcomed them. It was while studying architecture that I realised that the field wasn’t my calling. So simultaneously, when I was 19, I started ‘Bella Peau’, a skincare product brand, by investing from his personal savings and taking a seed capital of Rs 2 lakh from his father. However, the product didn’t work and I started a food and drinks café. It was during this time that I realised that there was a need for a beer brand in the market that catered to the needs of the younger crowd. So, in 2016,I managed to get a licence to start a liquor store in Delhi.
I founded Medusa Beverages in April 2017 and began its operations in January 2018. While the brand made a turnover of Rs 70 crore in 2018, it clocked Rs 150 crore in 2019 clearly showcasing that there was a huge demand for craft beer across the country and since then there has been no looking back.
What are the markets you are currently present in?
After achieving the goal of availability in 6 states Delhi, UP, Chhattisgarh, Chandigarh, Punjab, and Himachal, we are planning to add more states in near future. Apart from that, we aim for the PAN India presence.
Where do you see the brand by 2025?
Beer business in India is increasing especially post covid, the consumption will go up as disposable income will increase. The trend is shifting towards the consumption of low alco beverages over high content ones. Consumers like hard seltzer because of its lower calorie, sugar, and alcohol content. Within the alcohol group, no-alcohol wine, spirits, and beer are expected to rise the most.
You have recently launched in Himachal. Which are our prime markets?
Medusa is produced in Punjab, the brand is presently available in six states, including Delhi, UP, Punjab, Chandigarh, Chhattisgarh, and Himachal Pradesh where we launched Medusa recently. The response has been prenominal so far and I hope we continue to satisfy our consumers wherever we go.
Brief us about your brewery plant, are you planning to set up any new brewery unit?
Currently, Medusa focuses on wheat and lager beer, but will soon look to enter other markets as well. The team works on contract or lease manufacturing. We have a unit on lease, and the brewery is based out of Punjab. As of now, we are not planning to set up any brewery of our own. I believe it’s better to invest crores in brand development rather than investing in a brewery.
What are the challenges faced by you in order to successfully operate a beer brand?
To be precise, high fixed costs, cash crunch, imposed excise duty, that was to be paid in advance and inventory losses were some of the biggest challenges. The Lockdown in the summers of 2020 had hit the beer makers hard, making it difficult for them to return to normal but the sales of the beer went up as people started doing house parties. During the lockdown, many people became more health-conscious, which led them to choose low-alcohol beer.
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