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“We are looking to Invest across brewing bars, distribution and setting up the right kind of infrastructure to bring in certain discipline into the market in terms and hoping to create a big business,” said Siddharth Rastogi, CEO of BrewDog India that will open its first door in Mumbai this month.
Initially, it will launch 22 tap beers and three commercial ones, including its flagship brand Punk IPA and a wheat beer brewed specifically for the country. However, these will be imported for the first few months and hence will carry a 10% higher price tag than rival imported brands such as Hoegaarden.
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The move is part of the brewer’s wider strategy to grow its global network from 100 bars now to 750 bars by 2024. Founded in 2007 and partly owned by private equity firm TSG Consumer Partners, BrewDog is also the world’s biggest crowdfunded firm.
Globally it offers fans and tipplers an opportunity to buy shares in the company, and has 135,000 shareholders, or ‘Equity Punks’. The model that can be introduced in India too, the company said.
“India has a young population, low penetration of alcohol in terms of drinking population and you have the craft beer revolution which is starting to take shape,” Rastogi said. “This is how craft beer scene exploded in the US two decades ago when there were only 300 breweries-…which has expanded to 8,500 breweries now.”
From just two craft microbreweries about 10 years ago, India is now home to more than 170 outlets stranow, mostly located in Bengaluru, Gurgaon, Mumbai and Pune.
This has helped the overall beer industry grow and has triggered a wave of new craft beer brand launches from labels such as Bira, White Rhino and Simba that count on a younger clientele seeking a more varied experience.
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