BrewDog, UK's premium craft beer label, has decided to push through with their plans to open five new bars in India, James Watt Chief Executive Officer (CEO) of Brewdog said on Linkedin, with the Mumbai branch in Kamala Mills being the first. The company is valued at about $2 billion.
"We are about six weeks away from a construction and staff training perspective," said Siddharth Rastogi, CEO of BrewDog India, adding that it was mindful of the evolving COVID-19 situation and would open only when absolutely safe to open. Majority of its outlets in Pune, Mumbai, Gurugram, and Bengaluru are due to open between September and November, implementing all required government regulations and guidelines for reopening.
The new bars will have both indoor and outdoor spaces, with visible signages for social distancing and ample space to maintain distance with one and another. These outlets will also feature BrewDog's signature brews on tap along with local brews. It will feature the company's craft spirits range of gins, vodka, rums, and whiskeys from BrewDog Distilling Company, Rastogi said via email.
Being privately owned, BrewDog raises its funding through a system called "Equity for Punks", where interested investors can sign up on their website and contribute for a stake. In the last year alone, over 47,000 people contributed to Brewdog and raised £8.7 million for the business. These funds from punk shareholders have allowed the company to scale-out without getting acquired. In 2019, they were ranked as the 19th most valuable beer brand in the world by Brand Finance. BrewDog was the only independent craft label on that list.
"We are all about taking the craft industry forward and that doesn't change in India either," said Rastogi, adding that the company was looking forward to collaborating with local breweries as done in other countries. According to him, the company’s commitment to India investment stays strong and it is ready when business picks up. The new outlets will join BrewDog's portfolio of 102 bars they have globally.
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