Big Brewers Buy Up Smaller Breweries To Gain Market Share: Avneet Singh, Medusa
Avneet Singh, Founder, Medusa Beverages highlights the journey, challenges and the future of the craft beer market
Born in 2018, Medusa is an India based beer company with a strategic marketing division and a contemporary packaging. The brand promotes a passionate lifestyle choice and a unique culture that needs to be preserved.
In an exclusive conversation with Everything Experiential, Avneet Singh, Founder of Medusa Beverages shared insights on his remarkable journey, challenges faced and the future of craft beer market.
Here are the excerpts.
How did your journey as a Beerpreneur start?
I began my journey as an entrepreneur with a skincare product brand called "Bella Peau". I used my personal savings to invest in the brand and received a seed capital of Rs 2 lakh from my father. Unfortunately, the skincare product didn't work out as expected, so I decided to venture into the food and drinks industry by starting a café.
During this time, in 2016, the idea for Medusa came to me. I noticed that there was a need for a beer brand that specifically appealed to the younger generation. That's when I came up with the idea of creating affordable beverages for young people. In April 2017, we established Medusa Beverages, and we officially began operations in January 2018. In the initial year, the brand achieved a turnover of Rs 70 crore.
What are the challenges and opportunities in the craft beer market?
In recent years, craft beer has become really popular. It is made using traditional methods and ingredients, and it is produced in small amounts. Craft brewers focus on making it taste great and keeping it fresh. This has created a new culture, especially among millennials, who want to try different things. Instead of drinking strong beer, they prefer flavourful and high-quality options, which is why craft beer is on the rise.
However, craft brewers like us face challenges in today's market. One problem is that there are more government rules and regulations that can slow down the industry's growth. Also, big breweries are entering the craft beer market by buying up smaller breweries that already have loyal customers.
With several beverage brands emerging, how is Medusa different?
Our beer has a 5.9 per cent alcohol content, which puts it in the category of mildly strong or premium strong. Unlike the other brands out there that are either really strong or pretty mild, our beer belongs to a completely new segment in the market, the mid-segment.
Right now, our main focus is on producing wheat and lager beer, but we have plans to expand into other markets in the future.
Where do you stand in terms of market share? Also, what are your expansion plans?
We have achieved the highest sales for beer cans in Delhi for three consecutive months, from February to April 2023, with a market share of 17 per cent. It is a fantastic way to start the year.
Currently, Medusa beer is available in seven states, including Delhi, Uttar Pradesh, Punjab, Chandigarh, Chhattisgarh, Himachal Pradesh, and Silvassa. We are also planning to expand and enter the market in Uttarakhand soon. Moreover, our goal is to have a presence across all of India in the future.
Medusa had the highest sale of cans from February to April 2023 in Delhi. Highlight some of your marketing strategies and tactics.
We have been working on social media to connect with a larger audience. We are collaborating on social media platforms to engage with more people. By doing this, we aim to increase our reach and make sure individuals see and hear about what we have to offer.
Another marketing strategy for Medusa is that instead of using traditional can packaging, we have a unique and modern design. Our brand's mascot is Medusa, inspired by the captivating character from Greek Mythology, who was later punished by Athena.
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