Viiking Beverages to Raise Rs 250 Crore For Setting Up Breweries; Plans IPO by 2019
VIIKING BEVARAGES, the flagship company of Viiking Ventures, recently announced the appointment of Manoj Asrani as their new CEO. Asrani is a seasoned executive with over 17 years of experience who will drive the aggressive business plans of Viiking Beverages and has a vision of increasing its markets to North East India. He speaks to BW Hotelier on how the company plans to implement systems and network in changing market dynamics.
As the new CEO of Viiking Beverages, what is your agenda for the next six months? How do you plan to take the brand to the next level?
The idea is to drive business aggressively with a vision of increasing its markets to North East India and across international markets. The year 2017 – 18 has been phenomenal for the company with a growth rate of 300% and making our presence in more than 15 states in India and about 7 countries in the World. I have been overlooking the sales and distribution area of Viiking Beverages for the past six months, as I strongly believe that the right distribution network is the key for the growth for any beverage company.
My immediate goal is to expand the product portfolio of ViikingBeverages. Our recently launched Kings Goa Maxx, the strong lager beer has seen a significant growth in its first month of being launched in Delhi by absorbing close to 10% market share. We are also in a process to increase the production capacity of Goa Kings Beer from the existing 2 million cases to 4 million cases annually. We have already launched a brewery in Jammu & Kashmir last year and are launching two more this year. We have also streamlined our distributors, both nationally and internationally, which will further help us in our growth. Our next focus market is going to be Africa and we will be entering the continent with Goa Kings Beer to begin with.
Viiking Beverages was in talks with the investors for an upcoming fundraising of about 200–250 crore to start two new breweries in India. Please tell us more about this project?
We are in the final leg of discussion with an investor to raise between Rs 200-Rs 250 crore for the expansion. Kings Beer has been in high demand and we are planning to launch two production units in India to meet the growing demand. One of the two new breweries would be in Rajasthan, and the other in the South. With this Viiking’sproduction capacity will double to 6 lakh cases in six months, from the present 3 lakh cases.
Can you share more details on Viiking IPO?
Viiking is in the process of planning the initial public offering (IPO) by the end of 2019 or early 2020 to fund our ambitious expansion plan. We have already roped in a team of financial advisors to help us strategize.
Any big agenda for the hospitality sector? When do you plan to raise enough funds and start new lounges, cafes, clubs and merchandise?
We have aggressive plans to expand our brand Playboy. We intend to launch Playboy clubs, pubs, beer gardens, etc. across multiple cities, starting with Mumbai and Pune. We intend to launch 3 Playboy clubs in the coming 8-10 months. We believe that this brand has the capability of attracting consumers at the national level and we will market it accordingly.
How is Viiking Venture engaging in technology?
Yes, we are also implementing software based selling systems, which has analytical tools to update on daily changing market dynamics. We have already strengthened our backend CRM that enables us to have a one-click view of our end-to-end business processes. The technology ensures accountability from different verticals and a seamless sharing of information and updates.
What has been the YOY growth? Tell us about the projected targets for the coming year?
As mentioned earlier we are looking to raise funds and have aggressive plans to expand our Beverages and Hospitality verticals. However, we will be able to share precise numbers once we have locked on our expansion strategy but can ensure 100x growth YOY.
