Allied Blenders and Distillers Limited (ABDL), India’s third-largest spirits company, announced a new business venture with Bollywood actor Ranveer Singh today. The partnership aims to create a portfolio of premium and luxury spirit brands.
The shares of Allied Blenders and Distillers Limited (ABDL) were trading at ₹354 up by ₹4.45 or 1.27 per cent on the NSE today at 10.10 am.
ABDL’s board approved the formation of this new entity on September 4, 2024. Ranveer Singh will serve as an equity partner, as well as a business and creative partner in the venture. The collaboration seeks to blend world-class products with Indian flavours, targeting India’s growing luxury spirits market.
Alok Gupta, Managing Director of ABDL, said, “This new venture, with a major impact personality like Ranveer Singh, represents our commitment to bringing together simply the best. With him as our business partner and a creative mentor, we are confident that our luxury products will resonate with consumers.”
The new entity plans to launch its own brands, partner with Indian start-ups, collaborate with international brands, and utilize ABDL’s sales and manufacturing networks. This strategic move comes as Indian consumers increasingly trend towards premium alcoholic beverages.
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Published on September 5, 2024
https://www.thehindubusinessline.com/markets/stock-markets/allied-blenders-and-distillers-partner-with-bollywood-star-ranveer-singh-for-premium-spirits-venture/article68608188.ece
