The startup is a partnership venture that was registered in 2021
Cartel & Bros has leased out a factory in Scotland
India has overtaken France with a 60% surge in the imports of alcohol-based drinks in 2022
Bollywood actor Sanjay Dutt has joined the growing list of actors who have turned investors by investing in startups. Dutt has invested an undisclosed amount in an alcobev startup Cartel & Bros. The startup is aiming to import and retail a portfolio of liquor brands into India, said executives at the newly-founded company.
Cartel & Bros is a partnership venture registered in 2021. Manish Sani of Living Liquidz, Jittin Merani of Drinq Barmen & Academy and Rohan Nihalani of Morgan Beverages are the other investors of the startup, ET reported.
The report states that Cartel & Bros has set up a factory in Scotland and the startup will price the products in a manner that makes those accessible to a larger number of people.
Commenting on the pricing, Sani said, “Yes it is a regulated market, but regulations exist in every business. India is a young country where consumers are willing to experiment.”
The development comes when India is rising as one of the fastest growing alcobev markets. The country has surpassed France in the race with a 60% surge in the imports of alcohol-based drinks in 2022, reveals Scotch Whisky Association (SWA) data.
It is not new for Indian actors and sports personalities to invest in startups. Earlier also, the Indian startup ecosystem witnessed many such instances.
In May, former Indian cricketer Sachin Tendulkar invested an undisclosed amount in Hyderabad-based AZAD Engineering which offers technology solutions for global OEMs in the clean energy, aerospace, defence, oil & gas, and SPS industries.
In April, Akshay Kumar and Virender Sehwag invested an undisclosed amount in Two Brothers Organic Farm. In addition, Akshay Kumar was also reported to join the men’s personal care industry with The Good Glamm Group. As part of the deal, both Kumar and the startup would launch a D2C personal care brand for men, and invest capital and will work together to scale the business.
Also, in March this year, actress Samantha Prabhu invested an undisclosed amount in D2C superfoods startup Nourish You.