Mount Everest Breweries aims to produce 1 crore cases of beer per year by 2025
During FY23, the company achieved sales of over 75 lakh cases, a 79.04% increase from the previous sales of 41 lakh cases during FY22
image for illustrative purpose
Vedant Kedia, Chief Growth Officer at Mount Everest Breweries Ltd. (MEBL), assumed the role in 2021, spearheading marketing initiatives to engage customers and propel business expansion. Vedant's meticulous attention to detail and authentic passion for storytelling are invaluable in shaping STOK as a beer brand that epitomizes the essence of relaxation and enjoyment.
In a candid interview with Bizz Buzz, Vedant elaborates on how STOK's fundamental philosophy revolves around the concept of ‘Living the Chill,’ offering a lifestyle that fosters relaxation and happiness. Mirroring its vibrant, carefree, and approachable persona, STOK aspires to be synonymous with moments of joy and camaraderie, much like the endearing traits of a Panda. There are different consumer personalities that are synonymous with the type of beer they consume
How are your beer offerings different from those in the marketplace?
We like to differentiate ourselves from other brands in the market with our unique packaging, design and appeal. While other beer brands in the market stand for energy, boldness and adventure, our core philosophy revolves around offering a lifestyle that promotes relaxation and chill. We believe that our consumers should be able to take some time for themselves and not be bothered by the hustle and bustle of life, like a panda. The goal is to create a ‘chilled community’ of beer lovers who wish to leave the world behind and enjoy the moment. We offer three variants of beer which are available in the market. These are STOK Strong, STOK Lager and STOK Wheat.
STOK Strong: This bold yet smooth beer boasts a shiny golden colour and a delightful hint of spice that adds a subtly bitter taste to the brew. It’s a perfect choice for those seeking a robust and flavourful brew.
STOK Lager: Experience a mildly bitter textured brew that strikes an impeccable balance between spiciness and fruitiness. It delivers a refreshing taste that is sure to please beer enthusiasts seeking relaxation and chill.
STOK Wheat: Indulge in creamy textures with a touch of sweetness and citrus. This beer offers a delightful, sweet, and tangy finish that is both satisfying and refreshing for beer connoisseurs looking for a specific taste of witbier.
What is your overall production of beer at Mount Everest?
Mount Everest Breweries has a production capacity of 1.5 million hectolitres, which is equal to 20 million cases per year. The company sold over 75 lakh cases during FY23. It includes the sales for various proprietary brands Mount Everest Breweries has under its wing, including LeMount, Mount’s 6000, Dabang beer and STOK. Our goal is to achieve 1 crore number of cases by 2025. According to a report by the IMARC Group, the Indian beer market size reached Rs 414.7 billion in 2023 and is expected to reach Rs 781.2 billion by 2032, exhibiting a growth rate (CAGR) of 7.1 per cent during 2024-2032.
Are your brands available pan India?
STOK has a significant presence in eight states across India, including Delhi, Assam, Madhya Pradesh, Uttar Pradesh, Kerala, Meghalaya, Tripura and West Bengal with its strongest traction in Delhi and Assam. Further, STOK has set its sights on metropolitan cities and state capitals for expansion, aiming to reach beer enthusiasts nationwide. The brand will start selling beer in the states of Maharashtra, Karnataka, Telangana and Tamil Nadu this year.
What are your sales projections for the next three years?
We have seen exponential growth in terms of beer sales over the years. During FY23, Mount Everest Breweries achieved sales of over 75 lakh cases, a 79.04 per cent increase in sales from the previous sales of 41 lakh cases during FY22. STOK has also seen a tremendous growth of 420 per cent, achieving 4.42 lakh cases during FY23. Looking ahead we will be targeting sales of 1 crore cases for MEBL and 20 lakh cases for STOK over the next 3 years.
How would you describe the demand for beer?
The consumption patterns in India vary across regions and demographics. However, there has been a noticeable increased demand for craft beer, especially among urban millennials and the emerging middle class. In 2024, the Beer market in India is projected to generate revenue of $12 billion. This growth is fuelled by an escalating preference for flavoured alcoholic beverages and a concurrent increase in disposable income among consumers. We can expect an 8-10 per cent overall beer volume growth.
Is the demand for strong beer waning in India?
No. On the contrary, it is increasing as more consumers enter the market. India has a young population that will enter the drinking age. The demand for mild beer is also expected to grow due to lower alcoholic beverages gaining more popularity among consumers in recent times.
Which states do you foresee good demand for beer?
We can expect an increase in the demand for beer in southern India, particularly in the states of Karnataka, Telangana, Tamil Nadu and Maharashtra.
What promotions would you be using to grow your brands?
Our goal is not to increase sales but to drive brand growth. Our goal is to build consumer trust. We want people to think of STOK when they want to relax and chill. We aim to achieve this by engaging with our consumers more. We launched STOK’s YouTube IP in December and have since been uploading content with leading standup comedians to engage with our consumers. The channel serves as a home for discovering outstanding comic talent under the banner of Laughter Brewery, aimed at spreading a stress-free lifestyle through humour, joy, and shared experiences for the GenZ.
The opening series featured influential comic artists like Anirban Dasgupta, Karunesh Talwar and Siddharth Shetty among others. The channel’s programming will extend to over 50 artists throughout the year, and go beyond YouTube with laughter-infused live events designed to light up the audience and to drive cross-platform participation.
What are the challenges of selling beer in the Indian market?
The task of selling beer in India comes with its share of limitations and challenges. The consumption patterns in India vary across regions and demographics. So, it can be a perplexing task to research which segment of the alcohol industry performs better in which state, along with the age group more involved. You also need to consider which flavour or variant suits the consumers more in that particular area. Other than that, every state in India has different laws for alcoholic beverages, which slows down the transportation of alcohol from one state to another and disrupts the supply chain. Also, direct advertising for alcohol brands is banned in India, so brands have to resort to social media for marketing and advertising.
