Bira 91: Founder Ankur Jain, Taproom, Product

Bira91: About the Company

Indian-born Bira 91 is a vibrant, progressive beer brand that was founded in 2015. With strong support from Kirin Holding of Japan, Sofina of Belgium, and Sequoia Capital India, Bira 91 is led by more than 600 fervent beer connoisseurs. Bira 91 has two taprooms in Bengaluru and Delhi NCR, where they serve a unique selection of award-winning beers that are meant to provide taste and liveliness to any event. These taprooms provide as gathering places for customers to sample the brand’s weekly experimental brews, which are skillfully matched with a delectable curry-shop cuisine. The business is leading the charge to redefine beer culture in India with its daring IPAs overflowing with tropical scents and inventive lagers flavored with regional flavors.

The AHA Moment

While living in New York, Ankur Jain, the founder of Bira, co-founded a health management startup called Reliant MD. His office was conveniently close to Brooklyn Brewery, a notable craft beer establishment in the US. Jain’s affinity for craft beer blossomed as he frequented the brewery every Saturday afternoon. Upon returning to India, Jain observed the lack of craft beer options in the market. Recognizing the burgeoning potential of India’s beer industry, he made the strategic decision to pivot towards establishing a beer business.

From Flanders’ Craft to India’s Heart: Bira’s Brewing Revolution

The company initially established its first brewery unit in the Flanders region of Belgium, utilizing a craft distillery for contract manufacturing of the beer. Ingredients were sourced from various regions including France, Belgium, the Himalayas, and Bavarian Farms, with the finished product imported to India. Following the initial success, the company transitioned to manufacturing the beer in India, maintaining the same high-quality ingredients sourced from diverse regions.

Fresh Beer from the Tap

Ankur made one of these imported beers available on tap across 10 bars and restaurants in Delhi and there was a 25 times jump in sales volumes.

The sudden spike in sales volumes can be attributed to several factors:

• Freshness and Authenticity: Serving the beer on tap provides customers with a fresher and more authentic drinking experience compared to bottled beer. The direct dispensing from the tap preserves the beer’s flavor and aroma, enhancing its appeal to consumers.
• Cost Advantage: On-tap beer is typically cheaper than bottled beer, as the cost associated with packaging and distribution is reduced. This affordability makes it an attractive option for both consumers and businesses, contributing to increased sales volumes.
• Enhanced Visibility: By offering the beer on-tap, it becomes more visible to customers as it is prominently displayed in bars and restaurants. This increased visibility can lead to higher customer interest and impulse purchases, driving up sales.

Journey from Importer to Brewer

By May 2014, Ankur Jain transformed from being an importer and distributor to a manufacturer. He, however, chose to import his brew from Belgium.

He also raised seed funding from his friends from college and collected $1 million from 6 of them to expand the business and launch his own bottled craft beer.

In 2015 Ankur rebranded it under the name of Bira91.

Bira 91 Beer Variants: Product Portfolio

Bira 91 offers a diverse range of beers catering to various tastes and preferences:

1. Bira 91 White: A classic wheat beer with 4% ABV, boasting citrus and coriander aromas for a refreshing experience.
2. Bira 91 Blonde: An extra hoppy craft lager with 4.9% ABV, delivering a crisp taste profile with a slight bitterness and premium barley and Saaz hops.
3. Bira 91 Light: A low-calorie lunchtime lager introduced in June 2017, offering guilt-free indulgence without compromising on flavor.
4. Bira 91 Strong: A robust wheat beer with 7% ABV, catering to those seeking a more potent brew without sacrificing quality or flavor.
5. Bira 91 Indian Pale Ale (IPA): India’s first locally brewed and bottled IPA, introduced in October 2017, offering a perfect balance of hops and malt for a unique flavor profile appealing to IPA enthusiasts and newcomers alike.

Brewing Success Through Innovative Marketing Strategies

Bira 91 quickly gained popularity in India due to its unique taste, which offered a departure from the typical bitterness of beer. The brand saw a surge in demand among Indian restaurant and bar owners, largely driven by word-of-mouth publicity rather than traditional marketing campaigns. However, the initial success was accompanied by challenges, including erratic supplies due to the beer being imported from Belgium. Despite facing a supply crunch in 2016, Bira 91 continued to expand its reach, making its international debut at the Tribeca Film Festival in New York City. The brand’s innovative approach extended beyond brewing, with initiatives such as the production of a travelogue series called Bira 91 Hot Stuff and the launch of a hip-hop channel on Saavn. Bira 91 also sponsored notable events like the Global Citizen Festival and embarked on a tour with hip-hop artist Lady Leshurr. Its global presence is further solidified with availability in countries like the USA, UK, Singapore, Hong Kong, Thailand, and UAE. By November 2018, Bira 91 had cemented its status as a global player, announcing its sponsorship of the Cricket World Cup and various ICC events.

The Playful Essence Behind the Name and Logo

Bira 91’s name holds a dual meaning: colloquially resembling a term of brotherhood or friendship in North India and 91 symbolizing India’s country code. Its reverse “B” logo embodies an irreverent spirit, while the monkey mascot represents urban millennials with a playful touch. Together, these elements reflect Bira 91’s commitment to spontaneity, inclusivity, and fun.

Management of the Company

Ankur Jain: Founder & CEO

Ankur Jain, founder of B9 Beverages Pvt Ltd, began his entrepreneurial journey after earning a degree in Computer Science from the Illinois Institute of Technology, Chicago. Starting at Motorola, he later ventured into Healthcare Revenue Management in New York, where he founded his first successful venture, sold in 2007. Returning to India, Jain pursued his passion for brewing, starting his first beer venture in 2008, importing traditional craft beers to India. This laid the groundwork for B9 Beverages, which launched Bira 91 beer in 2015. Jain’s entrepreneurial vision and international experience have been pivotal in shaping Bira 91 into a renowned craft beer brand, making a significant impact on the Indian beverage industry.

Meghna Agarwal: CFO & Senior Vice President

Meghna Agrawal, as Chief Financial Officer (CFO) and Senior Vice President at Bira 91, brings a wealth of experience from her background in finance and technology consulting. With previous roles including VP of finance at Diageo India, Agrawal has honed skills in financial management and strategic planning. Her diverse educational background, including an MBA from the London Business School and a Bachelor’s Degree in Computer Science from the National University of Singapore, complements her professional expertise. Agrawal’s appointment underscores Bira 91’s dedication to nurturing top talent and enhancing global finance operations to drive the company’s growth and success in the beverage industry.

Investment timeline

2016–1st Round of Funding:

• Amount: $6 million
• Investors: Sequoia Capital, Kunal Bahl and Rohit Bansal (Co-founders of Snapdeal), Deepinder Goyal (Founder of Zomato), Ashish Dhawan (ChrysCapital), Mayank Singhal

2018 — Sofina Investment:

• Amount: $50 million
• Investor: Sofina (Belgian family-owned fund), existing investors

2019 — Pre-Series C & Debt Funding:

• Pre-Series C Funding: $4.3 million from Sixth Sense Ventures
• Debt Funding: $10 million for increasing production capacity

2021 — Kirin Holdings Investment:

• Amount: $70 million
• Investor: Kirin Holdings (Japanese integrated beverages company)
• Note: Kirin Holdings’ first investment in India

2023 — MUFG Bank Investment:

• Amount: $10 million
• Investor: MUFG Bank (Japanese bank)

2024 — Tiger Pacific Capital Investment:

• Amount: $25 million
• Investor: Tiger Pacific Capital
• Note: Investment translates to approximately a 4% stake in B9 Beverages, valuing Bira 91 at around $625 million.

Bira 91 Share Price (as of 20.03.2024)

• The buy price of Bira 91 varies based on quantity, ranging from 635 for quantities between 100–499 shares to 620 for quantities between 5000–5100 shares, with corresponding rates per share.
• The 52-week high is 720, and the 52-week low is 570 indicating the range of fluctuations in the share price. Additionally, the sell price of Bira 91 is fixed at 555.

Currently, the Bira 91 Share Price is trading at around Rs. 615/share. CLICK HERE to Invest.

To learn more about Bira’s financial highlights, latest news, IPO Plans, Recent News, CLICK HERE: https://altiusinvestech.com/blog/bira-91-brewing-success-and-navigating-challenges-indias-dynamic-beer-industry/