B9 Beverages: From Start-Up to Scale-Up
In May 2018, B9 Beverages Private Limited (B9 Beverages), the owner of craft beer Bira 91, reached a total of over US$100 million in funding after receiving $50 million from Sofina SA, a Belgian investment firm. This third round of funding would allow the company to meet the various objectives that the founder and chief executive officer had planned for the company's new Bira 91. He wanted his India business to break even by 2019 and expand fivefold over the next three years. He also wanted to establish a leadership position in the Indian premium beer market. The company also planned to launch Bira 91 as a public company through an initial public offering within the next few years. His long-term goal was to make Bira 91 a product rooted in India, as well as a global leader in craft beer. As the market and competition continued to grow, B9 Beverages had to develop a strategy to differentiate Bira 91 in the crowded global beer market. Sandeep Puri is affiliated with Asian Institute of Management. Shalki Goel is affiliated with Institute of Management Technology, Ghaziabad. Sanchita Krishna is affiliated with Institute of Management Technology, Ghaziabad. Babak Hayati is affiliated with Asian Institute of Management. Rakesh Singh is affiliated with Bennett University.