Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li><keyword id="10879114" type="UNKNOWN" weightage="20" keywordseo="non-fungible-tokens">Non-fungible tokens</keyword> (NFTs) in India may be subject to <keyword id="142904" type="PERSON" weightage="20" keywordseo="double-taxation">double taxation</keyword>, according to a report by the Economic Times.</li><li>Not only will NFTs be subjected to tax under the <keyword id="6359833" type="UNKNOWN" weightage="20" keywordseo="Goods-and-services-tax">Goods and Services Tax</keyword> (<keyword id="6354679" type="DEFINITION" weightage="20" keywordseo="gst">GST</keyword>) but also the equalisation levy, which is normally reserved to foreign corporations.</li><li>Earlier this month, India’s Finance Minister Nirmala Sitharaman had clarified that the equalisation levy does not apply to investors — not to e-commerce companies.</li></ul>Non-fungible tokens (NFTs) have become a buzzword in India, even among those who may not necessarily be familiar with cryptocurrencies. But those looking to buy these digital collectibles in the country may have to end up paying more to the government. Sources told the <a href="https://economictimes.indiatimes.com/news/economy/finance/double-tax-for-nfts-deals-may-attract-gst-equalisation-levy/articleshow/85381175.cms">Economic Times</a> that buying a <keyword id="4668945" type="PERSON" weightage="20" keywordseo="nft">NFT</keyword> may not only attract the normal Goods and Services Tax (GST) but also a 2% equalisation levy, which is normally reserved for corporations based outside of India but operating within the country. The idea also made the rounds when it came to <a href="https://coindcx.com/">cryptocurrencies</a> being taxed in India, but the speculation was shot down by India’s Finance Minister, Nirmala Sitharaman, last month. “Equalisation levy is imposed on e-commerce operators, not on the investors,” she explained during the Monsoon Session of Parliament on July 27. The controversial levy, also called the ‘Google Tax’, has historically only been imposed on foreign companies — like Amazon, Facebook and others. The logic behind the tax was for these companies to compensate the Indian government for earnings revenue from Indians through online ads. If double taxation does indeed come into effect, the adoption of NFTs in India could get slower than what has been seen over the span of this year. There is also ongoing debate over the value of these digital assets. Not only are they volatile, as with cryptocurrencies, but they’re also entirely speculative — as with works of art and qualitative assets in real life. <cmsannotation type="cmsannotation" annotationid="What is an NFT?" comment="subhead" text="What is an NFT?">What is an NFT?</cmsannotation> The <a href="https://www.businessinsider.in/investment/news/what-is-non-fungible-token-nft-everything-you-need-to-know/articleshow/84754933.cms">blockchain-based digital collectibles</a> have been making headlines not just for their high valuations, but also due to new use cases popping up as a result of the pandemic. In a world where social distancing and traveling are restricted, being able to attain collectibles online has been a popular choice for both the sporting world and its fans. An NFT, as its name implies, is non-fungible. In technical terms, each NFT is a unique code or blockchain-based digital file. This means that one NFT cannot be exchanged for another like with cryptocurrencies, where one Bitcoin is identical to the next, aside from ownership. The world’s largest platform for selling NFTs, OpenSea, saw trade volume surge 950% in the last 30 days to hit $1.22 billion, according to <a href="https://dappradar.com/ethereum/marketplaces/opensea">DappRadar</a>. <cmsannotation type="cmsannotation" annotationid="NFTs are growing rapidly in India" comment="subhead" text="NFTs are growing rapidly in India">NFTs are growing rapidly in India</cmsannotation> In India, NFTs may not be the crypto investment of choice for everyone, but the <a href="https://www.businessinsider.in/cryptocurrency/news/rich-indians-are-buying-up-nfts-to-diversify-their-investments/articleshow/84135195.cms">rich kids</a> are using them to diversify their portfolios. And, as seen globally, NFTs are also <a href="https://www.businessinsider.in/cryptocurrency/news/indias-nft-space-is-growing-almost-as-fast-as-crypto/articleshow/84974126.cms">emerging</a> as a new avenue for Indian artists to showcase their work and generate revenue. Indie pop icon <keyword id="4735933" type="PERSON" weightage="20" keywordseo="ritviz">Ritviz</keyword> and visual artist Santanu Hazarika sold their collaboration for $391.80 on the Indian crypto exchange WazirX’s NFT marketplace within 10 seconds going live. TV host and actor <a href="https://www.businessinsider.in/cryptocurrency/news/vishal-malhotra-nft-sold-for-5500-on-wazirx/articleshow/84135817.cms">Vishal Malhotra</a> was another big wig to sell his NFT, but for a much higher amount of $5,500. These are only a few of the 160 pieces of digital art that the WazirX-backed platform sold within a month of its launch in June.After its initial success, the NFT marketplace launched collectibles solely focused on athletes participating in the Tokyo Olympics this year. The company has mined GIFs, artwork, and other digital mementos to capture the historical wins seen in Japan. In addition to WazirX’s platform, <a href="http://yptocurrency/news/a-new-nft-platform-by-an-iit-bombay-graduate-wants-everyone-to-be-able-to-set-up-their-own-shop-online/articleshow/84610361.cms">NFTically</a> is another NFT marketplace available to Indian investors, which also allows them to set up their own shop if they don’t want to operate on <keyword id="11683645" type="UNKNOWN" weightage="20" keywordseo="nftically">NFTically</keyword>’s main platform. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/hacker-behind-610-million-crypto-hack-conducts-ama-claims-returning-the-money-was-always-a-part-of-the-plan/articleshow/85268481.cms">Hacker behind $610 million crypto hack conducts AMA — claims returning the money was always ‘a part of the plan’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/crypto-markets-are-recovering-and-mining-companies-in-north-america-are-raking-in-the-gains/articleshow/85237637.cms">Crypto markets are recovering, and mining companies in North America are raking in the gains</a>

Buying NFTs may get more expensive for Indians as the government mulls over double taxation

<ul><li><keyword id="3358959" type="PERSON" weightage="20" keywordseo="ShareChat">Sharechat</keyword>’s short video platform <keyword id="8678883" type="UNKNOWN" weightage="20" keywordseo="moj">Moj</keyword> has announced the release of the world’s first ‘<keyword id="10099500" type="UNKNOWN" weightage="20" keywordseo="short-music-album">short music album</keyword>.’</li><li>The album by popular singer <keyword id="4735933" type="PERSON" weightage="20" keywordseo="ritviz">Ritviz</keyword> has five 30-second clips that can be used exclusively by Moj users. </li><li>The company said it has been designed to target the millennial audience with snackable content. </li></ul>Moj – the video platform from India’s own social media network Sharechat – made an interesting announcement today. It has launched the world’s first ‘short music album.’ Wondering what it means? Just 30-second songs designed for short video platforms. The album by popular singer Ritviz has five 30-second clips that can be used exclusively by Moj users. Ritviz has had a series of big hits with songs like Udd Gaye, Liggi, Jeet and Sage, among others. The company said it has been designed to target the millennial audience with snackable content. “Notwithstanding the success of snackable video content the world is yet to explore the shorter format of music. We have decided to pioneer this experiment with Ritviz, and we hope this will now become the harbinger of a trend in the short music space," said Shashank Shekhar, Director, Content Strategy and Operations, Moj. In early July, Sharechat had launched Moj – its rival product to TikTok, right after the Chinese app was banned by the Indian government. Since then, Moj has ramped up its offerings with the hope of tapping into the millions of users left behind by the ByteDance giant TikTok. Sharechat had also recently inked a licensing deal with T-Series. With the partnership, Sharechat, and its video platform, Moj’s users can access T-Series library of songs. Sharechat currently has over 160 million monthly users, while Moj has 80 million monthly active users. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/check-the-list-of-upcoming-expected-ipo-in-2020-or-early-2021-in-india/articleshow/78634660.cms">IPOs have raked in nearly $180 billion so far in 2020 — Here’s a look at some other companies that may go public this year</a> <a href="https://www.businessinsider.in/tech/news/oneplus-chinese-company-co-founder-carl-pei-exits-company-one-day-ahead-of-flagship-mobile-launch/articleshow/78634270.cms">OnePlus co-founder Carl Pei reportedly exits company one day ahead of flagship smartphone launch</a>

Ritviz’s latest album is ‘30-second songs’ made for content creators on short video platform Moj

<ul><li>As the restrictions on the AlcoBev category grew stronger, there was an upsurge in music associations</li><li>Bacardí was among one of the first brands to marry music into its marketing strategy and in the last 20 years, the way it has used music has also evolved</li><li>The last song released under <keyword id="8065961" type="UNKNOWN" weightage="20" keywordseo="Bacardi-House-Party-Sessions">Bacardi House Party Sessions</keyword> was Sage by Ritviz, which gained a lot of love from millennials and we asked <keyword id="7306339" type="UNKNOWN" weightage="20" keywordseo="Anshuman-Goenka">Anshuman Goenka</keyword> how much it helped the brand</li></ul> Bacardí India has leveraged music since its inception in India, forming a strong brand identity for its rum portfolio. The brand’s journey from the beginning of <keyword id="20541" type="PERSON" weightage="20" keywordseo="bacardi-blast">Bacardi Blast</keyword> in the early 2000s to <keyword id="497469" type="ENTERTAINMENT" weightage="20" keywordseo="NH7-Weekender">NH7 Weekender</keyword>, to <a href="https://youtu.be/qnAo7OgHfi8" data-type="tilCustomLink">Bacardí House Party Sessions</a> (BHPS) proves how music was the anchor to its growth, as if its inseparable from its brand identity. In the last four to five years, as the restrictions on the AlcoBev category grew stronger, there was an upsurge in music associations. However, Bacardí was among one of the first brands to marry music into its marketing strategy and in the last 20 years, the way it has used music has also evolved. Anshuman Goenka, Head of Marketing, Bacardí India shared how music has helped <keyword id="15277" type="COMPANY" weightage="20" keywordseo="bacardi">Bacardi</keyword> maintain a strong brand recall, surf through the restrictions on alcobev brands in our country, and how it has pushed the brand to come up with innovative solutions every time. Out of all their properties, Goenka holds Bacardí NH7 Weekender closest to his heart. As he feels nostalgic for the golden days and excited for their on-going campaign called ‘<a href="https://youtu.be/uL-aOQD2CQQ" data-type="tilCustomLink">Do What Moves You</a>,’ we are bringing to you some excerpts from our interview: Q. Can you walk me through Bacardí's music journey? Which musical property do you place close to your heart? In its 20 odd years in India, Bacardí has gone from being famous for hosting parties way beyond it’s time like the Bacardí Blast campaign and that one early jingle “Be what you wanna be”, to associating with iconic music festivals and content creators. In 1999, when we launched the Bacardí Blast campaign, we literally took the concept of nightclubs out in the open, pioneering the idea of open-air music experiences. For the last couple of years, we have used every platform possible to give our artists a bigger and better stage to create the music that moves them and showcases their talent. Continuing to work with music, we realized that there seemed to be no platform where music-lovers could just spend a few days in the company of what they enjoyed the most. That is when the brand along with OML created Bacardí NH7 Weekender to bring the best of music - independent artists, local and international to perform to the cheering crowds in India, a few days of pure music bliss. This platform helped us create several new relationships with the indie scene and we slowly came to understand the gaps these talented artists face leading to the culmination of Bacardí House Party Sessions, an avenue for independent artists to create, develop and promote their music with the benefit of every resource possible and mentorship. Yet, of all of our properties, the one that remains closest to our hearts, will have to be Bacardí NH7 Weekender. We take immense pride in having built one of the most anticipated music festivals in the Indian calendar, or better yet, one of the happiest music festivals. This year, we’re celebrating a decade of Bacardí NH7 Weekender, one of the first, large scale music festivals India had ever seen. When we see the online excitement leading up to the Weekender, the crowds lining up to enter and audiences singing along to indie artists, it’s worth far more than any measurable outcome. Q. Bacardí was one of the first few brands in our country to leverage music as a marketing strategy. Tell me how has this played out – how has using music benefited the brand so far? From Bacardí Blast to Bacardí NH7 Weekender, music is truly entrenched in Bacardí’s DNA and we understand that building equity takes years of both consistent interest and investment, and seeing real impact requires long-term assessment. When we look at the benefits from campaigns such as Bacardí House Party Sessions, we see the rise in brand uplift scores and based on our brand surveys, over 80% of Bacardí NH7 Weekender attendees have a strong brand recall and resonate with the fact that Bacardí stands for great musical experiences. The increase in engagement that we’ve been garnering on digital platforms, the artist’s familiarity across regions and sheer audience love at BNH7 Weekender, where these songs are sung along within a week of their release, are a testament to our efforts and investments. Q. Do you think music has been a great alternative for AlcoBev brands in India? How do you see the category using it now v/s when you began? In the last 5-6 years, there has been a surge of AlcoBev brands in India associating with music. Music knows no boundaries and increasingly, brands are starting to latch on to this emerging trend because it allows them to communicate to a wider target audience. This began in the late 2000s with the outbreak of several sponsored music festivals and events cropping up across the region. However, brands have long moved beyond mere sponsorships and are now engaging with the community by curating meaningful experiences. Workshops, panel discussions and intimate house gigs are a few of the prominent mediums that brands have employed. Some have even gone further to facilitate long-term collaborations directly with artists building creative brand narratives through these artists’ voices. For Bacardí itself, music was never just a tool, but a means for us to give back to our audiences. Our approach has consistently been to engage and uplift the music community and our consumers, leading up to our most recent and focused campaign BHPS. It is a platform that identifies artists with a unique sound, followed by a dedicated team that works with them right from production to marketing. From our experience, right from Bacardí Blast and Bacardí NH7 Weekender, to Bacardí House Party Sessions, we have realised that music opens avenues for brands to own a space and host global platforms that resonate with consumers over a long time. Q. Do you think Bacardí was able to create a niche by focusing specifically on independent music? While we’re not the only brand to work with independent musicians, with Bacardí House Party Sessions, we are unique in the way that we help artists scale their careers. We work only with emerging artists year on year, giving them the right exposure and opportunity, allowing them to break through in a much shorter time frame. We identify artists who we feel have a unique sound, followed by a dedicated team that works with them to create, curate and promote their music. We also give them an opportunity to work with and learn from the best in the industry. This year, we had mentors like Amit Trivedi, Benny Dayal and Mohini Dey on board, who help the artists craft their music better. Bacardí supports the artist from the moment the music is penned, to the point where people sing along to their songs, from the production of their music to the promotion of the videos we helped create. This approach has helped us create a niche not only within independent music but also as an enabler of a community that requires resources, recognition and mentorship. That’s where we feel that we have bridged the gaps just nudging the undeniable talent that already exists in our country. Q. How are these associations being leveraged digitally, considering the restrictions placed on alcohol marketing in India? India is a challenging market, one that encourages us to find innovative and interesting ways to connect with our consumers. Bacardí functions on a unique content-creator model wherein we work with artists like comedians, dancers and musicians, and allow them to curate their content while keeping our brand ethos in mind, which is ‘Do what moves you’. This encourages the artists to do their thing, without fear of interference from the brand. Digitally, this approach works well with audiences who identify with our campaigns much more, when the artist is the hero of the story. It ensures that our content is original and more relevant, especially for millennial viewers. BHPS itself has taken off entirely through a digital approach lately. A combination of both mediums (digital and on-ground) is what we believe will really sustain our work.

How Keeping Music at the Heart of Bacardi’s Identity Helped it Create Strong Brand Recall

As high-net-worth individuals (HNWIs) continue to invest in <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" data-type="tilCustomLink">cryptocurrencies</a> and seek to diversify their portfolio, non-fungible tokens (NFTs) are slowly gaining asset-class credibility. Indians are also warming up to this new digital asset that has given creators and collaborators a fresh platform to earn better moolah while generating more value for their work. NFTs allow people to buy and sell ownership of unique digital items in <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" data-type="tilCustomLink">cryptocurrencies</a>, and keep track of who owns them using the Blockchain. NFTs can technically contain anything digital, including drawings, artworks, tweets, animated GIFs, songs or even video games. TV host and actor Vishal Malhotra collaborated with artist Ishita Banerjee to release an NFT which was sold last week for 2.5 Ethereum ($5,500) -- five times the listed price. On the NFT marketplace by WazirX, India's biggest cryptocurrency exchange in terms of trading volume, a unique NFT, which was a collaborative artwork between pop icon Ritviz and visual artist Santanu Hazarika, was sold for $391.8 within 10 seconds of going live. WazirX has sold more than 160 pieces of digital art on its platform for NFTs within month of its launch. The crypto company on June 1 rolled out South Asia's first NFT Marketplace with 15 creators hailing from diverse categories such as space 3D artists, digital artists, muralist photographers, canvas artists, street artists and visual artists. The platform came without any listing price and extended 50,000 <keyword id="4090915" type="COMPANY" weightage="20" keywordseo="WRX">WRX</keyword> (WazirX tokens) as bonuses for the community. "More artists and collectors across the globe are today tapping the power of NFTs. NFTs ensure the exclusivity of ownership and can be seen as a way to digitise artwork and other collectible items," said Sandesh B Suvarna, <keyword id="45171" type="COMPANY" weightage="20" keywordseo="VP">VP</keyword>, WazirX NFT Marketplace. According to Hazarika, the global NFT market is slowly becoming a crucial promotional tool for all artists to monetise their work and uniquely engage with their community of collectors and fans who value art. "With NFTs, artists are now open to working with anyone," he said. The WazirX NFT Marketplace is powered by the Binance Smart Chain, which brings the gas fee -- a sum required to mint the NFT via a blockchain -- down from $60-$100 to about $1. Since the NFTs are interoperable, anyone can later transfer the NFT to a different cryptocurrency such as Ethereum. An exhibition featuring the artworks of Bengal-born artist, Lalu Prasad Shaw, certified using NFTs is on view at <keyword id="11570951" type="COMPANY" weightage="20" keywordseo="terrain-art">Terrain.art</keyword> till July 31. "Terrain.art is delighted to be one of the first blockchain powered platforms in India to register artworks using NFTs, presenting new works and those with prior histories through curated exhibitions," said its founder Aparajita Jain. On the global stage, digital artist Michael Winkelmann or Beeple sold one of his NFT arts for nearly $70 million earlier this year. An NFT artwork by <keyword id="38879" type="COMPANY" weightage="20" keywordseo="NSA">NSA</keyword> whistleblower Edward Snowden was sold for more than $5.4 million in April. <keyword id="6354616" type="COMPANY" weightage="20" keywordseo="Twitter">Twitter</keyword> CEO Jack Dorsey even sold his first tweet as an NFT for over $2.9 million. According to Capgemini's World Wealth Report (WWR), with the current stock market surge, HNWIs are seeking to diversify their portfolio with alternative investments. "Special purpose acquisition companies (SPACs) are becoming more popular, while non-fungible tokens (NFTs) are slowly gaining asset-class credibility," the report noted. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/aamir-khan-backed-furniture-rental-startup-furlenco-raises-1000-crore/articleshow/84132797.cms">Aamir Khan-backed furniture rental startup Furlenco raises ₹1,000 crore</a> <a href="https://www.businessinsider.in/business/startups/news/info-edge-will-now-only-sell-shares-worth-375-crore-in-zomato-ipo/articleshow/84131589.cms">Info Edge will now only sell shares worth ₹375 crore in Zomato IPO</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-wi-fi-bug-could-prevent-you-from-connecting-to-wi-fi-networks/articleshow/84133617.cms">New iPhone Wi-Fi bug could prevent you from connecting to Wi-Fi networks</a>

Rich Indians are buying up NFTs to diversify their investments

<ul><li>Started in 2016, <keyword id="9581444" type="PERSON" weightage="20" keywordseo="simba-craft-beer">Simba Craft Beer</keyword> has already been able to carve a way for itself in the market.</li><li>Word of mouth has played a huge role in the brand's growth and has been instrumental in helping them develop a base of brand loyalists, shares <keyword id="6862143" type="PERSON" weightage="20" keywordseo="Prabhtej-Singh-Bhatia">Prabhtej Singh Bhatia</keyword>, Founder and CEO of Simba <keyword id="782706" type="PERSON" weightage="20" keywordseo="Craft-Beer">Craft Beer</keyword>.</li><li>He tells us how despite being a difficult year, in 2020 the company has already touched Rs 150 crore from the Rs 125 crore last year<a name="_GoBack"></a>.</li><li>Bhatia also tells us that in the next 5 years, he sees the craft beer segment take a leap and takeover 10-11% of the market instead on the current 1-2%. </li></ul> The <keyword id="91743" type="PERSON" weightage="20" keywordseo="lockdown">lockdown</keyword> this year came right before the summer season. Many brands that rely heavily on the season like home appliances, travel etc were impacted substantially due to the complete country-wide lockdown. Another industry that was severely affected due to this move was the <keyword id="467068" type="PERSON" weightage="20" keywordseo="liquor-industry">liquor industry</keyword>. The summer months usually mean peak sale time for liquor brands, especially beers. However, with the gradual opening up of the country, things are slowly starting to look up. We recently caught up with Prabhtej Singh Bhatia, Founder and CEO of Simba Craft Beer. Started in 2016, the brand has already been able to carve a way for itself in the market. Primarily relying on word-of-mouth marketing, Simba has been able to develop a loyal consumer base in the country. Despite entering a segment that has had a lot of well-established players, the brand has been witnessing impressive growth. Bhatia tells us how they have been able to drive differentiation, and how word of mouth has worked wonders for the brand. Excerpts: <li>Q) Simba was launched in 2016 but when you launched, you hardly did any marketing around it then. How did you manage to woo Indian beer drinkers who have been loyalists of a lot of other brands?</li> Since the inception of the brand, our brand philosophy has been that if you build a great product, then it speaks for itself. Our focus for Simba has been to first get the product right and then work upon building a strong knit community of consumers who love the product. We truly believe in our product and it has carved a niche for itself in the country. Having said that, we did a bit of marketing. we always wanted to build a brand from ground-up. <li>Q) Your job must have been difficult as you were competing in a category that had a lot of global, much well-established players. How were you able to create a differentiation for yourself?</li> We largely depended on word-of-mouth promotion and still stick to that. And because of a much higher quality and differentiated product we were able to capture the imagination of several people and make our presence felt. When we entered the market, the industry had been stagnant for a while with old players and consumers did not have a lot of options. They consumed the same kind of beer packaged under different labels. It’s fairly recent since a new wave of craft beer enthusiasts emerged and is growing now. Consumers today are receptive to change and are open to experimenting with new offerings. Simba has been able to disrupt the already existing limited categories (strong and lager) of beer by introducing quality product and in new variants. <li>Q) You say word-of-mouth played an important role initially. Has your marketing strategy evolved now? </li> Word of mouth played a huge role in our growth, it has been instrumental in helping us develop a base of brand loyalists. We continue to be cognizant of our brand associations, events we host or partner with and the kind of consumer segment we reach out, to ensure our key message reaches the right set of audience. This has helped us create a niche for ourselves in the market/industry. <li>Q) You have already launched an IP. Tell us a bit about Simba Uproar.</li> Simba has been working hard to support local underground artists in helping them find a strong foothold in the industry. We want to provide artists and consumers with relevant platforms to showcase their talent. For this we launched our own IP called Simba Uproar where we have worked with artists such as Blot!,Sequel, Ritviz, Ten Walls, George Fitzgerald and Seedhe Maut. In light of the current health crisis, we took our IP to consumers’ homes with Simba Roar from Home – a series of cool gigs, good music and great beer in the comfort of homes. Making this a twice a month property to engage with music lovers, Simba live streams a local artists from varied genres who play their curated playlists. <li>Q) You have also launched a range of merchandise. How has the reception been so far? How are you growing that vertical? Are you only promoting it on the digital medium?</li> Our merchandise is something that was born out of consumer demand and love for the brand. We are building it very organically and do not do a lot of marketing for it. Our focus is and will remain our beer. Our brand loyalists have shown us constant support, be it our beer or our merchandise. It has been received well by Simba loyalists and has grown ever since. <li>Q) How big is the brand right now and what is your target revenue for the next year? And how do you aim to achieve this? </li> We have witnessed tremendous growth. This year our company had already touched Rs 150 crore from Rs 125 crore last year<a name="_GoBack"></a>. The year so far has been challenging due to the COVID-19 pandemic and its impact of business across industries, including the liquor industry. Things are beginning to look up as we move towards resuming normalcy, and we are positive and hopeful about the year ahead and 2021. <li>Q) How are you looking at expanding your offering while also strengthening your distribution?</li> We are looking at foraying into a new segment with our kegs, these will be available throughout the country. We also aim to enter Kerala in southern markets and strengthen our presence in Karnataka state among others. There are some very good distributers present in the industry who are doing a great job. We are in talks with them for our business as well. <li>Q) What was the business impact of the lockdown on your company? </li> Our business greatly suffered in terms of sales during the month of April and May due to COVID-19 lockdown. We almost made zero sales during those two months, which has impacted the business. April and May used to contribute to almost 25-30% of the annual revenue. <li>Q) What lessons of resilience did you learn after the lockdown? Has it made your business more future-ready?</li> The pandemic has forced us all to revisit our basics and stick to them. We realized the fundamentals of any company are very important, financial prudence is more important than ever now. We are definitely more future-ready and fundamentally aligned following this experience. COVID-19 has taught us that sticking to ones fundamentals never goes wrong and has paved a way for a better future. <li>Q) How do you see the craft beer segment evolve in the next few years?</li> I think the craft beer segment is destined to grow with some hit on the <keyword id="1126722" type="PERSON" weightage="20" keywordseo="microbrewery">microbrewery</keyword> side. In the next 5 years, I do see it taking a leap and takeover 10-11% of the market instead on 1-2% right now.

You Searched For "ritviz" and got 5 results

Buying NFTs may get more expensive for Indians as the government mulls over double taxation

Prabhjote Gill

Ritviz’s latest album is ‘30-second songs’ made for content creators on short video platform Moj

BI India Bureau

How Keeping Music at the Heart of Bacardi’s Identity Helped it Create Strong Brand Recall

Karuna Sharma

Rich Indians are buying up NFTs to diversify their investments

IANS

Word of mouth played a huge role in our growth, helped us develop a base of brand loyalists: Prabhtej Singh Bhatia, Simba Craft Beer

Samarpita Banerjee

Popular Keywords

Buying Guides