Bollywood’s fascination for startups is not hidden from anyone. After Sunil Shetty, Ranveer Singh and Alia Bhatt, actor Sanjay Dutt has placed his bets on a Mumbai-based alcobev startup firm. The actor has invested in startup Cartel & Bros. The company is looking to import and retail a portfolio of liquor brands into India, executives of the newly founded company told Economic Times.
According to Zauba Corp, Cartel & Bros is a partnership firm which was registered on 28 October 2021. Its designated partners are Jitin Suresh Merani, Manish Srichand Pardasani, Rohan Niklesh Nihalani and Moksh Shrichand Pardasani. Rohan Nilani is a promoter of Morgan Beverages.
The venture firm has taken a factory in Scotland on lease. The company will keep its products in reasonable range to increase its access among younger consumers, Mokksh Soni told ET.
The business of alcohol beverage is a challenging field due to its complex regulation, multiple state-level taxation and price-control. Mokksh Soni expressed his belief that the startup firm would be able to convert the younger generation of the country into its consumers in the coming time.
Sanjay Dutt’s other investment
Other than investment in alcobev startup, Sanjay Dutt holds less than 1% shares in Cyber Media (India) limited, according to Trendlyne. CyberMedia is a specialty media house and is an acclaimed magazine brand in India. The group’s media runs around 12 media properties which includes Dataquest, PCQuest, Voice&Data, Global Services, DQ Channels, DQ Week (Delhi, Chennai, Mumbai and Kolkata). It also has twleve websites which are led by www.CIOL.com.
Updated: 20 Jun 2023, 10:59 AM IST
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