New Delhi: One of the world's largest brewers AB InBev on Friday said it has signed an agreement with hotel chain The Indian Hotels Company Limited (IHCL), to launch a chain of 15 microbreweries over the next five years to sell craft beer at the hotel chain's top properties in India.
The partnership between the two is estimated at ₹150 crores.
The two are trying to capitalise on the emerging global trend of craft beers that has also found resonance with millennials in India.
The microbreweries will be conceptualized by ZX Ventures, that is AbInBev's global innovation and investment team, the two said in a press release on Friday.
"We look forward to working with the emerging craft community in the country and are confident that our synergies in this category will shape the craft beer industry in India," Jan Craps, executive director and CEO, Budweiser APAC and President for APAC at AB InBev, said in the release.
To be sure, The Indian Hotels Company Limited runs popular hotel chain Taj and Ginger among others in India. AB InBev is among the world's top brewers that sells brands such as Budweiser, Corona and Stella Artois among others.
"This partnership, exclusive to IHCL will be a first of its kind in the hospitality industry in India. With its diverse collection of over 500 beer brands, AB InBev will be involved in setting up on-site microbreweries at some of our iconic hotels; the first of which will be at Taj MG Road, Bengaluru, followed by Goa, Mumbai and Hyderabad," said Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL.