Allied Blenders and Distillers (ABDL) has unveiled its new venture in the luxury spirits market, in collaboration with Bollywood actor Ranveer Singh.

What Happened: The venture will witness Singh, a renowned figure in the entertainment sector and a rising entrepreneur, become an equity partner with Allied Blenders to offer a range of high-end brands, the company said in a press release on Thursday.

See Also: Why Suzlons Share Price Is Upbeat Today

“I am thrilled to collaborate with Allied Blenders and Distillers Limited's unique initiative. This venture is not just about creating and offering premium and luxury spirits, but equally about fulfilling the aspirations of the Indian consumer,” Singh stated.

The collaboration aims to merge world-class products, sourcing, and craftsmanship with the vibrant flavours of India, crafting experiences that resonate with consumers.

Alok Gupta, managing director of Allied Blenders and Distillers Limited, voiced confidence in the venture, stating, “With him as our business partner and a creative mentor, we are confident that our luxury products will resonate with consumers.”

The venture is a tactical move for Allied Blenders, enabling it to concentrate on the luxury spirits market while maintaining its existing core brands. The company aims to leverage Singh’s popularity and business acumen to tap into the growing demand for luxury spirits in India.

Price Action: Shares of Allied Blenders were up 1.27% to ₹354 on Thursday morning.

Read Next: Sona BLW Shares Rise 2% After Launching QIP, PLI Certification For New Product