“By investing in them and bringing them into the GZV fold, together we intend to take the brand and the entire portfolio to the next level,” Viswanathan said
Grover Zampa Vineyards (GZV), the country’s second largest wine producer, has funded Myra Vineyards and appointed Ajay Shetty as chief lifestyle officer of GZV. Shetty will be reporting to Group CEO Vivek Chandramohan. The brand Myra Vineyards will now come under GZV umbrella.
Myra Vineyards, the Bangalore-headquartered wine brand, has received funding from wine investor Ravi Viswanathan. The Myra brand has its presence in Karnataka, Maharashtra and Goa and is eyeing to grow its market share and introduce more verticals to its portfolio.
The brand, founded by investment banker-turned-wine entrepreneur Ajay Shetty, was established in 2012. Myra Vineyards has since grown with around 15,000 cases being sold in its principal markets. Shetty, CEO, Myra Vineyards, said the transaction will help achieve a pan-India presence and with a strong backing of the GZV family to make theirs a lifestyle company. The transaction details was not revealed.
Ravi Viswanathan said the Indian wine market has matured over a period of time and he saw great potential in Shetty not just to lead Myra Vineyards as a brand but also as chief lifestyle officer at GZV, and he will be leading the new initiatives in the lifestyle areas that will cater to the market and demands of the youth with higher disposable income. “By investing in them and bringing them into the GZV fold, together we intend to take the brand and the entire portfolio to the next level,” Viswanathan said.