Subscription service Beer Cartel to sell shares to public
Craft beer retailer, Beer Cartel, is gearing up for an initial public offering in Australia, allowing customers to own a stake in the business.
The alcohol delivery business aims to raise $1.5 million through equity crowdfunding with Birchal to fund its growth and improve its logistics, website and offer.
Founded in 2009 by Geoff Huens and Richard Kelsey, Beer Cartel currently offers over 1000 craft beers from breweries worldwide. With 20-30 new beers being added weekly, many exclusive to its website and Sydney store.
“While buying shares in Beer Cartel will probably give you bragging rights to your mates, our 100,000 loyal customers and 12 years of successful online retailing prove we mean business,” said Kelsey.
“As a part-owner of the country’s biggest craft beer bottle shop, not only will you be able to share in our success – you’ll also be given excellent perks. Imagine having personal access to an Aladdin’s Cave of craft beers from all over the world, at special ‘investor prices’,” he added.
The business is expecting a huge interest after it recorded a 75 per cent increase in revenue over the past year during Covid. Sales were not just limited to its range of craft beers; it also saw an increase in its mixed craft beer packs and monthly beer subscription.
Huens said that while Covid put pressure on the company last year, the uptick in sales allowed it to employ hospitality workers who lost their jobs because of the pandemic.
“It was also very satisfying to support craft breweries that were taking a massive financial hit because so many hospitality venues were closed or had severe capacity limits put in place. Our success had a flow-on effect to many families and small businesses around Australia,” he added.