USL acquires 26% stake in payment tech startup Hip Bar for Rs 270 mn

With reduction in physical retail space, the company is tapping e-commerce route to drive sales

Bengaluru-headquartered alcoholic beverages company, United Spirits Ltd (USL) has acquired 26 per cent stake in payment technology start-up, Hip Bar Private Ltd, for Rs 270 million in its bid to drive sales through e-commerce route. 

Hip Bar Private Ltd, through its Hip Bar Mobile Wallet and Delivery App, allows consumers to select product from a range of alcoholic beverages, select a brand of their choice and make payment using the mobile wallet to have the product delivered at their doorstep or pick it up from a retail store at their convenience, the company said in a exchange filing.

The spirit