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The Bar Stock Exchange: Bulls, Bears & Booze

By Elke Moebius | June 15, 2015

The financial capital of the country has gone beyond the bourses and given birth to an unusual bar that trades in spirits. The Bar Stock Exchange in Mumbai offers its patrons a whole new way to hangout.

In a city that works hard, it is spoilt with choices to party hard. And just like retail stores, even bars need to have elements that make them stand out from the pack. The Bar Stock Exchange in Mumbai is one such hangout that is enticing Mumbaiites with its unique stock market for drinks! The brainchild of Mihir Desai and Amit Singh has now taken form at two locations in Mumbai- Sakinaka and Bandra Kurla Complex. VM&RD got in touch with Mihir Desai to dig it all. Read on.

Can you explain the concept?

TBSE allows trading in alcohol. Starting with all prices (30 ml / 60 ml / full bottle) at base price, prices of drinks rise in direct proportion to its consumption over a period of time at the bar. Every increasing peg/pint ordered by a patron increases its value margin, to be brought down once again if time is on your side (if orders for the same drink decrease over a period of time). Before you gasp in worry, our circuit breaker system will ensure that you get the best bang out of your buck always (whether your favourite stock be high or low).

How does this technology work?

We wanted to make this idiot proof, leaving no room for human error or mismanagement. We have invested greatly in the development of this software and in creating adequate back-end support. Hence, there is no need to do any calculations as the software manages everything, and the staff can concentrate on enhancing the experience with great service. We did our research and found a great company that has developed this software for us. Rahul Dhingra of Aurus IT has done a great job! We also have an app on which prices can be monitored and orders can be placed. The app works in sync with the "market” and also sends notifications for prices for e.g. when the market crashes.
 
The algorithm is fairly simple - all spirits start at MRP and are governed by the basic laws of demand and supply. Based on frequency of order and the time periods within which different customers place orders, the demand of a particular spirit, wine or beer grows or declines and the prices accordingly go up or come down. The system has provisions for a bare minimum and the highest maximum to ensure that the prices of a sought after drink doesn't sky rocket.
 
How did the concept come about?

The idea first germinated on my visit to New York last year. I came across a brewery trading in beer like a stock exchange trades in stocks, and I was fascinated by the innovation of the concept. It was there that I planned to open one in Mumbai with more categories of spirits, beers and wines. It was also, to a certain extent, the company's very strong intention. We've been in the bar business for over a decade now, and our desire to try something out of the box led to planning such a concept in India - which we are sure will be a phenomenon to behold not only in Mumbai, but in all the other cities that we plan to expand to!
 
What was the interior design strategy?

We wanted to keep it rustic yet colourful, reminiscent of a stock exchange, but something that can still fit into a bar. Wood and bricks were the major materials used, keeping in mind a bar layout. We also ensure we have an al-fresco section in every outlet we open, as customers love spaces that have an open air element.
 
How is the lighting designed for the space?
The space is bathed with mood lighting, which is not very dark or very dim, but adequate for people to have a good conversation and read the menu.
 
What elements of the bar's interior design cater to the concept of the stock exchange market? How were they executed?

There are multiple elements that go with stock exchange concept. For instance, our bar in Sakinaka has the traditional stock exchange LED tickers that display the live trading prices of all spirits, the legendary'GONG', as well as many odes to stock markets across the world via posters of their logos which are also seen in the Oshiwara outlet. Even our walls in these spaces have quirky wordplay between terms common to a stock exchange and to alcohol / spirits.
 
In BKC, which is a much bigger space, we had more room to play with. We have a live sized bull and bear installation, multiple cutouts in the form of puzzle pieces of similar wordplay as mentioned above, line and venn diagrams as well as old school telephones and equipment used to trade in the old days. We also have live sized LED screens that showcase the current rate, rise and fall of stock prices at each outlet, all adding to a fun, trading vibe.

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