Coca-Cola India, one of the world’s leading beverage companies is targeting its mango fruit-based drink Maaza, to become a USD 1 billion brand by 2020.
“We would love to see Maaza become a $ 1 billion brand coming out of India by 2020. The brand has potential to be there. All our consumer research show that Maaza is India’s most trusted and loved brand,” said Venkatesh Kini, Coca-Cola India and South West Asia President. Maaza is an over Rs 2,000 crore brand at present, Kini added.
Coca-Cola India had acquired Maaza in 1993 along with brands such as Limca and Thums Up from Parle Bisleri. The company is also investing in areas such as increasing manufacturing capacity in order to achieve the target.
“The resource infusion behind Maaza is a part of the $ 5 billion investment plan of the Coca-Cola company and its bottlers in India, between 2012 and 2020. The bottlers of the company are setting up 5 Greenfield projects over the next 2 years, at least 50 per cent of which will have manufacturing lines for Maaza,” said the firm.
Coco-Cola India has already announced a greenfield facility in Madhya Pradesh. “These new lines will help keep pace with the expected increase in demand of Maaza over the next few years,” it added.
The beverages major had earlier pointed out that Maaza will become a USD 1 billion brand by 2023.
Coca-Cola India and its bottlers annually procure 70,000 metric tonnes of mango pulp worth INR 500 crore at present.
Copyright 2017, Insights Success. All rights reserved.