Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / Coca-Cola targets Maaza to become $1 billion brand by 2020
BackBack

Coca-Cola targets Maaza to become $1 billion brand by 2020

Coca-Cola India and South West Asia president Venkatesh Kini says that all our consumer research show that Maaza is India's most trusted and loved brand

Coca-Cola India had acquired Maaza along with brands such as Thums Up and Limca from Parle Bisleri. Photo: MintPremium
Coca-Cola India had acquired Maaza along with brands such as Thums Up and Limca from Parle Bisleri. Photo: Mint

New Delhi: Beverages major Coca-Cola India is targeting its mango fruit-based drink Maaza, which it acquired in 1993, to become a $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," Coca-Cola India and South West Asia president Venkatesh Kini said.

At present, Maaza is a over Rs2,000 crore brand, he added. In 1993, Coca-Cola India had acquired Maaza along with brands such as Thums Up and Limca from Parle Bisleri. In order to achieve the target, company is also investing in areas such as increasing manufacturing capacity.

“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% of which will have manufacturing lines for Maaza," the firm said.

The company has already announced one 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 company had earlier indicated that Maaza will become a $1 billion brand by 2023. At present, Coca-Cola company and its bottlers in India annually procure 70,000 metric tonnes of mango pulp worth Rs500 crore.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 26 Feb 2017, 12:06 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie