Coca-Cola India to expand portfolio
The global soft drink major would invest $250 million over the next three years and plans to introduce new products, including specific products for the Indian market. Gaurav Choudhury has details.business Updated: Jan 15, 2008 03:20 IST
Global soft drink major Coca Cola India would invest $250 million over the next three years and plans to introduce new products, including specific products for the Indian market such as Aam Panna.
Globally, the company has 400 brands and over 1,000 products. “We will bring whichever suit the Indian market," he said.
The company has already test-marketed Maaza Aam Pana and a bolder tasting Fanta in some parts of the country. “These may also be rolled out nationally," he said.
“These investments would enable the Coca-Cola system to create bottling capacities for new product offerings, execute marketing strategies, devise innovative distribution models and ensure value creation for all its business partners”, Coca-Cola India CEO Atul Singh told Hindustan Times on Monday.
The soft-drinks major on Monday received a clean chit from TERI in an environmental audit for compliance with Indian regulatory requirements.
US-based NGO Meridian Institute had recommended to Coke for mandating TERI to conduct the independent audit. The TERI report said that no pesticides were found in any of the intake water and treated water used to make beverages. The company's plants were generally in compliance with applicable Indian environmental regulatory norms, the report said.
No pesticides were found in any of the intake water and treated water used to make beverages and the company's plants were generally in compliance with applicable Indian environmental regulatory norms, the report said after a 16-month work at six of the company's plants.
"In the past four consecutive quarters, we have delivered good growth, with the last quarter clocking 12 per cent in India. To enhance it further, our new initiative will follow a five point strategy involving people, planet, portfolio, partners and performance," Singh said.
Sparkling beverages, energy drinks, sports drinks, flavoured water and juices are the major focus areas at the moment, Singh said. The company has already announced a national roll-out of its orange pulp drink 'Minute Maid'. He, however, declined to comment on whether the company was interested in any domestic bottled water brands.