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Bhat: Listing priorities
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Calcutta, Aug. 31: Tata Global Beverages, formerly known as Tata Tea, will bank on innovation in the health and wellness category to drive growth.
Development of specialty tea and opening of the first coffee outlet under its joint venture with Starbucks Coffee Company before December form an integral part of the road map prepared by the company.
The company also plans to extend the reach of its Himalayan mineral water brand by exploring new markets.
In his last annual general meeting for Tata Global Beverages as the chairman, Ratan Tata said, “Special focus will be on developing specialty tea. There is new demand for health and wellness drinks. We are now the second largest tea company in the world. It is a unique achievement for any Indian company. The joint venture with Starbucks and PepsiCo are going to cement our position in the market.”
He said the company would focus on its core portfolio in key markets during this year. Efforts are being made to evolve into a company that emphasises on innovation to offer a mix of ready-to-drink and health products. He ruled out any plan to acquire tea gardens, adding that the hunt for an instant coffee plant is still on.
Tata Global Beverages had entered into a joint venture with PepsiCo, called NourishCo, to introduce nutritional drinks in India.
The company has launched Water Plus, a nutritionally rich water brand that is being test marketed in Tamil Nadu and Andhra Pradesh.
“The national launch will happen only after the test market is established. Water Plus is water fortified with iron, zinc, chromium and calcium. There is a road map, which has been identified and Ratan Tata has contributed to it. It is a strategic and long-term plan. So, it will be difficult for us to divulge the details. Coffee and water, which are newer categories for us, are going to grow,” chief executive officer and managing director Harish Bhat said.
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