New Delhi, March 22 :
New Delhi, March 22:
PepsiCo India Holdings Pvt Ltd hopes to break even soon, chairman-incumbent Rajeev Bakshi said today. He, however, refused to divulge details in this regard.
The cola major has pumped in 'close to $ 500 million in the Indian market so far,' he said at his first interface with the press after being tipped to take over the chairman's post. The process of transition at Pepsi began last June when Bakshi joined the company. Outgoing chairman P. M. Sinha retires on March 31.
'Pepsi has established itself as a brand leader in the last decade with a critical mass. In carrying forward the legacy, we have to look not only at the carbonated soft drink market, but a whole lot of beverages to emerge as a leading beverages company,' said Bakshi.
A lemon-flavoured variant of Pepsi made its debut today. Called Pepsi Aha, (after Aha, Pepsi's punch word) it was unveiled by Shah Rukh Khan.
Aha, known as Twist in its Pepsi's international portfolio, will be available across the country in 300 ml returnable glass bottles (RGBs) priced at Rs 10 and in 500 ml PET bottles and cans at Rs 15.
Bakshi said some more variants can be expected from Pepsi this year, including a few for its juice drink brand Slice. He said the company expects 10 to 20 per cent of sales of Pepsi to accrue to Aha, adding Pepsi has a total market share of 48.3 per cent in the segments in which it is present. He admitted it was only in the lemon drink category where Pepsi was trailing, as Mirinda Lemon had one-fourth the market share of Limca (a Coke brand).
On chances of the Aha variant cannibalising the main brand, executive director (marketing), Vibha Rishi said one third of users are expected to shift to the variant, whereas additional two third new consumers are expected for the same - a net gain for Pepsi.
Refusing to divulge details, Bakshi said in future, the firm will leverage brands such as fruit juice drink Tropicana and sports drink Gatorade. He indicated the possibility of bringing in Pepsi's iced tea in the future. The water brand Aquafina is in a stage of expansion, he said.
Meanwhile, rival Coke has lined up a TV commercial for Thums Up featuring Salman Khan, that takes a dig at Pepsi's lemon flavoured variant.