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Now, Maaza eyes entry into billion-dollar club
Financial Express Mumbai
|November 02, 2022
FOLLOWING COCA-COLA'S THUMS UP & SPRITE | Coca-Cola is looking at ONDC to beef up India e-commerce presence
MAAZA, THE JUICE brand from Coca-Cola, is expected to enter the billion-dollar club by 2024. Two brands from the US beverage major, Thums Up and Sprite, have already achieved the status sometime ago. Coca-Cola in India is also looking at ONDC as a channel to beef up its e-commerce presence, while also aiming to offer more health drink options as a way to drive premiumisation.
Talking to reporters on Tuesday, Sanket Ray, president of India and Southwest Asia for The Coca-Cola Company, said: "We would like to have a juice brand getting into the billion dollar club, and we would love to have Maaza there. It should happen by 2024, but if it happens in 2023, it will be a bonus."
Ray said mango prices have touched significantly high levels, which have posed a significant challenge on costs, but the company is experimenting with different kinds of crops to control that.
The retail sales of Maaza were at ₹3,000 crore till August 2022, and the company is looking to close the year with around ₹4,500-5,000 crore, he added.
This story is from the November 02, 2022 edition of Financial Express Mumbai.
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