Parle Agro launches Cafe Cuba to re-enter carbonated drinks market
Fast moving consumer goods major Parle Agro Tuesday re-entered the Rs.15,000 crore-worth carbonated soft drinks (CSD) segment, 20 years after it sold brands like Thums Up and Limca.
"We are excited to be creating a completely new category for the CSD segment," said Prakash Chauhan, chairman and managing director, at the launch of new beverage offering, Cafe Cuba.
"We have spent a great amount of time and effort in creating a product that India truly wants and we feel this is the best time for us to enter the market."
According to the company which manufacturers beverages like Frooti and Appy, the new drink which is currently available in 250 ml cans priced at Rs.20 and blends flavour of roasted coffee beans with strong carbonated fizz.
The company said that the launch will allow it to target a turnover of Rs.5,000 crore from the current mark of Rs.2,000 crore.
The company will also expand its distribution from the current eight lakh outlets to 1.5 million.
(Posted on 24-09-2013)