After Thums Up And Sprite, Maaza Will Become The Second Billion Dollar Brand For Coca-Cola
November 4, 2022: Earlier, Coca-Cola expected Maza to join the billion-dollar club next year. However, weathering a spike in mango prices in 2022, the company now expects the same to happen a year later.
Coca-Cola India aims to achieve over $1 billion in annual sales revenue from its mango drink Maza by 2024.
It has already achieved the milestone of $1 billion in annual sales for its Thumbs Up and Sprite brands. Earlier, Coca-Cola expected Maza to join the billion-dollar club next year.
However, weathering a spike in mango prices in 2022, the company now expects the same to happen a year later.
Cola is upping its game in the premium hydration space through brands like Major Shakes and Smartwater and entering premium channels.
Besides, it is pushing its small-pack strategy to increase household penetration amid inflationary woes. Coca-Cola president (India and Southwest Asia) Sanket Ray said in a media roundtable that the rural market is expected to rebound due to favorable factors such as a good monsoon, booming job market and government investment on infrastructure generation. on Tuesday.
Last week, global soft drinks major Coca-Cola Company said its lemon and lime flavored soft drink Sprite has become a multi-billion dollar brand in the Indian market.
“We would love our juice brand Maaza to become a billion-dollar brand and that is clearly our ambition.
But it may take more time and may not happen next year. “With the rise in mango pulp prices, we don’t know how next year will shape up.
It would be good if it happens next year. But it should happen by 2024,” Ray said. In January this year, Coca-Cola had said that its Indian soft drink brand Thumbs Up would become a billion dollar brand in 2021.
Maza is a mango-based drink made from the pulp of the Alfonso variety. Asked about the current size of Maza’s business, Ray said, “We should end up around Rs 4,500 crore to Rs 5,000 crore this year.”
Maza was acquired by Coca-Cola from Parle Bisleri’s Ramesh Chauhan in 1993 along with brands like Thums Up, Limca, Citra and Gold Spot, when the Atlanta-headquartered company re-entered the Indian market.
When asked about the market dynamics after the entry of majors like Reliance Retail and Tata Consumer Products Ltd (TCPL) into the beverage segment, Ray said it is positive and will only help expand the range.
|Are you an
Entrepreneur or Startup?
Do you have a Success Story to Share?
SugerMint would like to share your success story.
We cover entrepreneur Stories, Startup News, Women entrepreneur stories, and Startup stories