NEW DELHI: Global Beverages giant Coca-Cola’s India arm launched a new version of its popular Maaza brand on Tuesday.
The new Maaza Gold, Coca-Cola India said, will help the Maaza brand become a $1 billion business by 2023.
“With the launch of Maaza Gold, the company is expanding its product portfolio in line with consumers taste. The company at the same time is also accelerating Maazas journey towards becoming a homegrown billion dollar brand by 2023,” Srideep Kesavan, Director Marketing -Juices, Coca-Cola India & South West Asia, said.
The expansion of the brand’s product portfolio is also set to increase domestic procurement in the India market significantly, the company claimed.
“In 2023, if Maaza becomes the first $1 billion juice drink brand from India, the Coca-Cola system in India will be able to procure 2 lakh tonne of mango pulp annually, worth nearly Rs 1,100 crore, thereby helping 1,00,000 farmers,” it said.
Currently, Coca-Cola along with its bottling partners procure approximately one lakh metric tonnes of mango pulp annually in India. As for the new variant, the company said Maaza Gold offers a thicker and smoother mango drink.
The company is not limiting its expansion of Indian brands in its stable to Maaza alone. Last month, Coca-Cola India said it expects Thums Up to be a $1 billion brand in the next two years. It also recently introduced a new variant Thums Up Charged.