Goodricke Group to venture into ready-to-drink tea segment
One of India's foremost tea sector firms, the Goodricke Group Ltd is planning to venture into the value-added segment of ready-to-drink teas, by the end of this year. As a result, over a period of three years, the company's current six million kg sale of tea through packets will likely increase to ten million kg.
In 2008, the packet tea-related operations of Goodricke showed a sustained growth trend despite tough competition. The company has not only managed to set itself up as a lucrative business centre, it has also made inroads into new territories with the aim to fortify its presence at a variety of retailing ends. The company has also initiated the online ordering facility.
Elaborating on Goodricke's newly-announced move on the sidelines of the company's Annual General Meeting, Managing Director and CEO A. N. Singh said that the new ready-to-drink teas - which will initially be available in four flavors including orange, lemon and peach - would cost less than Coca Cola and Pepsi and Coca Cola.
Regarding the company's ongoing efforts in the sphere of ready-to-drink teas, to be produced at its instant tea factory at Aibheel in Bengal, Singh said: "We need some clearance from the government for introducing ready-to-drink teas in the Indian market and we are working on that."