Parle Agro which makes fruit-based drinks and bottled drinking water brand plans to be a ₹5,000-crore company by next year.
A de-growth in the synthetic carbonated soft-drink space and increasing popularity of fruit-based ones have seen Parle Agro increase its market share year-on-year. The company will look to close the current year around ₹4,200 crore.
According to the statements by Nadia Chauhan, Joint Managing Director and CMO, Parle Agro, “We are also open to brand extension and portfolio expansion with more fruit-based offerings. But will go slow, as it does not want to launch “me too” products.”
“We will, of course, try and expand the portfolio. I think that’s something important to us. But, unlike a lot of other companies we are not the ones who will go on introducing many products at a time. We take our time. Our agenda is to introduce products with a difference, which are not me-too or a copy of an existing one. Such innovations take a long time to establish and we have quite successfully done that,” she added.
Similarly, earlier this year, it launched ‘Frooti Fizz’ (its mango-based fizzy fruit drink) — the first extension of its most popular and largest revenue generating brand, Frooti — in 32 years.
The FFSD (or fruit flavoured still drink) category in India is pegged at ₹5,500 crore, with the mango-based drinks occupying 85 per cent of the market.