With a 33% market share in the tea bag segment in the country, the “world’s finest teas”, is rolling out aggressive launches, low-unit packs.
KOLKATA: UK-based Twinings plans to acquire premium tea brands to expand in India.
With a 33% market share in the tea bag segment in the country, the “world’s finest teas”, is rolling out aggressive launches, low-unit packs, major geographic expansion and tie-ups with alliance partners in India over the next few months.
This, the company feels, will help it double turnover over the next three years. Market estimates suggest that while the premium end of the market is growing at 30%, Twinings’ growth has been over 40%. The company will be shortly setting up its second-manufacturing facility by the end of 2008.
Suresh Iyer, managing director, Twinings Pvt Ltd, said: “We will explore any possibility of acquisition, but the right target is important as we are positioned at the premium end of the branded tea market.
In India, it is difficult to get a national brand that will be willing to sell. Sometimes there could be other options where an international company may choose not to come into India and could ride on the Twining brand.”
Iyer, however, said there were no fresh talks between Twinings and the G P Goenka Group for acquiring their Rangli Rangliot brand. Speculations were rife over the past two years that Twinings could buy out the premium Rangli brand.
“The consumer has to move up the value chain and hence we felt the need to create impact with continuous launches. In fact, we will dovetail wherever modern trade happens,” Iyer said.
Already present with its famous variants like Earl Grey, Lemon, Darjeeling in India, the company is gearing up to be visible in the so-called health and wellness range and launch the entire green tea range apart from a range of herbal infusions like camomile and peppermint and traditional afternoon tea. It will also experiment with small size packs of 10 under its variants for a stronger reach.
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