In an effort to expand the international brand reach, Tata Global Beverages will reinvest in its own brand, according to The Economic Times. Cyrus Mistry, chairman of Tata Global Beverages claims this move will strengthen the brand.
Speaking to shareholders, Mistry said: “It is crucially important to grow our brands in India and overseas. There is also a need for innovations which need funds. Large foundations have been laid which need to be grown.”
Mistry assured shareholders that Tata’s brands, including Tetley Tea, Tata Tea, and 8’ O Clock Water were all economically successful brands. The joint ventures Tata has with Pepsico and Starbucks will also benefit from a refocus by the brand.
“In Starbucks, we are in an investment phase. The break-even will come in a couple of years,” Mistry said.
SOURCE: The Economic Times