Tata Global Beverages Ltd, which sells Tetley Tea and Eight O'Clock coffee, and the Indian arm of soft drinks major PepsiCo Inc, today launched a new product of their joint venture NourishCo Beverages Ltd – a nutrient-enriched water called Tata Water Plus.
The new company will expand its product portfolio of healthy products rapidly, with a new variant of Water Plus to hit the market in the next six or seven months.
"We expect that by 2016, the joint venture's turnover would touch Rs700 crore with our product portfolio, which will be enhanced by then," Tata Global Beverages vice chairman RK Krishna Kumar said.
''There is a growing trend towards health and wellness in the beverages category,'' said Ashok Namboodiri, chief of sales and marketing at NourishCo Beverages Ltd. ''We believe there is immense potential, which will evolve over a period of time.''
NourishCo currently sells GlucoPlus, a glucose-based energy drink, and Himalayan mineral water in India.
Tata Global's sales may grow 7-8 per cent in the year ending 31 March 2012, Krishna Kumar said. This compares with a 3.5 per cent increase to Rs5,980 crore ($1.2 billion) a year earlier.