Kolkata, Aug 30 (IANS) Tata Global Beverages is focused on growing globally and will in the near future enter the field of nourishing foods, Tata Group Chairman Ratan Tata said Tuesday.
‘The company has introduced several new products under specific brand that is going to achieve a name. So basically, when one looks ahead, the company is focused on growing in different geographies in new countries all over the world,’ Tata said during the annual general meeting of the company, formerly Tata Tea Limited, here.
‘There will come a time when there will be also a possible entry into nourishing foods and nourishments of all sorts. So this is going to be a company which is forward looking,’ he added.
Stating that the year under review has been challenging for the company because of the increase in raw material prices, which reached very high levels. But despite this, the company provided a stable set of results, he said.
‘We have also formed a joint venture with Pepsico called NourishCo Beverages which is going to produce non-carbonated ready to drink beverages focusing on health and wellness and this is going to be rolled out in the next few months,’ he said.
Informing that the company has signed an MoU with Starbucks, he said there was scope to supply tea and coffee to it and also to enjoy the scope of jointly retailing through the Starbucks outlets including stores in India.
‘We have also signed an MoU with Kerala Ayurveda which is a 50-50 joint venture again on wellness beverages and food products made from ayurvedic recipies and formulations,’ Tata said.
The company launched 8 O’ Clock Coffee in Europe and Tata Tea was launched in Germany, he added.
