Kolkata, Sep 1 (Inditop.com) Tea major Tata Tea will be focusing on global distribution expansion in the Middle East, South America, South Africa and the Commonwealth of Independent States including Russia, a top company official said here Tuesday.
“We would look at expanding our global distribution in these four regions through joint ventures or partnerships,” said Tata Tea chief executive P.D. Unsworth while addressing shareholders at the company’s 46th annual general meeting.
Maintaining that Tata Tea would work on globally establishing four brands – Tetley, Tata Tea, Good Earth and Himalaya – Unsworth added: “We will be focusing on adding value to products.”
The company earns 70 percent of its revenue from overseas operations.
Apart from its global plans, Tata Tea’s regional focus will be on brands like Vitax, Jemca, Eight O’Clock Coffee, Chakra Gold, Gemini and Kanan Devan.
The company also expects tea prices to go up following the poor monsoon. “In the current year, there will be rise in commodity prices due to poor monsoon. Tea prices will go up. There will be bad crop due to shortage of rainfall,” Tata Tea chairman Ratan N. Tata told shareholders.
“So we are looking at expanding operations and adding value for customers.”
Emphasising that Tata Tea was no longer a tea company, he added: “It is a beverage company. We are now into branded products like coffee, water and ready-to-drinks.”
Tata Tea’s total last fiscal stood at Rs.4,907 crore, while net profit was Rs.701 crore.
