Tea firm Goodricke Group today said it is planning to enter the ready-to-drink segment by the year-end.
"We are planning to introduce ready-to-drink in four flavours including peach, lemon and orange," Goodricke Managing Director and CEO A N Singh said here today on the sidelines of its AGM.
Singh indicated the new products would be priced below the rivals Pepsi and Coca Cola.
Goodricke would be the new kid on the block in the Rs 4,000-crore non-carbonated cold drink market which is expanding by 35 to 40 per cent.
Tata Tea in the recent past had entered the segment with brand T!ON in apple, mango and peach flavours.
The company was targetting greater presence in retail and direct selling and expanding retail presence at malls, and cash and carry stores. The company has also begun online ordering.
Singh said packet tea which presently accounts for four to five per cent of its revenue would be doubled in two to three years.
