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"Water at the moment contributes 1% to revenues, which the company plans to take to 10 %," Tata Global Benverages chairman Cyrus Mistry said today responding to a query from a shareholder during the annual gneral meeting of the company here.
Although, Mistry did not give any time frame, a company official said, the target is to be met in the next five years.
In water, Tata Global Beverages has its presence with Himalayan packaged water, which has been recently launched in Singapore at Starbucks outlets. The company has plans to take the brand to West Asia and parts of South-East Asia.
"We are always looking at new geographies keeping the long term growth in mind," Mistry said.
Besides Tata Water Plus, a fortified water brand from NourishCo,Tata Global Beverages's joint venture with PepsiCo, are also to be launched in several states of India in phases. Currently, the brand is in the southern markets of Tamil Nadu and Andhra Pradesh.
In tea, which accounts for 70 % of Tata Global Beverages's revenues, the company is looking at speciality segment like functional tea, which will be blended for particular physiological benefits.
"We are exploring new categories in tea. We are loooking into the functional tea segment," Mistry said.
In specialty teas Tata Global Benverages currently has a presence in green and herbal tea segment.
