City-based tea exporter Madhu Jayanti International Limited (MJIL) plans to capture 15 per cent of the tea bag market in India in the next three years.
"We are planning to capture 15 per cent of the tea bag market in the country in the next three years", executive director of MJIL Sumit Shah said.
The company would test market the new brand 'TE-A-ME' in various parts of the country through modern trade channels initially, after which the product would be formally launched, he told reporters here today.
He said the company had acquired assets of Balmer Lawrie's tea business.
Shah said the company's assets were acquired sans the 'Indian Summer' brand which was not sold.
"There are no plans to acquire the brand at the moment," Shah replied to a query.
With a turnover of Rs 350 crore, MJIL exports tea to 42 countries across the globe. It has operations in the UK, Russia and West Africa.
