Tata Coffee Ltd plans to emerge as the number two brand in the packaged coffee segment, said Hamid Ashraf, managing director, Tata Coffee Ltd. Addressing a press conference here on Wednesday, he said the company over the past four years had strengthened its brand equity with the launch of Mr Bean and had several plans to increase its marketshare considerably in the coming years.
He said the company had clocked a turnover of Rs 180 crore for the fiscal 2003-04. In the next few years, the company plans to achieve a turnover of Rs 500 crore. The ultimate aim of the company is to emerge as an FMCG firm in the domestic market.
Tata Coffee will be reducing its commodity business and will focus more on products. He said that Tata Coffee was currently one of the leading exporters of instant coffee and would focus more on such products in the future other than focusing on selling coffee beans. The company plans to increase its value addition business from the current level of 60% to 100% in the next two to three years, he added.
He said that there had been significant growth in ‘Jiffy’, the coffee vending business. There has been a spurt in instant coffee business with the company registering a growth of 30% in exports in the first half of the current fiscal.