TIL Desk/Business/Mumbai-As part of its strategy to almost double its revenue to Rs 5,000 crore by 2018, Parle Agro is extending its flagship brand Frooti to the sparkling fruit juices segment.
“In 2005 we launched sparkling fruit juices with Appy Fizz. We launched it originally as a niche product but over time we saw the acceptance of the product,” Parle Agro Joint Managing Director and Chief Marketing Officer Nadia Chauhan told. “As we looked at our growth plans, we wanted to expand this portfolio and we have launched Frooti Fizz, a sparkling mango juice drink,” she said.
“We have high expectations from this launch. We believe that it is going to be a large contributor towards our Rs 5,000 crore overall revenue goal by 2018,” she said. Parle Agro, a Rs 2,800 crore company, dominates the sparkling fruit juice category that is estimated to be under Rs 700 crore with more than 99 per cent share, which is growing at 25 per cent.
