Tata group chairman Cyrus Mistry, while addressing the annual general meeting (AGM) said that the company would make substantial investments in its brands for making the company grow.
Tata Global Beverages would make substantial investments in its brands for making the company grow, company chairman Cyrus Mistry said today. Mistry, who addressed shareholders in his new capacity for the first time, said:
"It is crucially important to grow our brands in India and overseas. There is also a need for innovations which need funds. Large foundations have been laid which need to be grown."
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He said that the company's brands, which included Tata Tea, Tetley, Himalayan water, and 8'0 Clock Coffee were doing very well, along with the joint ventures with Starbucks and Pepsico.
Mistry said that Starbucks has 17 outlets across the country and more would be added. "In Starbucks, we are in an investment phase. The break-even will come in a couple of years," he said.
The JV with Pepsico would also be strengthened, he said. Mistry said Tata Global (formerly Tata Tea) would get out of all non-core investments depending upon market conditions and requirement of funds.
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