During the year, we bolstered our distribution prowess, diversified our portfolio, scaled our key brands, along with streamlining and synergising our operations to amplify value.
INDIA BUSINESS PERFORMANCE
PACKAGED BEVERAGES INDIA
Tea delivered a four year CAGR of 9%.
We maintained our market leadership in tea in the e-commerce channel for the 36th consecutive month now.
Our premium and sub-premium brands grew ahead of our popular and economy brands in line with our premiumisation agenda.
Both our largest brands, Tata Tea Premium and Tata Tea Agni, recorded strong value growth during the year.
Coffee revenue grew by 29% YoY.
We launched Tetley Premium Black Leaf Tea with added long leaves and Tata Coffee Quick Filter Range of Decoction.
Launched Tea Gold Vita Care, a vitamin-enriched black tea, along with Immuno Chai, catering to health and wellness trends.
PACKAGED FOODS INDIA
Salt revenue grew by 9% during the year, recording the 4-year revenue CAGR of salt at 17%.
Value added salts grew by 34% and their contribution to the overall salt business was 9%.
During the year, the contribution from brands outside the classic Tata Salt (Orange bag) improved, accounting for over 12% of the salt business.
Tata Sampann delivered yet another strong year, growing by 45% YoY, with robust volume growth. The four-year revenue CAGR stands at 31%, in line with our targets.
By leveraging Tata Sampann’s equity, we entered a high-value, trust deficit category during the year such as Saffron and expanded the Dry Fruits range.
Tata Soulfull entered new categories with exciting new launches, expanding our total addressable market. Key launches during the year were No Maida Choco Stix, NutriDrink+, Millet Granola and Tata Soulfull Oats+.
RTD
Our flagship drink Tata Gluco+ registered a growth of 22%. Tata Copper+ continued to do well and recorded a growth of 44%. Premium Himalayan brand experienced significant growth over the year, expanding by 15%
Key launches during the year included-
Tata Gluco Plus Sports Drink, an isotonic sports drink in partnership with the Argentina Football Association.
Say Never! Energy Drink was launched in the energy drinks category for tapping into consumers’ need for functional beverages.
We strengthened the Tata Coffee Gold Cold Brew portfolio by rolling out cans for premium channels.
Profitability for the business improved significantly YoY, led by increased scale and strong cost management.
TATA STARBUCKS (50:50 JV)
During the year, we added 95 new stores and entered 20 new cities during the year.
Store expansion included expansion into Tier 2 cities, introducing more drive-thus, extending presence in airports, and enhancing 24-hour store footprint.
Partnered with Netflix India to collaborate on the movie ‘Archies’ for new Christmas Promotional drinks.
We were recognised in the Top 100 as 95 by Great Place to Work.
12%
Revenue growth for the year
NourishCo recorded
33%
Revenue growth during the year.
INTERNATIONAL BUSINESS PERFORMANCE
UNITED KINGDOM
Tetley became the no. 3 tea brand in the UK during the year.
We launched the new Tetley tea with a superior blend, plant-based tea bags, and recyclable packaging, delivering a step change in future-proofing the business and driving the sustainability agenda.
Our share in the fruit and herbal tea category in the UK reached 9.3% during the year.
We expanded beyond the beverage segment with launch of Joyfull Millet Muesli in the UK market. This was launched in 430+ Tesco stores across the UK.
UNITED STATES OF AMERICA
Tetley continued to outperform the mainstream hot black tea category
‘Eight O’clock’ our flagship coffee brand launched a standout brand campaign, which took a light-hearted look at the current coffee culture. This was the brand’s first ad campaign in almost 10 years – an effort to generate consumer pull towards America’s original gourmet coffee.
Good Earth and Teapigs continue to be amongst the fastest-growing speciality tea brands in the USA.
10%
Revenue* growth for the year
(5%)
Coffee revenue* growth for the year
*Constant currency
CANADA
Tetley regular black tea hit its highest-ever market share in December 2023 of 61.5%
The ethnic portfolio continued to gain momentum in both ethnic and mainstream channels.
During the year, Tetley outperformed both the regular tea and the speciality tea categories.
Secured listings for Tetley Live Teas in Metro, Walmart, Loblaw and Sobeys.
First tea company to join the Canadian Plastics Pact to further our commitment to ensuring packaging is fully recyclable and compostable. We also signed with the SEDEX to provide greater supply chain transparency and risk monitoring.
