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Chennai-based CavinKare has launched Cavin's fruit milkshake, a ready-to-serve, dairy-based beverage.
The fruit milkshake with honey comes in three variants — mango, apply and guava — and is priced at ₹25 for a 200 ml packet, CK Ranganathan, Chairman and Managing Director, CavinKare, told newspersons.
The company has already invested around ₹40 crore in milkshakes and has lined up an additional ₹30 crore and further line extensions. It expects revenue from milkshakes to double to nearly ₹150 crore next year, he said.
“It is a breakthrough and another milestone in the history of CavinKare. It is a not a flavoured drink but actual fruit pulp. Adding fruit in drink is a tricky technology and not easy to do,” said Ranganathan.
The fruit milkshake comes in a pack with a validity of six months from the manufacturing date. It will be available in nearly 1.5 lakh outlets, mostly in the South. The company is looking to add a few more fruit variants, he said.
In 2004, the company laid the foundation for a research and development centre, which is giving the benefit to the company with innovative products.
The fruit juice market is around ₹10,000 crore. “We will create a market for the new product,” he said.
Ranganathan said that the company’s next major expansion will happen outside Southern India. “Our target is to reach out to a million outlets in the next 18 months,” he said.
The ₹1,200-crore FMCG company has business interest in personal care, professional care, dairy, snacks, foods, beverages and salons.
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