Home-grown coffee brand Levista aims to double its share in the domestic instant coffee market by March 2022, said its vice president S. Shriram.
“Currently, we enjoy a market share of 2.5% of instant coffee market valued at ₹2,200 crore. We hope to end the current fiscal at 3% and capture 5% by March 2022,” he said.
To achieve this , Levista plans to more than double the number of outlets in Tamil Nadu and Karnataka from 42,000 to one lakh units, besides increasing the number of modern trade outlets across the country from 1,000 to 5,000. The firm also plans to enter A.P. and Telangana in the first quarter of FY22, and NCR, Himachal Pradesh, Uttarakhand, Rajasthan and Punjab.
“Even during the first quarter of FY21, we grew by 30% as most of the office goers stayed indoors or workers got stuck in towns, due to Covid-led lockdown and the consumption increased. We saw 50% jump in homes and 100% in some towns. Going by the trend, we might end the current fiscal with a 40% growth over FY20,” he said.
Mr. Sriram was in the city recently to launch ‘Flavored Coffee’ in four variants such as vanilla, caramel, hazelnut and choco-orange and a fifth variant ‘Supreme’ with 30% chicory.
Asserting that exports accounted for 10% of revenue, he said that their plans to enter the European market was hampered by the second wave of Corona.