Maaza – a mango-based drink popular among millions of Indians for decades – has joined the elite club of brands that boasts of billion dollar revenues. Conceptualised and developed in India, now owned by the US behemoth Coca-Cola, Maaza has turned into a “billion dollar brand”, a top executive said today.
According to James Quincey, Chief Executive Officer of The Coca-Cola Company (Coke), Maaza emerged as a new billion dollar brand for it in 2024. “Maaza is now our 30th billion dollar brand. In 2024, our system added approximately 440,000 outlets by digital customer platforms in India, which provides more opportunities to better tailor our product, price and packaging offerings,” Quincey told the stakeholders in a post-earnings call on Tuesday.
Maaza’s emergence as a priced possession for Coke is no mean a feat. Born in 1976 in India, Maaza finds its association close with India’s then de-facto Cola King Ramesh Chauhan of Parle (now Bisleri International). Over the years since its launch Maaza, along with its sister brands like Gold Spot, Limca, Citra and Thums Up, had already established itself as a widely popular choice among Indian consumers. However, by 1995 Maaza found itself a new owner, arriving among the first sets of US multinationals post-liberalisation, Coca-Cola.
Over the last three decades Maaza’s growth held steady against the influx of competing fruit-based beverage brands both from Coke’s rivals in the market and its own stable. “Despite a flurry of fruit-based drinks in the market now, Maaza has curved out a space for itself that is not easy to steal. Its presence in consumer mindset transcends generations,” says a senior FMCG executive who had led the expansion of Maaza in the past.
According to him, Maaza proves the strength of Indian brands that, if done right, then can withstand global competition and the test of time. The only other Indian beverages brand that boost of a billion dollar or more in sales is Thums Up, which despite challenges from global fizzy drinks giants like Coca-Cola and Pepsi Cola, among others.
“In India, our business rebounded nicely during the quarter and we grew volume. We recruited consumers with innovative marketing campaigns that linked Coca Cola with music, Sprite with travel and Thumbs Up with movies,” Quincey further adds.