Kolkata, March 30 (IANS): City-based tea grower Goodricke Group Ltd on Monday said it will gradually shift its focus towards branded teas as it ensures a steady flow of income.
"We will now gradually shift our focus to branded teas as this business gives a steady flow of income, though the returns are not high," said MD and CEO A.N. Singh.
He said competition in the branded tea segment is huge and big investments are required to create and sustain brands.
"We will increase the sale of branded teas by 0.5 million kg each year," he told media persons after the company's AGM.
The company reported to be selling around 7.5 million kg of branded teas in packs while the portfolio of the existing branded teas is presently contributing to 20 per cent of overall sales if the company.
Its exports accounted for four million kilos in 2014, which had tripled over the last five years.