FMCG major CavinKare has launched India’s ‘first’ ready to serve fruit milkshake. CavinKare is the first company to foray into this segment, company’s Chief Managing Director, CK Ranganathan told reporters here.
“We are the first to enter the fruit milkshake segment,” Ranganathan said. “In the market, flavoured milk is available only with flavour of apple or flavour of mango. There is no combination of milk, honey and real fruits available in the market. It is a tricky product; cannot be developed easily,” he said.
The product will have a shelf life of six months without preservatives, he claimed. CavinKare is already present in the milkshake market. The firm has already invested Rs 40 crore in milkshakes and had “lined up additional Rs 30 crore for fruit milkshakes and further line extensions”, Ranganathan was quoted as saying.
To a question, Ranganathan said the company’s turnover was Rs 75 crore in the milkshake segment and that the target was to double it with the help of the latest offer. Cavin’s Fruit Milkshake, available in mango, apple and guava, will be priced at Rs 25 for a 200 ml pack, he said adding the company will be “forced” to hike prices only if input costs go up.
“However,I don’t foresee any increase in the price for the next one year,” he said. Cavin’s Fruit Milkshake was launched across Tamil Nadu today and the company said it was planning to cover the rest of the southern states in three months followed by pan-India coverage by the end of this financial year.
CavinKare, a Rs 1,200 crore turnover FMCG company, handles various portfolios including shampoo, hair wash powder, fairness creams, hair colours, dairy and retail salon products.