XXX Energy Drinks targets 30 percent market share

NEW DELHI - Indian energy drink manufacturer XXX Energy Drinks Pvt. Ltd. Saturday said it was looking to corner 30 percent of the Rs.175 crore energy drinks market by the next fiscal year.

“I am confident and hopeful that we will be able to achieve the 30 percent market share of the energy drinks markets by the next fiscal year,” vice chairman of the diversified JMJ Group Sachin Joshi told IANS.

The company recently launched the third variant of his energy drink ‘Minus, which is claimed to be the worlds first-of-its kind drink that combines fat burning capabilities with a burst of energy.

We are focusing on the youth and fitness seekers, who currently consist of 200 million in the country, Joshi said while reiterating that the company will also focus on building capacity and distribution centres across the country.

According to him, the company has already earmarked $20 million for the next fiscal for implementing brand promotional activities and expanding production capacity.

Last year we invested $8 million, followed by $10 million this year and for the next fiscal year it will be $20 million, he said.

The company, which is a subsidiary of the Rs.1,000 crore JMJ Group, currently has two manufacturing facilities at Dubai and Pune. It is also looking to expand its presence in other Asian and African countries, including Pakistan, Afghanistan and Iran.