Coca-Cola Invests $14 Mln To Launch Dasani Water Brand in Argentina
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: November 11, 2005
U.S. Coca-Cola Invests $14 Mln To Launch Dasani Water Brand in Argentina
La Nacion - Argentina U.S. soft drinks maker Coca-Cola announced that it invested $14 mln (11.9 mln euro) in the introduction of its mineral water brand Dasani in Argentina, it was reported on November 10, 2005.
The new product will help Coca-Cola in its strategy to capture a market share of approximately 30 pct in this segment, which has sales of close to 700 mln Argentine pesos (599 mln euro) a year.
The leading mineral water group in Argentina has so far been French based food giant Danone, with its brands Villavicencio, Villa del Sur and Ser, holding a market share of close to 50 pct. Argentine company Bemberg holds close to 30 pct of the market with its brands Eco de los Andes and Glaciar.
Currently Coca-Cola holds a 10 pct market share with its brand Kin, the CEO of Coca-Cola's mineral water arm for Argentina, Bebidas Carbonatadas de Coca-Cola de Argentina, Esteban Gonzalez Treglia, said.
Dasani was introduced at the same time in Chile, Peru, Bolivia, Paraguay and Uruguay as part of the company's strategy to better use the potential of the Latin American market.