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.