V expands into $1 Billion UK market
April 16 2000
V expands into $1 Billion UK market
Leading New Zealand designer beverages company, Frucor Beverages, today announced it is launching Australasia’s number one energy drink V into the highly lucrative NZ$1 Billion UK market following extensive consumer research.
“V is our runaway success story,” said Frucor Beverage’s Chief Executive Officer Mark Cowsill. “The brand has triumphed in New Zealand, Australia and South Africa and now we’re going to take the UK by storm.
“V has already established profitable and rapidly growing markets in New Zealand, Australia and South Africa, and with the potential of the huge and lucrative British energy drinks market, this is an enormous opportunity for V and Frucor Beverages. Once we’re established in the UK, we will also explore launching into other European markets,” he said.
The success of V in the southern hemisphere, and its new-won ability to initially reach more than 45,000 outlets in the UK, means Frucor Beverages is strongly positioned in the energy drinks market, one of the world’s fastest growing beverage categories.
Frucor Beverages’ UK distributor, Petty Wood & Co Ltd’s Chief Executive Officer, Tony Noble, said: “retailers are keenly awaiting V’s introduction based on its resounding success in other parts of the world. Initial feedback from leading retailers clearly shows their confidence in V’s success. Key factors are its unique taste and positioning, and in Frucor’s comprehensive marketing investment plan.”
V has already secured listings with about 20 leading retailers, wholesalers and forecourt operators. It is also holding ongoing discussions with a number of other large retailers. Mr Cowsill says this response is exceptional. “It is well ahead of our initial expectations. We have already formed crucial relationships with key retailers in the UK. Working with the large retailers is critical to ensuring V makes a impact in the market”.
Mr Cowsill says V has had a meteoric rise since its initial launch in New Zealand in August 1997.
“In just three years it now has more than 60 percent of the energy drinks market in New Zealand. This is a superb result given the rapid growth of the market and the introduction of competing brands. Consumers now spend nearly twice as much on V than on all other energy drink brands put together.”
V was launched in Australia in February 1999. Within three months it became the leading energy drink. It now also has more than 60 per cent market share of the energy drinks market, and sales in Australia currently exceed those in New Zealand. South Africans were introduced to V in October 1999.
“Our success in New Zealand and in other international markets has been driven by the uniqueness of the product, the strength of our distribution networks and our sales and marketing programmes,” said Mr Cowsill.
Frucor Beverages developed V after identifying the opportunity to offer products in the high-value niche energy drinks market.
Its introduction responded to research which showed consumers’ need for an effective ‘ready to drink’ pick me up to enhance energy levels to meet their busy, modern lifestyles.
The product contains Guarana, a natural plant extract stimulant from the Guarana berries of South America. This combined with the well-proven benefits of Vitamin B’s make the product an effective vitality booster for the mind and body.
“Think of it as your mid-afternoon wake up call,” said Mr Cowsill.
V is an energy drink and dietary supplement containing Guarana and the B Group of Vitamins B2, B6 and B12, vital for overall and good health.
Released on behalf of Frucor Beverages by Porter Novelli.
For further information please contact:
Mark Cowsill Neil
Managing Director Porter Novelli
Frucor Beverages (021) 652 854
Tel: 09 250 0100
Mobile: (021) 742 421