just On Call - Monster Beverage faces delays getting into India - CEO
The group is still eyeing a launch into India, despite delays over red tape
Monster Beverage has been delayed in getting approval to launch in India, but the group's CEO believes the country remains an “exciting” opportunity.
On a conference call with analysts yesterday (8 August), Rodney Sacks revealed the company is still facing “certain regulatory approvals” to sell its energy drinks in India, but said he anticipated the green light in “the near future”. He added: “We view India as an exciting future growth opportunity for Monster.”
Yesterday, Sacks revealed, following the group reporting a drop in first-half profits, that plans to start production in India are “progressing satisfactorily”.
Plans to start production in Japan and Korea are also “proceeding”, he added.
Monster is planning launches in other Asian countries later this year and “early” 2014. The group is also looking at expanding its footprint in Central and Eastern Europe later this year, Sacks said.
In Brazil, sales are “robust”, thanks to a distribution tie-up with AmBev, Sacks said.
On on-going legal issues, which has dragged down its profits, the Monster boss said there is litigation “continuing to go on”. He added: “I think we will see a reasonable level of costs being incurred in the foreseeable future until these matters settle down and we get to start going in one direction.”
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