CARABAO Group is bent on dislodging Red Bull from atop Britain’s 1.2-billion pound energy drinks market within 10 years.
Towards this aim, the company’s goal for 2018 is to edge out the Relentless brand to become the No 3 player in the key market – where about one billion cans are sold – by the end of the year. The Monster brand is the second biggest seller.
Relentless sells about 35 million cans of its energy drink in Britain each year.
Carabao’s vision is to become the No 2 energy drink brand in the UK by 2022, said Mark Young, managing director of InterCarabao Ltd, with its head office in Reading, England.
Young said InterCarabao was set up in the UK in mid-2016 as the entity in charge of sales and marketing activities for the Carabao energy drink range in the UK and other European markets. The brand’s entry in the UK market came at the start of 2017.
Young, who spent 21 years at PepsiCo, said sales of Carabao energy drinks in UK increased significantly last year, from about 100,000 cans a month to one million. A total of nine million cans were sold in the UK last year.
“Our mission is to deliver a delicious tasting soft drink for |every adult that empowers them to achieve personal goals.
While our vision is to aim to be No 2 energy drink company by 2022,” he said.
He said that the company expected to deliver 7.6 million cans in the first quarter of this year, and then an average of three million cans would be sold per month following major new listings.
“Between 35 and 45 million cans of Carabao energy drink are expected to be sold this year, while between 60 million and 65 million cans are targeted for 2019, and up to 100 million cans are expected to be sold in 2020,” said Young.
He added that up to 7 million pounds in investment would be allocated to marketing activities in the UK this year, excluding sponsorship deals.