V Energy drink takes on Spain
Frucor Beverages today announced that Australasia’s most popular energy drink, ‘V’, will soon be available in Spain, thanks to a partnership with Frucor’s sister company, Orangina Schweppes.
Frucor Managing Director Mark Cowsill says launching ‘V’ to the Spanish market is another significant step towards achieving Frucor’s plan to make ‘V’ a global brand.
“V is a truly Kiwi innovation and it has enjoyed huge success in New Zealand and Australia. In fact I believe it is probably the most successful consumer product launched in New Zealand in the last 30 years,” he said.
“The acquisition of Frucor by Suntory last year has opened doors for us in the international marketplace. Suntory’s support, knowledge and networks will be invaluable for Frucor as we up our focus on the global growth of our brands and business over the next five to ten years.
“We are very excited by the strong interest and response we are seeing internationally. The Spanish market for energy drinks is showing solid growth, yet it is still relatively underdeveloped compared to the rest of Europe.
“This provides us with a great opportunity, particularly given our relationship with Frucor’s Spain-based sister company Orangina Schweppes,” he added.
‘V’, developed by the Frucor team in South Auckland and launched in New Zealand in 1997, is currently available in 18 countries, including New Zealand, Australia, the UK, Holland, Sweden and Argentina. It is the market leading energy drink in Australia and New Zealand, with around 40% and 60% of market share, respectively.
Frucor’s General Manager International, Scott Johnson, last year moved from his New Zealand based role with Frucor, and he is now based in Amsterdam, working closely with Orangina Schweppes to launch ‘V’ to the Spanish market.
“Orangina Schweppes have excellent networks and local market knowledge – these are very important if we are to successfully establish ‘V’ in Spain,” he said.
“We have learnt a lot through our experience with ‘V’ in the UK, Holland, Sweden and Argentina, and we are using this knowledge, as well as the insights we have gained over the last three years through our extensive market research in Europe,” he added.
The expansion of ‘V’ into Spain will add to Frucor’s current annual exports of approximately NZ$250 million worth of beverages a year.
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