China’s cold drinks market is worth £16bn a year, while Lucozade has annual sales of £400m.
Glaxo consumer healthcare president, John Clarke, said: “This agreement marks the first in a series of steps we’re taking to expand into new and emerging markets. We will now have significant new scale in China.”
Although now positioned in its home market as a sports or energy drink, Lucozade will be going back to its roots when it arrives in China, as it will be marketed initially as a health drink.
Lucozade now has a 50% share of the sports and energy drink market in the UK. It’s also market leader in Ireland, west Africa and Hong Kong.
© FoodBev Media Ltd 2020