The fast-Moving Consumer Goods (FMCG) giant, Unilever and the Soft drink giant Pepsico has renewed their joint partnership with the launching of Lipton Ice Tea into the Nigerian market.
Following the introduction of the Lipton Ice Tea in 2003, however, it turned out that the product was ahead of its time as consumer insights revealed there was a gap between intent and action when it comes to consumption of healthy beverages.
Meanwhile, the product was reintroduced with increasing health awareness particular, young urban adults looking at healthier options such as ice tea among beverage consumers.
It was explained that the Lipton Ice Tea drink vary in a PET bottle with variants such as Peach, Lemon, Mango, and Green Tea and Orange.
The joint venture company will use PepsiCo’s bottling facilities and distribution networks and Unilever’s famous tea brand and recipe.
According to statemnet on the new launch, it was said that, the agreement to relaunch the Lipton Ice Tea was when rival Coca-Cola completed the full acquisition of Chi Ltd, three years after buying 40percent stake in the juice and snack company. Chi also has Chivita Ice Tea Lemon brand in the Ice Tea segment of the market.
CHI Ltd has continued to dominate ready to drink ice tea segment, the company leverages on its strong brand equity in juice, with consumers seeing its ice tea brand as an extension of the portfolio.
In 2003, PepsiCo and Unilever formed a global 50:50 joint venture – Pepsi Lipton International – to manufacture and market Lipton Ice Tea variants in 67 countries.