With its sights set on building a strong global brand, Tata Tea Limited on Thursday said that it has decided to change its name to Tata Global Beverages Limited.
The Tata group firm has enhanced its product portfolio through "targeted acquisitions" as it aspires to be a formidable player in the FMCG category, said Chandrasekaran, who is also the chairman of Tata Sons. Besides, it has stepped up the pace of innovation across markets in line with consumer trends such as health and wellness and convenience, he said in his message to shareholders in the latest annual report of TCPL.
The branding exercise is estimated cost Rs 100-200 crore to the Tata Group.