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Coca-Cola ventures into tea drinks in Taiwan ( 2003-08-11 10:29) (Agencies)
Seeking to attract young and health-conscious consumers, Coca-Cola has ventured into Taiwan's growing cold tea beverage market. Coca-Cola began selling two bottled tea drinks on the island this week under the brand of its Taiwanese partner Ten Ren Tea, Jason Wu, president of Coca-Cola's Taiwan branch, said Tuesday. Ten Ren is Taiwan's biggest producer and retailer of tea leaves. While older Taiwanese still prefer to sip hot tea the traditional way, bottled tea drinks are increasingly popular among younger people. Last year, sales of bottled tea drinks totaled 13.5 billion New Taiwan dollars ($390 million) in Taiwan, nearly 40 percent higher than that of sodas. Coca-Cola's new green and oolong tea drinks will cater to the 25 to 35 year olds, Wu said. "This age group is generally more health conscious," Wu said. Coca-Cola has already marketed tea beverages in Japan and Chinese mainland.
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