Parle Products

In 1969 the Jayantilal Chauhan family of Parle Group acquired the struggling Bisleri brand for Rs 4 lakh (then about US$50,000), as the Italian founders looked to exit the Indian market. The acquisition was a strategic rescue of a brand whose Italian name, in Ramesh Chauhan's later telling, 'added a dash of class to it' — a soft intangible-asset purchase that decades later would become the umbrella brand for an entire category in India.

In the 1970s, Jayantilal Chauhan split his soft drinks business between sons: Prakash Chauhan obtained control of Parle Agro, while Ramesh Chauhan received Parle Exports (now Bisleri International). In 1976, Parle Exports launched Maaza, a mango-pulp fruit drink — building a portfolio of beverages alongside the still-nascent mineral water business.

After The Coca-Cola Company exited India in 1977, Parle Exports entered the carbonated drinks segment with Thums Up (cola), Limca (lemon-flavoured) and Gold Spot (orange-flavoured). To complement its soft drinks portfolio, Parle launched mineral and carbonated water under the Bisleri brand name — the first time the water business was commercially pursued, in PVC bottles initially, switching to PET in the mid-1980s.

Wikipedia records that India's 1991 liberalization saw Coca-Cola return to the country, and in 1993 Parle Exports sold its carbonated drinks brands Thums Up, Limca, Gold Spot, Citra and RimZim to The Coca-Cola Company for between Rs 125 crore (about US$40 million) and Rs 200 crore (about US$60 million).

In 1969 the Chauhan brothers Ramesh and Prakash acquired the brand for Rs 4 lakh and launched it in India in glass bottles in Bubbly and Still variants. Chauhan later told Business Today that selling packaged drinking water was never in his business plans — Bisleri Soda had demand from five-star hotels, which is why he bought out the company.

Chauhan expresses pride that Thums Up remains India's number one cola despite years of multinational competition. He frames it as 'a great feeling that Thums Up is still number one' and notes that the multinationals' own brands have not been able to overshadow Thums Up — vindication that the Indian-built brand had stronger consumer pull than the global parents who bought it.

BusinessLine records that in 1977, Ramesh Chauhan with brother Prakash and then-Parle CEO Bhanu Vakil launched Thums Up as the flagship cola. When Coca-Cola re-entered India in 1993, Parle sold Thums Up, Limca and Gold Spot to Coca-Cola for around $60 million — at a time when Thums Up held 85% market share in the Indian cola category.

Chauhan tells BusinessLine there are 'no regrets and no hard feelings' about the sale — calling it a 'simple business strategy' despite many critics at the time. He explains he did not have much choice because Parle was operating through a franchise system in which each franchise owned its own plant, and most franchises had already declared their intention to team up with Coca-Cola.

Chauhan emphasizes the structural simplicity of running a water business compared to a carbonated-drinks business: he no longer has to worry about glass bottles, sugar, citric acid, food colour or carbon dioxide gas. He is glad 'the headache has moved on to someone else', referring to Coca-Cola.