Lahori Zeera – Can the Disruptive Indian Beverage Brand Challenge Global Giants?
| Case Code: MKTG480 Case Length: 16 Pages Period: 2017-2025 Pub Date: 2025 Teaching Note: Available |
Price: Rs.400 Organization : Archian Foods Private Limited Industry : Food & Beverage Countries : India Themes: Business Level Strategies, New Product Development, Strategic Planning,Disruption |
Abstract Case Intro 1 Case Intro 2 Excerpts
Excerpts
The Indian Beverage Market – Ready For New Formulations
At the time the cousins were experimenting with their beverage, the Indian non-alcoholic beverage market was valued at US$ 110 billion and was growing steadily. The key market segments in the Indian non-alcoholic beverage market are given in Figure I for Key Market Segments. The market was dominated by CSDs, primarily Pepsi and Coca-Cola – both of which were giant multinationals that sold western flavors and had decades of brand recall. These products mostly catered to urban consumers, leaving a large untapped market, namely, rural and semi-urban India. The other key segment was the Fruit Juices & Packaged Beverages, which was primarily dominated by mango-based options. .
Zeera’s Market Launch
Lahori Zeera contained edible floating particles, which the cousins thought would be a challenge to market. Munjal said, “It was difficult for people to accept a unique formulation with visible ingredients. But it’s not just sugar; it has electrolytes, spices, and healthy condiments.” The sugar content was similar to that of CSDs, but there was no indication of caffeine in Lahori Zeera. Munjal said, “Anything that is packaged, has preservatives. Whatever we put in our beverage, is on the label. So, anything that you would want to read is on the label and there is nothing away from that. What that literally means is whatever the standards are, we match and go above and beyond those standards.” The cousins believed that if Lahori Zeera was made accessible in a clean and hygienic format, people would take to it. Thus, Lahori Zeera was packaged and sold in hygienic PET bottles..
Zeera Makes Its Mark
Within a very short time, Lahori Zeera had become a household favorite in northern India, especially for in-home consumption. The company grew rapidly and within a span of two years, i.e. 2019, it was able to scale rapidly to 20,000 retailers across north India, primarily in states such as Punjab, Delhi, Haryana, and Uttar Pradesh. Almost 99% of Zeera’s sales came from kirana stores. Doda said, “The product has gained mass acceptance because we’ve turned a popular ethnic flavour into a carbonated drink and bottled it.”..
Future Growth Strategies
In May 2025, in a Series B round, Zeera raised capital of Rs. 2 billion from Motilal Oswal Financial Services Limited (MOFSL) , which took its market capitalization to Rs. 28 billion. Zeera intended to use the fresh capital to establish a national footprint. It sought to grow not by building new factories, but by forging partnerships and achieving smarter unit economics..
What’s holding zeera back?
Several analysts thought that Zeera was a small player that still had a long way to go before being counted as a worthy competitor to the global cola giants. Talking about how Zeera operated in a sub-segment of the CSD market – Ethnic/Traditional Flavored CSDs, Ajimon Francis, MD India, Brand Finance Francis said,..
The Road Ahead
Industry observers stated that Zeera’s sales were primarily driven by impulse purchases, fueled by strong visibility, low price, and consumer trust. Over 95% of its sales came from general trade and traditional trade channels, while modern trade accounted for less than 1% and quick-commerce less than 0.1%. As of 2025, Zeera’s products were available in 18 states in over 500,000 retail outlets and were supported by a network of 2,000+ experienced distributors..
Exhibits
Exhibit I: A Brief History of Apple
Exhibit II: Data-driven Advertising Models: An Overview
Exhibit III: The 2018 Cambridge Analytica Scandal: A turning Point in Data Privacy
Exhibit IV: GDPR & CCPA: Milestones in Data Privacy Regulation
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