The Israel-based Wissotzky Tea Company, which was founded in Russia some 150 years ago, is now returning to Russia to market its wide range of teas.
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The first stage calls for importing the tea from Israel. It will later be produced by new plants to be set up in Russia, to be marketed under the Wissotzky label, according to a report by Yediot Ahronot.
Wissotzky’s move to Russia is part of a new strategy aimed at penetrating new markets, in view of the huge potential of the Russian tea market, estimated at an annual growth rate of 200,000 tonnes, compared with the limited potential for growth in Israel at 2,500 tonnes per year.
At present, Wissotzky holds 80% of the tea market in Israel and any further expansion on the local market is quite limited.
In addition, the entry to the Russian market takes into account the fact that there are no dominant competitors. Wissotzky plans to introduce on the Russian market with special tea products for the medium-priced and premium-priced categories.
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By GlobalDataBy Aaron Priel, just-food.com correspondent
