Hoop launches $15 million investment in sparkling and still water market

Warsaw-based beverage manufacturer Hoop has launched its own brand of sparkling and still water under the name Arctic. It first appeared on the market in half and two liter bottles, but yesterday production of 1.5 liter bottles began. Hoop vice-president Marek Jutkiewicz says sales have surpassed expectations. Hoop plans to invest $15 million this year expanding storage area at its plants. Hoop is aiming to boost turnover from zl.180 million to zl. 300 million and some of it will go into increasing its market share from 10% to 15% by pricing Arctic lower than its competitors' products. The beverage company PPH Zbyszko says, however, that its products are 15% to 20% cheaper than Hoop's products. In August, Hoop will start manufacturing an energy drink called Koop. For this new investment, to compete with foreign competitors such as Isostar or Red Bull, the company received financial backing from Polish Pre Ipo Fund, which holds a 29% stake in the company and has decided to postpone Hoop's planned initial public offering. (Puls Biznesu, page 8) P.S.