Ahmad Tea hopes to boost sales with Ocado supply deal
Ahmad Tea is using a supply deal with Ocado as a launchpad to boost sales to 200 million US dollars (£163 million).
The family run premium tea company is to see its dessert tea collection stocked in the online grocer, its first foray into British supermarkets.
Managing director Ali Afshar told the Press Association that Ahmad Tea, which is predominantly sold in the Middle East, plans to ramp up revenues from 120 million US dollars (£96 million) to 200 million US dollars (£163 million) over the next five years.
"Over the next five years, I see us turning over 200 million US dollars. We're seeing strong growth in Iraq and the US has become a priority market for us," he added.
The British firm, founded in 1986 and based in Southampton, exports to more than 80 countries and holds a 2% market share of the global tea market.
Mr Afshar said that while the group, which employs 1,000 people, has received interest from venture capital firms, "outside funding isn't necessary".
He added that millennials have helped boost sales of herbal teas by 43% in the past eight months.