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Is water industry dominated by Kinley/Bisleri? Is there any space for new brands?

Water industry is commodetized and there is barely chance of competing with low margins . Water industry is distribution game. What can be innovative is ads on bottle just like in US but it's not sustainable as well

Why it's not sustainable?

People would rather pay and buy a labelled bottle not ads one, its not sustainable because if some one copied it then revenue will be diverted and divided causing problems with distribution and network

That's a game of competition & execution not sustainability. People can buy a Bisleri with a small strip of clean & neat advertisement just down below there big strap. I guess it's just their legacy won't allow them to do it.

The sustainability was for business model and if it is sustainable then how would businesses run?

Run on execution, vision, sales, tight grip on distribution.

Requires lots of investment with minimal margins and low ROI, now say what you think

Bhai search for more revenue models like b2b sales for corporates, stadiums, movie theater, etc Advertisement, put labels on the bottles. Direct sale into distribution.

Don't You think bisleri/kinley knows this, in such b2b places you can't enjoy Margins if not scaled in level of bisleri

Free marketing also.