JAMES QUINCEY
Coca-Cola earns $290 mn from India by divesting its bottling operations in Jan-Mar
In the March quarter, the Coca-Cola Company earned USD 290 million from India by refranchising its bottling operations in three key markets. Hindustan Coca-Cola Beverages divested its company-owned bottling operations in Rajasthan, Bihar, Northeast, and parts of West Bengal to existing bottlers, resulting in net gains of USD 293 million. Despite a 2 percent decline in unit case volume in the Asia Pacific market zone, the company saw growth in the India market.
Coca-Cola brass to visit India this week with a 200-member team
Coca-Cola CEO James Quincey and a team of executives are visiting India to explore growth opportunities. They will meet government officials, bottling partners, and discuss concerns about taxation under the GST regime. India and Brazil led growth in developing and emerging markets. Coca-Cola India's consolidated profit increased 57% to Rs 722 crore in FY23, and revenue from operations climbed 45% to Rs 4,521 crore.
Coca-Cola India business witnesses robust growth in 2023
In 2023, Coca-Cola's unit case volume grew 2 per cent, in which the developed markets grew 1 per cent, driven by growth in Mexico and Germany. "Developing and emerging markets grew 2 per cent, driven by growth in India and Brazil, partially offset by the suspension of business in Russia in 2022," the Atlanta-headquartered company said in its earnings statement.
Coca-Cola cracks the most elusive market in India - the country's hinterlands
Despite inflation posing a challenge for companies, Bajoria acknowledges its reality and emphasizes the importance of devising the right pricing strategy. Coca-Cola India aims to ensure that its products are appropriately priced for different consumption occasions, with particular attention to key price points such as Rs 10, 20, and 50, which hold greater significance in rural regions.
Consumer companies gear up to weather climate risk
Companies such as Swiggy and Zomato have tied up with weather forecasting agencies and in-house experts to ensure delivery disruptions are reduced. Additionally, Coca-Cola is adopting an all-weather strategy that includes home stocking of beverages and increasing trade discounts during extreme climate conditions.
India business adversely impacted by unseasonal rains: Coca-Cola
The April-June quarter is the single largest contributor to annual sales of beverage companies, contributing to close to 40% of annual sales. Unseasonal rains this year impacted sales of summer categories such as cold beverages and ice-cream.
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Coca-Cola registers volume growth in India in Jun qtr
The company gained value share in total non-alcoholic-ready-to-drink (NARTD) beverages in the Asia Pacific market, led by share gains in South Korea, India, Australia and Thailand, the statement said. India is the fifth largest market for Coca-Cola.
Coca-Cola's Global Chief James Quincey in India to take stock of 'resilient' market
An email sent to Coca-Cola seeking details and comments about Quincey's visit remained unanswered till press time on Wednesday. "India is a high priority market for Coca-Cola, with huge under-penetrated category potential, providing a significant runway for growth. Hence the importance of this market among company leadership," an executive with knowledge of the developments said.
Coca-Cola drove 3 billion transactions in India in Jan-March quarter
The soft drinks company said growth in developing and emerging markets was led by China, India and Brazil. India is the beverage maker’s fifth largest market.
Will old Campa Cola keep its fizz in a new world?
Campa Cola comes back when consumers are moving away from sugary drinks as more and more healthy beverages enter the market. It remains to be seen how a revived Campa Cola negotiates a world vastly different from the times when it ruled the Indian market.
India had strongest year ever: Coca-Cola Global Chief
Calling out the India team for a “stellar 2022”, Murphy added: “Early on in the year, our team was able to double down on both a couple of key categories and a couple of regions that were fuelling outsized growth.”
India is a market set to take off: Coca-Cola chairman James Quincey
The maker of Coca-Cola, Thums Up and Sprite fizzy drinks said its developing and emerging markets declined low single digits for the quarter and grew mid single digits for the year, but that the performance benefited from strong growth in India and Brazil.
Maaza to be another billion-dollar brand for Coca-Cola in 2 yrs; not worried about entry of Reliance
It expects the rural market to bounce back on the back of favourable factors such as good monsoon, pick-up in the jobs market and government investment on infrastructure generation, Coca-Cola President (India and Southwest Asia) Sanket Ray said in a media roundtable on Tuesday.
Sprite becomes billion dollar brand in India
Sprite is the second brand in Coca-Cola India’s portfolio to breach billion dollars in annual sales, after Thums Up cola. In January this year, Coca-Cola had said Thums Up had become a billion-dollar brand in annual sales in 2021 in India, Coca-Cola’s fifth-largest market globally.
Make profitability the priority, Coke COO tells India team
In its detailed earnings statement, the company said Coca-Cola India is emerging stronger on the back of strong recovery in "away-from-home" channels with improved mobility, focus on affordability and omni-channel growth.
Coke new president Sanket Ray flags core focus areas in 1st bottler meet
Ray also told the bottling partners that Coca-Cola has identified faster and deeper distribution in smaller markets, increased focus on profitability, and more investments in manufacturing of healthier beverages as key strategies the company will focus on this year, as the beverage maker readies for a crucial summer quarter.
Coca-Cola India FY20 results: Net profit falls 2% to Rs 619 cr
Coca-Cola India's revenue from operations rose 2,741.54 crore in 2019-20, up 18.63 per cent during 2019-20 as compared with Rs 2,310.92 crore a year ago.
Coke India to start voluntary separation exercise this week
The exercise is part of the global reorganisation the world’s largest beverages maker announced in August-end, when it said it will replace 17 existing business units with nine larger operating units starting January 1, 2021.
Intense India lockdown significantly hurt global sales: Coca-Cola CEO James Quincey
The lockdown in India started on March 25, impacting trade channels, manufacturing and last-mile deliveries and shutting malls, restaurants, hotels, cinema theatres, travel and live events – key points of sales for impulse consumption categories such as soft drinks.
Coca-Cola's bottling partner announces 7-8% increments; no salary reduction or lay-offs in India
With 15 factories in India, the asset-heavy HCCB which makes Coke, Sprite and Thums Up aerated drinks, and Minute Maid and Maaza juice, will follow the usual payroll cycle this year as well.
Coke’s unit gives salary hike amid COVID-19 chaos
Beverages maker Coca-Cola’s company-owned bottling partner Hindustan Coca-Cola Beverages has bucked the general trend of companies resorting to pay cuts and job cuts amid the Covid-19 pandemic, announcing 7-8% salary increment to its 7,000 direct employees with effect from April 1, 2020.
Lockdown in India hit Coca-Cola’s global volumes: CEO James Quincey
“In some markets like India, the severity of social distancing measures has negatively impacted consumption simply due to the significant reduction in shopping trips,” Coca-Cola global chief executive James Quincey said at a post earnings call.
Coca-Cola eyes better connect, to brand in local languages
Coca-Cola India president T Krishnakumar said Bengal is the first state where the entire portfolio and marketing initiatives of Coca-Cola brands have been hyper-localised to resonate with local language and suit consumer preferences. “The reason to start with Bengal is since it is amongst our top market and we have a self-sufficient supply chain,” he said.
Coke’s James Quincey talks retail tieups with Mukesh Ambani
“The discussion was about how Coca-Cola could come on board with Reliance for various sponsorships and furthering their retail association,” one of the officials said. “Typically, such associations drive higher footfalls for the retailer and in-store visibility for the brand.”
Slowdown hasn’t affected sales growth: James Quincey, Coca-Cola Chairman
The 128-year-old company has been trying to speed up the development of healthier alternatives as consumers shift from fizzy drinks to low- and no-sugar options globally. However, it said the carbonated drinks market continued to expand in India — its fifth-largest market by volume — helped by a host of reasons including smaller pack sizes and low-calorie variants.
Protests, riots hit businesses in varying degrees, India needs to solve problems in democratic manner: Coca-Cola CEO
Coca-Cola's Global Chairman and Chief Executive Officer James Quincey said that democracy is a big attribute that makes Coca-Cola look at India as a market with long-term potential. His comments came amid protests in various parts of the country against the Citizenship Amendment Act. There were also riots in the national capital last week.
Stronger dollar affecting us as 75% of our business is outside US: Coca-Cola CEO
Company to keep investing in the country whatever the outcome of upcoming elections, says Coca-Cola Global CEO James Quincey.
India has shown ‘improvement’: Coke global CEO James Quincey
In India too, Coca-Cola has been hedging risks by broadbasing its portfolio to include low-sugar or healthier drinks including juices, juice-based beverages, tea and flavoured waters.
Coca-Cola CEO James Quincey meets PM Narendra Modi, Mukesh Ambani, discusses sourcing, retail plans
At the meeting with the PM, Quincey pledged to step up its agri-business from India, currently the company’s sixth-largest market.
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