Coca-Cola eyes next billion-dollar brand from India amid resilient demand, says COO Braun
The Coca-Cola Company is optimistic about expanding its portfolio of billion-dollar brands, with India playing a key role in this growth trajectory, said Henrique Braun, Executive Vice President and Chief Operating Officer, on Thursday.
Speaking during his visit to Mumbai, Braun highlighted the significance of India in the company's global growth strategy. He noted that Coca-Cola currently has three billion-dollar brands originating from India — ThumsUp, Maaza, and Sprite — which reflects the strength and vibrancy of the Indian beverages market, PTI reported.
'We have today 30 billion-dollar brands (globally) of which 15 were built organically and 15 we acquired and built into billion-dollar brands over the years,' Braun said, expressing confidence that more Indian brands would join this elite club in the future.
Industry sources indicate that Coca-Cola's flagship cola drink in India may soon enter the billion-dollar revenue club as well.
'I have no doubt that we will have another one coming in the future because we believe in the vibrance of the country and the industry,' Braun added.
India is currently Coca-Cola's fifth-largest market by volume growth, and the company is continuing to build what Braun described as the "right foundations" for long-term sustainable expansion.
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He also acknowledged India's evolving status in global rankings, influenced by various market conditions and geopolitical factors.
On the broader demand landscape, Braun observed: 'We continue to see resilience in the demand. It's never a straight line, but if you compare year on year, in a bigger time frame, it continues to be resilient. There might be variations, but it's a market with growing demand.'
Coca-Cola already has seven of the top ten beverage brands in the Indian market and plans to continue building and localizing its portfolio.
However, Braun noted that the decision to introduce more global brands will depend on the timing and maturity of the Indian market.
India remains one of the highest-taxed markets globally for carbonated beverages, attracting a GST of 28 per cent along with an additional cess of 12 per cent. On the issue of whether a reduction in tax rates could spur growth, Braun was measured: 'We have learned in 139 years that we have to deal with the local framework. We focus more on what we can control.'
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