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Is India new frontier for Coca-Cola? CEO leads massive delegation to nation
Livemint
·
1y ago
Medial
The Coca-Cola Company is sending a 220-member leadership team, led by CEO James Quincey, to India in recognition of its growing importance as a top volume growth priority market for the company. The team aims to meet with government authorities and engage with bottling partners, acknowledging their significance in capital infusion. Coca-Cola sees potential for expansion in India thanks to its young and populous demographic. The visit comes as Coca-Cola faces challenges in mature markets like the US and Europe. In December 2022, Coca-Cola India entered the domestic alcohol market with the introduction of Lemon-Dou.
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Coca-Cola’s global leadership team in India to brainstorm strategies
Thehindubusinessline
·
1y ago
Medial
Coca-Cola is hosting its annual business meet in India, as the country remains its fifth largest market globally. The meet in Goa will be led by the company's Chairman and Global CEO, James Quincey, and will include key leadership team members from the US and other global markets. The event aims to discuss future strategies and will be attended by third-party bottlers and the leadership team of Hindustan Coca-Cola Pvt Ltd. Coca-Cola is increasing investments in India, with its Thums Up brand being the largest soft drink brand in the country and Maaza driving its value-added dairy segment.
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Coca-Cola bottler SLMG appoints new CEO
Thehindubusinessline
·
1y ago
Medial
Coca-Cola bottler SLMG Group has appointed Costin Mandrea as its CEO. Mandrea, who has more than 25 years of experience in the beverage industry, previously held roles at Coca-Cola Hellenic and Coca-Cola Bottlers Japan Inc. SLMG Group chairman S N Ladhani expressed confidence in Mandrea's leadership abilities, stating that he is well-suited to lead the company's expansion efforts. Mandrea said he is eager to work with the team and use his experience to drive innovation and growth for the company.
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Coca-Cola joins govt-backed ONDC network; launches marketplace Coke Shop
IndianStartupNews
·
1y ago
Medial
Beverage giant Coca-Cola India has joined India's Open Network for Digital Commerce (ONDC) and launched its marketplace, the Coke Shop. The move allows Coca-Cola to provide an additional channel for retailers to sell their products and enhance the purchasing experience. Coca-Cola's bottling partner, Moon Beverages Ltd, will facilitate access to the beverage portfolio on the platform. Coca-Cola India has partnered with SellerApp and nStore Technologies to maximize its presence on the ONDC network and leverage data-driven insights and digital growth strategies. The company aims to strengthen its market presence and offer consumers more purchasing options.
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Coca-Cola sells 40% stake in HCCB to Jubilant Bhartia Group | Company Business News
Livemint
·
7m ago
Medial
India's Jubilant Bhartia Group is set to acquire a 40% stake in Hindustan Coca-Cola Holdings, the parent company of Hindustan Coca-Cola Beverages, the country's largest Coca-Cola bottler. The deal, valued at between INR120 billion ($1.6bn) and INR125 billion, is part of Coca-Cola's long-term strategy to find a partner with expertise in running businesses in India. The ultimate goal is to take the bottling business public. Jubilant Bhartia Group operates various businesses including contract research and development services, agricultural products and food services. The acquisition is expected to heighten competition in India's beverage packaging industry.
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Mint Explainer: Inside the lucrative world of soft-drink bottling manufacturers
Livemint
·
10m ago
Medial
Coca-Cola India is considering listing its wholly owned bottling subsidiary, Hindustan Coca-Cola Beverages (HCCB). The move is seen as part of a trend among consumer giants to spin off units, optimise balance sheets, and focus on core brands and business models. Listing the bottling subsidiary would enable Coca-Cola to reduce exposure to risks associated with fluctuations in raw materials, regulatory changes, and local market conditions. It would also provide liquidity for the bottler and potentially offer tax benefits. Other multinational companies, such as Whirlpool, Timken, and BAT, are also exploring similar strategies.
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Coca-Cola may cut stake in bottling arm; PE firms eye Indus Towers
VCCircle
·
1y ago
Medial
Coca-Cola India is reportedly discussing the sale of a minority stake in its bottling unit, Hindustan Coca-Cola Beverages (HCCB), with four prominent Indian business families. The potential buyers include the Bhartia family of Jubilant Group and the Burmans of Dabur. Coca-Cola is looking to reduce its stake in HCCB and seek partnerships with local investors. This move comes as private equity firms show interest in investing in Indus Towers, a telecom company that recently merged with Bharti Infratel.
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Coca-Cola to build capacity in India after ‘robust’ growth in 2023
Livemint
·
1y ago
Medial
Beverage giant Coca-Cola plans to reinvest a significant portion of its capital investment increase to expand its capacity in India and support the growth of Fairlife, its American dairy drinks brand. In addition to experiencing robust growth in India and Brazil, the company expects to generate $9.2 billion in free cash flow in 2024. Coca-Cola has been expanding its capacity in India through its bottling subsidiary, Hindustan Coca-Cola Beverages, and currently operates 54 plants across the country.
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IPO-bound Lenskart's CFO quits; likely to join Coke India as finance chief
Livemint
·
11m ago
Medial
Mukti Hariharan, chief financial officer of Lenskart, has resigned and is reportedly set to join Coca-Cola's Indian arm in a similar role. Lenskart, one of the most highly anticipated IPOs in the Indian startup scene, will now need to find a new CFO as it prepares to go public in the next 18-24 months. Hariharan, who previously worked for Hindustan Unilever and Credit Suisse, is expected to replace Coca-Cola's current CFO Harsh Bhutani, who will be joining Hindustan Coca-Cola Beverages. Coca-Cola has been bullish on India's growth prospects and is looking to reinvest capital in the country.
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Coca-Cola says India business saw robust growth in 2023
Thehindubusinessline
·
1y ago
Medial
Coca-Cola has reported that its India business experienced strong growth in 2023 and is increasing investments to expand its capacity in the Indian market. The company stated that its developing and emerging markets, particularly India and Brazil, led the growth for the December quarter and the full year. In the Asia-Pacific region, India and China were the primary drivers of unit case volume growth. Coca-Cola also saw value share gains in the Indian beverage segment. India is the fifth largest market for the company globally.
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Competition a positive force, keeps us sharp: Coca-Cola president Murphy
Livemint
·
6m ago
Medial
Coca-Cola's President, John Murphy, highlights India's pivotal role in the company's global strategy due to its growth potential, especially in rural markets. Despite urban demand fluctuations, Coca-Cola remains optimistic, focusing on digitization and accessibility. Competitive local brands are seen as beneficial challenges. Murphy emphasizes a balanced pricing strategy, urban retail evolution, and sustainable practices. The firm is leveraging AI for marketing and operations, underscoring India's promising future for Coca-Cola amidst economic fluctuations.
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