Beverage major Coca-Cola has reiterated its commitment to India, saying that investing in the country was a long-term priority. Addressing investors during its March quarter earnings call on Tuesday, Henrique Braun, chief executive officer of Coca-Cola, said that the company was working with partners to strengthen execution capabilities and gradually expand further in the country.
“In India, it is important to build this for the long term, a place where we are fortunate to also have local brands under the portfolio … that gives us the opportunity to be connected with the consumers in a very unique way,” he said. Describing India as a key growth market, Braun noted the company was far away from building an overall architecture in areas such as revenue growth management.
Braun on comapny’s price mix
Braun said the company’s price-mix in the region declined by six percentage points during the quarter as Coca-Cola continued investing for future growth. He stressed the company’s long-term priority in India was to stay ahead of the curve and bring more consumers into its base.
During the quarter, Coca-Cola in India focused on driving affordability and linking its brands to key consumer moments, including associating Thums Up with the T20 Cricket World Cup. The company also expanded Sprite’s reach into rural markets through content tailored to local languages.
Further, Coca-Cola also stated in its earnings filing that it had continued to expand use of its ultra-lightweight bottles, which in turn supported growth in volumes.