Meanwhile, a Coca Cola spokesperson told Financial Express online: “We are a pure play beverage company and there is nothing really to talk about at the moment."
Coca-Cola has not ruled out the possibility of entering into the food business, but is still more focused on increasing its beverages offerings, CEO James Quincey said. “The way I put it is never say never,” James Quincey said in response to a question on whether Coca Cola would expand into the food business, in an interview with Times Now.
“In other words, I don’t rule things out…” James Quincey said, adding: “… but the most likely thing is we will do more beverages. The reality is the beverages are in terms of global grossers still growing faster than food and we have lots of opportunities to gain share not just in sparkling but into lots of other categories and continue to grow there.”
Earlier, last year, Coca Cola acquired Costa Coffee, in a bid to gain a strong foothold in hot beverages business. Meanwhile, a Coca Cola spokesperson told Financial Express online: “We are a pure play beverage company and there is nothing really to talk about at the moment,” in response to a query about the company’s food products plans. Further comments are sought from the beverage firm.
James Quincey said that beverages venture has just been a tip of the iceberg and that there is a lot of scratching up do to. He added that Coca Cola’s immediate action would be to expand more into current business rather than opening more avenues that don’t fit into their business system.
Thanks to the $5.1 billion acquisition of Costa Coffee, Coca Cola will be able to tap the expanding coffee business. Costa Coffee operates its business from approximately 4,000 retail stores that span across the globe.
In India, the monopoly of global beverage brands has been challenged by homegrown brands such as Hector Beverages’ PaperBoat, Baba Ramdev’s Patanjali products, Raw cold-pressed juices, Hamdard’s Roohafza and Amul’s recent venture in fruit juice segment called ‘Tru’. However, Pepsico, Nestle and Coca Cola still lead the domestic market.