Coca-Cola’s decline in sales of its leading beverage ‘Rani’ in the Middle-East was offset by healthy sales of Maaza in India and Del Valle juices in Mexico.
The Coca-Cola Company’s Maaza has come to the rescue of the firm against slow sales of its leading drink in the Middle-East. Coca-Cola’s decline in sales of its leading beverage ‘Rani’ in the Middle-East was offset by healthy sales of Maaza in India and Del Valle juices in Mexico, the company said in its earnings report released this week.
“Juice, dairy and plant-based beverages volume was even as strong performance in the Del Valle brand in Mexico and the Maaza brand in India was offset by a decline in Rani, the leading juice brand in the Middle East,” Coca-Cola said in its quarterly results statement.
Coca-Cola’s sales performance in juice, dairy and plant-based beverages was balanced out, it said. Maaza is a popular mango-based fruit drink available in India and competes with Parle Agro’s Frooti and PepsiCo’s Slice among others. Coca-Cola recorded strong performance riding on the success of its new launches, it said in its earnings release for the Jan-Mar quarter of 2019.
In India, Coca-Cola’s Aquarius GlucoCharge has shown success as well in the hydration category, Coca-Cola said. The product was launched in India in May 2018 along with Minute Maid Vitingo. India is a strong market for Coca-Cola. In the Asia-Pacific region, Coca-Cola said that the unit case volume increased by 7%. India, along with China and southeast Asia drove this growth. Also, “Price/mix grew 3% for the quarter, driven by strong price/mix performance in India,” Coca-Cola said.
Coca-Cola has also registered profitable double-digit growth in Coca-Cola Zero Sugar globally. With innovative products such as Orange Vanilla Coke and Orange Vanilla Coke Zero Sugar, Coca-Cola’s retail value growth was driven by 6% in the US. Other products were also launched including Simply smoothies in the US. The company also forayed in plant-based beverages in Europe with the expansion of its already established product called Innocent Drinks.
“We’re encouraged by our first quarter results as our disciplined growth strategies continue to deliver strong underlying performance,” said James Quincey, CEO of The Coca-Cola Company.
- First published on www.financialexpress.com on 24 April 2019.