Coca-Cola chief wants to double India's business in 5 years
Mumbai: India has become the fifth largest market for global beverage giant The Coca-Cola Company (TCCC) after registering one billion boxes in sales in 2019. But the president and CEO of TCCC has already established a new Goal for Coca-Cola India: double the size of the business in five years.
The last time Quincey visited India, he talked about the company's aspiration for the country to become the fifth largest business, ahead of Japan. On Monday, at a press meeting, Quincey said it took Coca-Cola India 21 years to reach sales of one billion unit cases. The goal of 2 billion unit cases, when achieved, should place India among the four main markets for TCCC. The four main markets for TCCC are the United States, Mexico, China and Brazil. “We see India as a super attractive market and we continue to invest, we continue to build our businesses and jobs locally. And we would like to see those growth rates continue. So our next goal is on the way to becoming the first four, he said.
On the spread of the coronavirus, Quincey said the epidemic has not affected the organization's supply chain in the short term.
“When we plan our supply chain, we incorporate intermediate memories and contingencies around key ingredients for our products worldwide. We are not anticipating at this stage any significant challenge in the supply chain. If the virus spreads exponentially, globally, that would be a different problem. The reason for the cold system's resistance is that all Coca-Cola in India is made in India and all Coca-Cola in China is made in China. Then, there is a large degree of local business in the corporation. So there are no imminent problems, he said.
Globally, as well as in India, Quincey said that the soft drink business continues to grow despite the slowdown. Commenting on the perspective of the multinational and the impact of recent riots in certain pockets and the riots in Delhi, Quincey said that any disruption in the functioning of society can have some degree of impact on business. But, he said, “India is a vibrant democracy and we all expect things to be resolved in an appropriate democratic way. We see a lot of long-term potential in India. ”
The president of Coca-Cola India and Southwest Asia, T Krishnakumar, said the company is on its way with its investment plan of Rs 11,000 crore in the circular fruit economy. The company, which began its low sugar journey with Maaza, ensures that the new products are formulated with lower sugar levels that meet the guidelines prescribed by WHO.