Coca Cola’s brand Sprite becomes a billion-dollar brand in India

• ByStartupStory     |    October 26, 2022

Coca-Cola’s drink Sprite has become a billion-dollar brand in India, according to the beverage company’s worldwide results report released on Tuesday.

Coca-Cola announced earlier that Thums Up will be a billion-dollar brand in India by 2021. The important news of American beverage about its profitability for India in Q2FY23 is made on October 25, 2022. In Q3FY23, net sales increased 10% to $11.1 billion. Soft drinks increased by 8%, owing to growth in all regional operating categories, led particularly by India, Mexico, and Brazil. India and Brazil lead the way in developing and emerging market growth.

Coca-Cola chairman James Quincey said in an earnings call: “Trademark Coke delivered strong growth through effective execution and occasion-based marketing.”

“In India, we strengthened in the year’s first half, gaining share in sparkling soft drinks. Trademark Coke delivered strong growth through effective execution and occasion-based marketing. We drove approximately 2.5 billion transactions year-to-date at an affordable price point through the expansion of returnable glass bottles and single-serve PET packages,” said the company. “Sprite has grown to become a billion dollar brand in India driven by the success of a locally-adapted, occasion-based global marketing campaign.”

Coca-Cola, the market leader in soft drinks, reported excellent volume growth in its India business in the third quarter of 2022, aided by its effervescent soft drinks portfolio and fruit drink brand Maaza.

Coca-unit Cola’s case volume increased by 9% in the three months ending September 30. Its established markets expanded by the mid-single digits while developing and emerging markets expanded by the low single digits.

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