Maaza becomes Coca-Cola’s third billion-dollar brand in India

For the full year, net gains from refranchising amounted to $303 million in India.

Coca-Cola’s home-grown mango drink, Maaza, has crossed $1 billion in sales in 2024, making it the company’s third billion-dollar brand in India after Thums Up and Sprite. The milestone was revealed during Coca-Cola’s post-earnings investor call on Tuesday, as reported by The Economic Times.

“In India, our business rebounded nicely during the quarter, and we grew volume,” said James Quincey, chairman and CEO of The Coca-Cola Company, during the earnings call. He further noted that Maaza is now the company’s 30th billion-dollar brand globally.

According to The Economic Times, Coca-Cola recorded net gains of $13 million in the December quarter due to the refranchising of its bottling operations. For the full year, net gains from refranchising amounted to $303 million in India.

The beverage giant reported a 2 percent growth in unit case volume in the October-December quarter, driven by key markets such as China, Brazil, and the US For the full year, unit case volume grew 1 percent, led by Brazil, India, and Mexico.

Commenting on the 40 percent stake sale of Hindustan Coca-Cola Beverages to the Jubilant Bhartia Group in December, Coca-Cola’s president and CFO, John Murphy, said: “We were looking for a partner as ambitious as we are to capture opportunities and build capacities over time.”

Murphy described the Indian market as “pretty vibrant, with a tremendous competitive set” and emphasized its long-term growth potential. The company also highlighted its strengthened distribution network in India, adding 440,000 new retail outlets in 2024.