Coca-Cola recorded net gains of $13 million in the December quarter due to the refranchising of its bottling operations.
India had 'good double-digit growth of volume' in the second quarter and the company remains very bullish on the Indian market, Coco-Cola CEO James Quincey has said
Expected to touch this milestone in 2024. For the beverages major, Thums Up and Sprite are the latest to have achieved the billion-dollar brand mark.
Mango-based drinks command about 75 percent of the Rs 12,000 crore packaged juice market in India and are growing at 9-10 percent every year.
Fruit drink brand Maaza reported total sales of Rs 2,826 crore in FY21 in India.
"With the launch of Maaza Gold, the company is expanding its product portfolio in line with consumers' taste. The company at the same time is also accelerating Maaza's journey towards becoming a homegrown billion dollar brand by 2023," Coca-Cola India & South West Asia Director Marketing –Juices Srideep Kesavan said.
"The resource infusion behind Maaza is a part of the USD 5 billion investment plan of the Coca-Cola company and its bottlers in India, between 2012 and 2020. The bottlers of the company are setting up 5 Greenfield projects over the next 2 years, at least 50 per cent of which will have manufacturing lines for Maaza," the firm said.
Cola major Coca-Cola India today expanded its portfolio by launching an active hydration beverage Aquarius -a lemon flavoured non-carbonated drink - and is one of the top USD 20-billion brand of the American beverages giant globally.
The bottlers are setting up five greenfield projects over the next two years, in addition to 57 bottling plants that already exist, at least 50 percent of which will have manufacturing lines for Maaza over the next few years, the company said.