Coke looks to India for global services
Coca Cola Company would invest $250 mn in India over the next three years as it plans to introduce new products, add additional lines of bottling capacity, reports Gaurav Choudhury.business Updated: Aug 17, 2007 21:22 IST
Global soft drink giant Coca Cola Company would invest $250 million in India over the next three years as it plans to introduce new products, add additional lines of bottling capacity.
Coke plans to set up a retail university India and an equipment testing facility at Hyderabad, company officials told a news conference on Friday.
“These investments would enable the Coca-Cola system to create bottling capacities for new product offerings, execute marketing strategies, devise innovative distribution models and ensure value creation for all its business partners," Coca-Cola India's chief executive officer Atul Singh said.
"In the past four consecutive quarters, we have delivered good growth, with the last quarter clocking 12 per cent in India. To enhance it further, our new initiative will follow a five-point strategy involving people, planet, portfolio, partners and performance," Singh said.
The company, which unveiled a new logo on Friday, is exploring to introduce new products in categories across energy drinks, sports drinks, flavoured water and juices.
"Sparkling beverages, energy drinks, sports drinks, flavoured water and juices are areas we are considering at the moment," Singh said. The company also announced a national roll-out of its orange pulp drink 'Minute Maid'.
Singh said that company was planning to further expand its portfolio of products in the country. Most of the products would be developed in India.
"Globally, we have 400 brands and over 1,000 products and we will bring whichever suits the Indian market," he said.
The company has already test-marketed Maaza Aam Pana and "bolder tasting" Fanta in some parts of the country. “These may also be rolled out nationally like we did for Minute Maid," he said.
“Our continued investments in building organisational capabilities and focus on improved execution by the bottling operations have resulted in four consecutive quarters of solid growth”, Singh said.