homebusiness Newscompanies NewsCoca Cola developing local products globally, has 'bold' plans for 2023
Coca-Cola developing local products globally, has 'bold' plans for 2023
India is the fifth-largest market for Coca-Cola globally and it has significantly grown over the last few years. "The momentum is there, we are very positive about the future of this market to continue to grow and build on the momentum we have," said Henrique Braun, the president of the company's international development.
Coca-Cola India is developing local products globally. Henrique Braun, the president of the company's international development, said. Maaza for example was developed locally in India, and has now been developed globally and the portfolio has been put together by the global R&D team, but with local insight.
"We will see more of this and we are open-minded to opportunities that come in the market as well," Braun said.
India is the fifth-largest market for Coca-Cola globally and it has significantly grown over the last few years. "The momentum is there, we are very positive about the future of this market to continue to grow and build on the momentum we have," he said.
Talking about the inflation in global markets and even in India and how that has affected consumer behaviour, Braun said that the company has has experience of how to navigate the situation in a sustainable way. "We are amplifying the portfolio — more packaging size options, broader portfolio that allows us to play on the affordability choices, keeping the price point that feeds on the pocket of the consumers, but also tapping into the premium occasions that help us have the revenue growth capability that helps us navigate through an inflation area or downside market," he said.
He said the momentum is continuously good. "The collections of the consumers, the brands, the campaigns we are doing here are unprecedented. We also have execution as a great underlying platform that allows us to continue to grow, despite of the macroeconomic scenario," Braun added.
Braun said that Coca-Cola has always been consumer-centric when it comes its choices. "If you truly are consumer-centric, you will thrive. If you add to the customer value equation that you adding value to the relationship to the trade and operating as a good corporate citizen, this whole flying wheel is going to help you accelerate growth," he said.
He said Coca-Cola's position in the past in the offline world was already good and established. "We had the competitive advantage. And now, leveraging the digitisation, we are exponentially having the benefit of getting this whole equation together to continue to be relevant in the hearts of our customers and also in the value we bring to our consumers," he added.
He said India is setting a great example by turning to digitisation — whether it is the government advancing towards the same, industry coming along as well as startups being an open source; and Coca-Cola is taking advantage of this entire ecosystem to incorporate it in its consumer strategy and how it can connect with consumers in a very effective way.
Braun also said that the company's plans for India in 2023 are very bold. "We believe we are going to have a good year," he added.
Watch the accompanying video for the entire interview
First Published: Feb 10, 2023 7:51 PM IST
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