Coca-Cola global EVP Henrique Braun reveals co's growth strategy for India
Coca-Cola is «segmenting India in clusters as there will be parts of the country that will accelerate that growth and capability faster than others», Henrique Braun, global EVP and president, international development at Coca-Cola, said at Barclays' Global Consumer Staples conference late Thursday.
«We are segmenting the country in clusters and we truly believe that there will be parts of India that will accelerate that growth and that capability in a faster way than others. That's how we're going to start benchmarking internally,» he said.
Large consumer products makers including Unilever, Nestle and Godrej Consumer Products have echoed similar views on the India market, which has been showing sharply divergent demand recovery trends, or a K-shaped recovery with uneven growth patterns post the Covid-19 pandemic.
India is Atlanta-based Coca-Cola's fifth largest market by volume. Terming the India market «a combination of factors», Braun said: «It's (India) still a market that we have to build, with low per caps, high population». He said India as a market is «not a straight line», adding that it is growing significantly.
Coca-Cola India reported a consolidated profit of ₹722.4 crore in FY23, an increase by 57.1% over the previous year, while revenue from operations went up 45% to ₹4,521.3 crore, according to financial data accessed by business intelligence platform Tofler. Expenses on advertising and sales promotion increased 52.05% to ₹1,122.1 crore in the year, compared to ₹737.97 crore in the previous
