Coke puts heads together
Many fascinating insights from Beverage Digest’s interview with current and future Coca-Cola Chief Executives Muhtar Kent and James Quincey last week.
• On strategy – “We don’t want to be distracted by food. Our business is hydration.” MK
• On acquisitions – “We’re generally in the half-billion to billion-dollar range, and we do one to three of those a year.” JQ
• On health – “We know we need to help shape choice and be part of the solution, with smaller packages, reformulations, innovation and the way we go to market.” JQ
• On taxes – “You can look around the world at beverage taxes and see they haven’t really made any difference.” JQ
• On market change – “A decade ago stills were around 10% and sparkling was about 90%. Now, that mix is 70% sparkling, 30% stills. … Glaceau, Fairlife, Smartwater, Jugos Del Valle, Innocent, Honest Tea and Gold Peak were not around and now they are. Fairlife is not a billion-dollar brand yet, but it’s on its way.” MK
Do ask if you’d like to know more as I’m now the publisher of Beverage Digest.