The Hindu : Business : Coca-Cola looks to India for global services

Online edition of India's National Newspaper
Saturday, Aug 18, 2007
ePaper

Business

Business

Coca-Cola looks to India for global services

Special Correspondent

Plans $250 m investment in the next three years

— PHOTO: V. V. Krishnan

NEW GROWTH STRATEGY: (from left) Venkatesh Kini, Vice-President-Marketing, Atul Singh, President and CEO, and Prasoon Joshi, Executive Chairman and Regional Creative Director, McCann-Erickson, Coca-Cola, at a press conference in New Delhi on Friday.

NEW DELHI: Unfolding its new five-point growth plan for India with an investment of $250 million in the next three years, soft drinks major Coca-Cola on Friday said it would turn to the country for its global services in new areas, including engineering and technical R&D besides enhancing its products profile and entering new product segments.

Unveils new logo

The company, which unveiled a new corporate logo keeping in tune with its new strategy, plans to set up a retail university in India and an equipment testing centre in Hyderabad to test coolers for the Asia- Pacific region.

“In the past four consecutive quarters, we have reported 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,” Coca-Cola India President and CEO Atul Singh said while addressing media persons here on Friday.

Further, he said, “Indian talent pool will be utilised for meeting our global needs in areas like engineering, finance, marketing and technical R&D. The retail university will train Indian retailers to compete with fast changing retail environment and bring global expertise for employees, bottlers and key customers.”

Orange pulp drink

Announcing the national launch of Coca-Cola India’s orange pulp drink ‘Minute Maid, Mr. Singh said, “Sparkling beverages, energy drinks, sports drinks, flavoured water and juices are the areas we are considering at the moment.” Responding to a query whether Coke, which acquired U.S. energy drinks major Glaceau for $1.4 billion, would bring any of the acquired brands to India, Mr. Singh said they were studying the market. “The focus in India would be on bringing in localised flavours.

According to Mr. Singh, brand-building, sales, equipment, infrastructure like coolers and bottling lines, trucks and other distribution related materials would be the primary focus and priority investment areas.

On inorganic growth opportunities in India, Mr. Singh said the company was keeping all options open and would evaluate them.

Printer friendly page
Send this article to Friends by E-Mail

Business