Coca-Cola CEO James Quincey on the economy, expanding the company’s line of beverages, the pricing outlook, the Super Bowl, marketing, launching bottles and cans themed to the Korean boy band BTS and the company’s ‘World Without Waste’ initiative.
Coca-Cola, the world’s largest beverage company, is dialing back on sugar and ramping up coffee to quench consumers’ thirst for non-alcoholic beverages.
“There’s a couple of truths about the consumer in the beverage industry,” Coca-Cola CEO James Quincey said to FOX Business’ Maria Bartiromo during the World Economic Forum in Davos, Switzerland, on Wednesday. “One, they are drinking more commercial beverages but two, they want more choice.”
And Coke wants to be the company that serves those many choices. Last year, Coke spent $5.1 billion for U.K. coffee chain Costas, its largest acquisition ever. The deal sparked speculation that the beverage giant was on the hunt for more similar deals, as covered by FOX Business.
“Coffee is a big industry,” said Quincey. “The biggest [barrier] to the coffee industry by far is selling coffee in someone else’s outlet. The independent stores of all sorts of shapes and different sizes around the world sell coffee.”
Coca-Cola has expanded into several key non-alcoholic areas encompassing more of a focus on sparkling products, reformulating iconic Diet Coke with flavors like Diet Coke Ginger Lime and Diet Coke Feisty Cherry and upgrading its Coke Zero brand as Coke Zero Sugar with no sugar or calories.
The soft drink maker, headquartered in Atlanta, Georgia, has more than 500 brands, including Sprite, Dasani, Powerade and Coca-Cola, and sells its products in over 200 countries and territories across the globe.
Coca-Cola is the largest provider of beverages to independent stores, according to Quincey.
By Julia Limitone
Source: Fox Business
Danone has appointed Carla Hilhorst to the newly created position of senior vice president of research and innovation categories and zones, as the company looks to make science the heart of its business. Hilhorst, who brings over 30 years of experience in research and innovation, will report directly to Isabelle Esser, Danone’s chief research, innovation, quality and food safety officer.
The move, part of Pernod Ricard’s strategy to enhance its premiumisation efforts, will allow the company to focus more resources on its portfolio of premium international spirits and champagne brands that drive the growth of its business. This decision aligns with the company’s commitment to delivering sustainable value for shareholders, employees, clients and partners.
Schai – who is the current CEO of Swiss chocolate company Lindt & Sprüngli’s Australian operation – has previously worked with Aryzta from 2015-2018, where he served in roles including managing director for Asia Pacific and global strategic business lead (McDonald’s). The fast-food giant McDonald’s is one of Aryzta’s significant clients.
