Who’s Drinking Coke?
The Coca-Cola Company has been an iconic global brand since 1886. CEO Muhtar Kent gave us his take on the global economy and new waves of innovation.
Kent told Maria Bartiromo “We are in a business where we’re selling moments of pleasure a few cents at a time.”
Kent continues to see growth in the Coca-Cola business. “US consumers have been drinking less, but we have proven in the past quarters that we’re getting growth,” said Kent.
Kent pointed out “the consumer is telling us they want more choices in this environment.” Through small innovations, such as Coke’s new aluminum cans shaped as its iconic glass bottle, Kent said the company is providing more choices for its consumers. This is achieved by generating different sized cans and bottles, at different price points.
When looking to the future, Kent is allocating capital based on “where we see growth and in next 5 years, intend to invest $5 Billion in Africa.” Kent believes Africa will continue to generate substantial growth.
Crystal Lau contributed to this article.
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