Colas, Mahakumbh spur Coca-Cola India to double-digit volume growth in Q1
double-digit volume growth
" in India in the January-March quarter aided by its cola brands
Thums Up
and Coke, and the Maha Kumbh mela, the Atlanta company said in an earnings statement last Tuesday.
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"In India, trademark Coca-Cola and Thums Up are fuelling consumers and contributing to double-digit volume growth for the market in the first quarter," the company said.
Coca-Cola said markets such as India, China and Brazil, contributed significantly to 2% unit case volume globally in the quarter. The company, which also makes Sprite and Maaza drinks, said in its global earnings statement that the
Mahakumbh Mela
, held in January and February this year in Prayagraj, brought it significant gains. 'For the first time in the company's history, the system intensified an integrated activation consisting of hundreds of refreshment zones, approximately 1,400 mobile stations and a 100 cooler-door wall, leading to over 180 million servings consumed during the gathering,' the company stated in its earnings release.
James Quincey
, chairman of Coca-Cola Company, noted in an investor call that India 'as a market demonstrated strong volume growth of global and local brands, adding that the system added nearly 350,000 outlets in the quarter.
However, the Indian market saw a fall in
non-alcoholic ready-to-drink beverages
, it said.
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'We had good momentum in Asia Pacific, very strongly driven by a good quarter in India ,' Quincey said while addressing investors, adding: 'India has seen a really good start to the year and our long-term thesis remains intact.'
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