New Delhi: Hindustan Coca-Cola Beverages Pvt. Ltd, the largest bottling unit of US-based beverages maker Coca-Cola Co. in India, on Monday said it aimed to reach $2.5 billion (Rs16,127 crore at Monday’s exchange rate) in revenue by 2020.
For the year ended 31 March 2017, revenue stood at Rs9,472 crore, the firm said in a statement. To reach its target, the firm will manufacture and sell a wide range of beverages from value to premium and modify its operating structure, according to the statement.
“The company is also apportioning more resources to its frontline and field—both financial and human. This includes the setting up of the premium division to service customer requirements around niche and premium beverages—smartwater, frozen fruit desserts, mixers and tonic water etc, and amalgamating the existing Alternate Beverages Division to the mainstream distribution system," the statement added.
By 2020, Hindustan Coca-Cola plans to add one million new outlets. At present, its products are available at two million outlets across 25 states in India.
Hindustan Coca-Cola, which shifted its corporate headquarters to Bengaluru from Gurugram earlier this year, said it will operate under seven zones, instead of five at present, and focus more on sales and supply chain. To do that, the company will move to a leaner corporate office and allocate resources to strengthen sales and supply chain, it said.
“The reorganization will however make a few existing jobs redundant, the incumbents of which will be encouraged to apply for the new jobs that have been created," the company added.
“It was very clear from our research, conversations and market data that today we are not structured in a way that allows us to fully leverage our scale and market capabilities. Changes of this nature take time to seep in, but our associates are committed to ensuring that HCCB is key fixture in India’s consumer landscape and delivering the growth that we know is possible in India," Christina Ruggiero, chief executive of Hindustan Coca-Cola said in the statement.
Ruggiero joined Hindustan Coca-Cola in May after T. Krishnakumar moved to Coca-Cola India as president of the firm’s India and south-west Asia operations following Venkatesh Kini’s exit from the role.
Ruggiero is the first woman to head Hindustan Coca-Cola that operates 21 bottling plants and covers about 65% of Coca-Cola’s bottling operations in the country.
Before joining Hindustan Coca-Cola, Ruggiero was chief procurement officer for the Coca-Cola System in North America, and president and CEO for Bottlers’ Sales & Services, Llc.