Coca-Cola Co.’s Sprite lime-flavoured beverage is the second portfolio brand to have breached the $1 billion mark in annual sales, James Quincey, chairman and chief executive of the company, said during an earnings call on Tuesday.
In February, Coca-Cola said Thums Up became a billion-dollar brand in India in 2021.
On Tuesday, the American beverage major announced its earnings for its India business for the quarter ended 30 September. The company raised its full-year earnings outlook after beating Street expectations in the second quarter.
Its net revenues grew 10% to $11.1 billion in the third quarter. Unit case volumes growth across developing and emerging markets was led by India, China and Brazil, the company said. While its sparkling soft drinks brands grew 3%, driven by rise in demand from across operating geographies, it was primarily led by India, Mexico and China, the company said.
“In India, we continued to strengthen in the first half of the year gaining share in sparkling soft-drinks. Trademark Coke delivered strong growth through effective execution and occasion-based marketing. We drove approximately 2.5 billion transactions year-to-date at an affordable price point through the expansion of returnable glass bottles, and single-serve PET packages,” he said. “Sprite has grown to become a billion dollar brand in India driven by the success of a locally-adapted, occasion-based global marketing campaign.”
