Maaza Makes History as 2nd Desi Brand in Coca-Cola Group to Achieve Milestone
Maaza Becomes Coca-Cola’s 30th Billion-Dollar Brand
Maaza, the popular mango-based drink owned by Coca-Cola, has officially joined the ranks of the company’s billion-dollar brands, achieving this milestone in 2024. This makes Maaza Coca-Cola's 30th billion-dollar brand globally, as announced by Chairman and CEO James Quincey during the company’s post-earnings call on Tuesday.
In India, Coca-Cola’s business has seen significant growth, with volume increasing during the quarter, Quincey shared. Before Maaza, ThumsUp reached a similar achievement in 2021, becoming Coca-Cola's first billion-dollar “desi” brand.
The Acquisition of Maaza and Thums Up
Coca-Cola entered the Indian market in 1993 by acquiring the entire portfolio of beverages from Ramesh Chauhan of Parle Bisleri, which included Maaza, ThumsUp, Gold Spot, and Limca. Maaza, launched in 1976, quickly became a household name in India. In 2022, Coca-Cola’s Sprite also crossed the billion-dollar mark in India, making it one of the company’s key players in the region. With Maaza's latest success, Coca-Cola now has three billion-dollar brands in India: Maaza, Sprite, and ThumsUp.
Coca-Cola's Strategy in India
Coca-Cola has effectively tapped into the Indian market with innovative marketing strategies. According to Quincey, Coca-Cola associates itself with music, Sprite with travel, and ThumsUp with the movies, creating strong cultural connections with consumers. India remains Coca-Cola’s fifth-largest market globally, underscoring its importance.
In 2024, Coca-Cola expanded its reach by adding around 440,000 new outlets via digital customer platforms in India. This expansion is aimed at customizing product offerings—such as price, packaging, and variety—tailored to local preferences.
Solid Growth for Coca-Cola in 2024
Globally, Coca-Cola's unit case volume grew by 1% in 2024, driven by strong performances in Brazil, India, and Mexico. In the December quarter alone, unit case volume growth reached 2%. For the full year, Coca-Cola's net revenues climbed by 3%, totaling USD 47.1 billion, while quarterly revenues increased by 6%, reaching USD 11.5 billion.
Coca-Cola also made strategic moves in India by refranchising its bottling operations in some regions, resulting in significant earnings. For the year, the company recorded net gains of USD 303 million related to the refranchising process, alongside a USD 13 million gain for the quarter.
In total, Coca-Cola’s 2024 performance highlights strong international growth, especially in emerging markets like India, further cementing the company’s position as a global beverage leader.