Latest news with #Braun
Time of India
9 hours ago
- Business
- Time of India
Coke's plan is to have an endless summer
Representative image (Picture credit: AP) MUMBAI: Coca-Cola is pivoting towards an "all-weather" strategy to get consumers to spend on soft drinks beyond summers - the peak sales season for beverage firms worldwide as companies increasingly contend with the scourge of climate change and vagaries of weather. "An all-weather mindset is very important. It reduces dependence on seasonality," said Henrique Braun, global chief operating officer and executive VP at The Coca-Cola Company. Implementing an all-weather strategy in India would mean creating more occasions to consume beverages. Coca-Cola is betting big on festivals to drive more consumption of cold beverages in India. "India is a developing market... there are too many occasions that we need to develop in order for the seasonality to be lower. It takes time, but that's the game in the long term," Braun said in a media roundtable on Thursday, indicating that the early arrival of monsoons in India this year may impact summer sales. "You might have an impact on a daily basis, weekly basis, but you need to overcome these over time, and that's what the (all-weather) strategy is," Braun said. The monsoon hit Kerala on May 24, eight days ahead of its normal arrival date on June 1, the earliest onset since 2009. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kickstart your new journey with the Honda Shine 125 Honda Learn More Undo Rains have also advanced to other parts of the country, impacting sales of soft drinks, cold beverages, and ice creams. Braun's trip to India, the second executive visit from Coca-Cola's global leadership team this year after CFO John Murphy, comes at a time when the local beverage space has become more competitive after Reliance's Campa entered the market with its cheaper-priced cola variants. "The barrier to entry is not that big, but the barrier to stay and scale is very high," said Braun, who discussed growth opportunities with the India team and studied the trends shaping up in the market during his visit. Coca-Cola, which continues to see "resilient" demand in India despite a broader slowdown in consumption over the past few quarters, will offer a wide selection of choices to consumers and build a varied portfolio across pack sizes amid a push towards healthier options among certain sections of the population. "More than two-thirds of our products globally have zero-calorie offerings from the same brands. There's always a product for a consumer need state in a size and serving that they want and the formulations that they can enjoy with the best taste. That's our approach. Our job is to continue to provide the right portfolio and let choice be the driver," Braun said. Coca-Cola said it wants to build more billion-dollar brands out of India. Over the years, it has built two homegrown brands, Maaza and Thums Up (which were acquired by the company in the 1990s), into billion-dollar brands and took them global. Sprite (not local) is the other one to have reached that mark in India. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
10 hours ago
- Business
- Time of India
One summer doesn't tell the story: Coke upbeat on India
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Mumbai: Coca-Cola global chief operating officer Henrique Braun declared consumer demand in India was 'resilient' amid slowing sales across household products and groceries, exacerbated by early onset of monsoon that curtailed sales of summer products, including beverages and colas."We continue to see resilient demand in India. Summer still accounts for a larger percentage all over the world. But what is more important is the overall year equation, how you get events during the year when you can actually increase consumption, and then level off the seasonality moving forward," said Braun. "There are still many occasions that we need to develop for seasonality to actually be lowered. An all-weather mindset is important and the only thing that's going to change is that we are going to pivot fast and make sure we need to be back on track."Demand for fast-moving consumer goods worsened to a two-year low in the March quarter with FMCG volume sales growth of 3.5%, according to global research firm Kantar. However, Coca-Cola saw double-digit volume growth in the quarter due to higher inventory stocking before the onset of India's monsoon, the earliest since 2009, impacted sales growth of summer goods including beverages and ice-cream, which counts April-June as their peak company behind Maaza and Thums Up , however, said market measurements don't fully factor ecommerce sales, especially quick commerce in cities, which have been seeing highest demand pressure over the past year."So, if you think about the urban, not only the sales that you get through the normal channels, but the whole ecosystem (has to be factored in). That math is not easily done as some of the market measurements don't capture everything. It's all happening in the urban, not necessarily in the rural," added Braun. "India has accelerated tremendously in digitisation. One of the things that was, to me, an eye opener as well, in terms of another channel that's developing here is the quick commerce that is very unique to India. It's accelerating, every time I come in, it's bigger."India is Atlanta-based Coca-Cola's fifth largest market by volume. Globally and well as in India, shifting consumer tastes are prompting beverage companies, including Coca-Cola and Pepsi , to find ways to diversify from traditional soda and high-calorie juices to low calories versions.
Time of India
12 hours ago
- Business
- Time of India
Coca-Cola eyes next billion-dollar brand from India amid resilient demand, says COO Braun
The Coca-Cola Company is optimistic about expanding its portfolio of billion-dollar brands, with India playing a key role in this growth trajectory, said Henrique Braun, Executive Vice President and Chief Operating Officer, on Thursday. Speaking during his visit to Mumbai, Braun highlighted the significance of India in the company's global growth strategy. He noted that Coca-Cola currently has three billion-dollar brands originating from India — ThumsUp, Maaza, and Sprite — which reflects the strength and vibrancy of the Indian beverages market, PTI reported. 'We have today 30 billion-dollar brands (globally) of which 15 were built organically and 15 we acquired and built into billion-dollar brands over the years,' Braun said, expressing confidence that more Indian brands would join this elite club in the future. Industry sources indicate that Coca-Cola's flagship cola drink in India may soon enter the billion-dollar revenue club as well. 'I have no doubt that we will have another one coming in the future because we believe in the vibrance of the country and the industry,' Braun added. India is currently Coca-Cola's fifth-largest market by volume growth, and the company is continuing to build what Braun described as the "right foundations" for long-term sustainable expansion. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bolsas nos olhos? (Tente isso hoje à noite) Revista Saúde & Beleza Saiba Mais Undo He also acknowledged India's evolving status in global rankings, influenced by various market conditions and geopolitical factors. On the broader demand landscape, Braun observed: 'We continue to see resilience in the demand. It's never a straight line, but if you compare year on year, in a bigger time frame, it continues to be resilient. There might be variations, but it's a market with growing demand.' Coca-Cola already has seven of the top ten beverage brands in the Indian market and plans to continue building and localizing its portfolio. However, Braun noted that the decision to introduce more global brands will depend on the timing and maturity of the Indian market. India remains one of the highest-taxed markets globally for carbonated beverages, attracting a GST of 28 per cent along with an additional cess of 12 per cent. On the issue of whether a reduction in tax rates could spur growth, Braun was measured: 'We have learned in 139 years that we have to deal with the local framework. We focus more on what we can control.' Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
14 hours ago
- Business
- Time of India
Coca-Cola expects more brands to join billion-dollar club, says its COO Henrique Braun
Global beverages major The Coca-Cola company expects more brands to join the billion-dollar club from markets including India, said its EVP and Chief Operating Officer, Henrique Braun, on Thursday. The Coca-Cola Company has 3 billion-dollar brands from the India market - ThumsUp, Maaza and Sprite, which shows the "vibrance" of the business here, he said. "We have today 30 billion-dollar brands (globally) of which 15 were built organically and 15 we acquired and built into billion-dollar brands over the years," Braun said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Knee pain prices might surprise you Knee pain | search ads Find Now Undo He expects that more brands from India will also join the billion-dollar club in future and the company will take the lesson learned here to its other global markets. According to industry insiders, Coke is also expected to join the billion-dollar brand club in the Indian market soon."I have no doubt that we will have another one coming in the future because we believe in the vibrance of the country and the industry." Live Events About the India market, Braun said it is still a developing country for the beverages industry, hence an opportunity to grow here. When asked whether he expects India to climb in its global rankings, Braun said it all depends on several factors, which include growth from other markets in the challenging geo-political situation. "India is very important. It's our fifth growth market in terms of volume. And we are building, we believe that we're building the right foundations to have sustainable growth for the future. The company, which has seven out of top ten brands in the India beverage market, will continue to develop more brands here. About the current demand situation in India, Braun said:" We continue to see resilience in the demand. It's never a straight line, but if you compare year on year, in a bigger time frame, it continues to be resilient. There might be variations, but it's a market with growing demand." When asked about introduction of more global brands to Coca-Cola's India portfolio, he said it depends on the sequencing of the right stage of the development of the market. India is one of the markets where carbonated beverages are taxed the highest. It attracts GST of 28 per cent along with a cess of 12 per cent. When asked whether the government should reduce the tax burdens for the growth of the category, Braun said: "We have learned in 139 years that we have to deal with the local framework. We focus more on what we can control."
Yahoo
16 hours ago
- Business
- Yahoo
State: insufficient planning, funding pauses summer meals program
Officials with the Braun administration pointed to Gov. Eric Holcomb as the reason Indiana opted out of a student summer meals program. (Getty Images) Indiana Gov. Mike Braun's second-in-command, along with a key executive branch agency, pointed to a lack of planning under Gov. Eric Holcomb's administration as the reason hungry Hoosier schoolchildren won't be able to use a summer meals program. 'The previous administration did not file for SUN Bucks in the way they should have,' Lt. Gov. Micah Beckwith told a crowd at a Zionsville town hall on Tuesday. 'I'm working with Gov. Braun to get those SUN Bucks dollars back.' 'A giant leap backwards': Indiana opts out of summer program for hungry schoolchildren That 'lapse,' along with other perceived failures of Holcomb, were part of what propelled the duo into office, Beckwith continued. Last year, 669,000 Hoosier children who qualified for food benefits and reduced-price school meals got an additional $120 while schools were closed for the summer, for a total of roughly $80 million. But Indiana opted out of the program this year, saying that Holcomb's administration hadn't done the legwork in advance of 2025. Oversight costs for the program would be roughly $3.7 million for the state, according to the administration, a tough sell following the state's projected $2 billion revenue shortfall earlier this year. In response, budget writers trimmed nearly every agency by 5% and sharply cut into economic development and public health programs. 'The successful implementation of the SUN Bucks program required early planning and strategic coordination to launch in Summer 2025. To ensure a timely rollout, the Division of Family Resources (DFR) needed clear direction from state leadership during late summer to early fall of 2024, during the prior administration,' Marcus Barlow told the Indiana Capital Chronicle. Barlow is the deputy chief of staff and director of the office of Strategic Communications and Public Affairs for the Family and Social Services Administration, which administers the program alongside the Department of Education. He said 'due to the complexity of procurement processes and system enhancements,' the Holcomb administration should have done the following before 2025, which is when Braun took office: Finalize contract amendments with the Electronic Benefit Transfer processor to allocate funding for Summer EBT Secure a system vendor to support technical enhancements and application processing for 2025 Summer EBT, or S-EBT, is the official name for the SUN Bucks program. The Food and Nutrition Service, part of the U.S. Department of Agriculture, handles the program at the federal level. It's unclear what changed between the program's administration in 2024 and 2025 that necessitated such changes. In response to a follow-up question, Barlow noted that 'since that prior administration didn't move forward, no decisions were made regarding whether or not to use the same vendor.' 'Upon taking office, this administration quickly submitted a waiver application to the Food and Nutrition Service to explore all possible avenues for launching the program this summer. However, our review revealed that the gaps in prior preparations prevented implementation in time for Summer 2025,' Barlow said. That waiver application, dated for March 2025, appeared to indicate that the state was moving forward with the program and would be submitting a Plan for Operations and Management for approval under Braun's administration. However, Barlow didn't respond to further questions about that plan and whether it was submitted or approved, saying the Indiana Capital Chronicle would need to submit a records request for the document. The federal government also declined to share a copy of Indiana's plan or comment on whether it was submitted or approved. 'USDA Secretary (Brooke) Rollins believes in empowering states to tailor programs and policies to their specific circumstances, rather than imposing a one-size-fits-all approach. She recognizes that states are best equipped to understand their own populations and encourages them to explore innovative ideas to address their unique needs. Under Secretary Rollins, USDA is committed to engaging with Indiana to find bold and sustainable solutions that support and protect both participants and taxpayers,' a USDA spokesperson said. Barlow pointed to existing resources under the USDA's Site Finder Map and the Hunger Hotline for families to connect to food resources. The hotline is accessible Monday through Friday between 7 a.m. and 10 p.m. Eastern Time at 1-866-3-HUNGRY (1-866-348-6479) for English speakers or at 1-877-8-HAMBRE (1-877-842-6273) for Spanish speakers. CONTACT US At the Tuesday town hall, the devout Beckwith continued on the topic of summer meals by saying that the state should 'take advantage' of the federal money being offered. 'We should go after that federal money,' Beckwith said to cheers. 'It's just going to go to a different state.' Additionally, the Noblesville pastor asked the faith community to step up in place of the state to 'be the hands and feet of Christ in these communities' this summer. 'I don't think the state is equipped to do it as well as nonprofits,' Beckwith concluded. '… It's a nonprofit's (and) faith community's job to do it. They can do it better than the state (and) far more efficiently.' SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
