Corporate Profiles - 2021 - 68

COMPANY OVERVIEW
Coca-Cola Co.
Portfolio optimization shifts into gear
T
he Coca-Cola Co., Atlanta, has spent 2021
acting on its portfolio optimization plan,
which involves reducing the number of its
brands and then prioritizing the remaining ones.
Getting down to 200 brands from 400 will allow
global category teams at Coca-Cola to identify the
" biggest and greatest opportunities " by combining
category and geographical combinations and allocating
investments accordingly, said Manuel Arroyo
Prieto, global chief marketing officer, on June
9 in the Deutsche Bank dbAccess Global Consumer
Conference.
He added the portfolio will have two dimensions.
" One is a well-balanced portfolio between
global and regional, and continental and largescale
local brands, and second, that these targeted
investments will leverage our leader brands more
effectively and convert more challenges and more
explorer brands into leaders faster and consistently, "
he said.
Rabobank, based in The Netherlands, reflected
on how beverage companies in general are focusing
on fewer brands in a report released in May.
" Companies are finding it difficult to provide effective
marketing support behind an infinite number
of brands that often compete for very similar
occasions, " the report said. " They are finding that a
portfolio with fewer brands, each with a clear and
distinctive purpose in the market, can be supported
much more effectively than a multitude of brands. "
Coca-Cola in May announced it was discontinuing
Coca-Cola Energy in North America. The product
entered the market in 2020.
" As we emerge stronger from the pandemic,
our strategy is focused on scaling big bets across
a streamlined portfolio and experimenting in an
intelligent and disciplined manner, " said Alex
Ebanks, senior manager of business and brand
communications - North America, at Coca-Cola.
" An important component to this strategy is the
consistent and constant evaluation of what's performing
and what's not. "
Coca-Cola invested in other categories.
Fairlife LLC, a wholly owned business of CocaCola,
opened a 300,000-square-foot production
and distribution facility in Goodyear, Ariz. The plant
will manufacture almost all products in the fairlife
portfolio, including fairlife ultra-filtered milk, Core
Power, fairlife YUP! and fairlife Nutrition Plan protein
beverages.
James Robert B. Quincey, chief executive officer,
in a July earnings call addressed progress in rolling
out the Topo Chico Hard Seltzer brands. Whether
the flavored alcoholic beverage category exists in
a country makes a difference, he said.
" We're in 17 markets to date, " he said. " We're
on track to be in 28 markets around the world by
the end of the year. We're learning what it takes to
compete where the category exists. We're learning
what it takes to help grow the category where it
doesn't exist. "
Results for the second quarter ended July 2
showed how the rebound in away-from-home
channels benefited Coca-Cola. Net operating revenues
of $10.13 billion were up 42% from $7.15
billion in the previous year's second quarter.
Coca-Cola raised its outlook for the fiscal year
to organic revenue growth of 12% to 14% and
comparable earnings-per-share growth of 13%
to 15%.
" Consumers have started to return to many prior
routines, and as a result, our away-from-home volumes
steadily improved as a percent of our business
this quarter, driving strong price/mix and margin
acceleration across the enterprise, " Mr. Quincey
said in the July call. CP
Chief executive officer -
James Robert B. Quincey
Coca-Cola Co. net income (loss)
Coca-Cola Co. net revenues
Coca-Cola Co. share price
per share
$34,300
$6,434
2018
68 \ October 2021
$8,920
2019
$7,747
2020
2018
2019
2020
$37,266
$33,014
$44
$48
$52
$56
$60
Oct.
2020
Dec.
Feb.
2021
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Corporate Profiles - 2021

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