Coca-Cola Launched 500 Drinks. Most Taste Nothing Like Coke
When Coca-Cola Co. directed its global subsidiaries to launch more local flavors last year, the company’s Indian arm came up with a unique drink: chunky mango juice. Indians commonly squeeze mangoes to soften them and then bite a hole in the tropical fruit’s tough skin to suck out the pulp, Coke’s Indian drink developers knew. So they concocted a beverage to mimic that experience, called Maaza Chunky.
The invention of an India-only product was something the beverage behemoth wouldn’t have attempted three years ago, but it reflects a push by Coke Chief Executive James Quincey to get the company to shed its culture of cautiousness, expand into new categories and bring products to market faster.
“There are products out there in the world that perhaps we wouldn’t have tried a few years ago,” Mr. Quincey said in an interview.
Before Mr. Quincey was named CEO in May 2017, investors and analysts had criticized the Atlanta-based company for focusing too long on sugary soft drinks, even as consumers switched to healthier options and the company’s global beverage volumes stalled.
Since then, Coke has pushed harder to diversify, launching more than 500 new products and variants last year, a record for the company and an increase of roughly 25% over the previous year. Recent launches include a cucumber-flavored Sprite in Russia, a line of whey shakes in Brazil, a sesame-and-walnut drink in China and a salty lemon tonic water in France and Belgium. Coke says its expanding portfolio is helping to drive its recent growth in volumes.
“We’re not betting the ranch on every idea until it’s proven to have some traction,” Mr. Quincey said. “I think we see more innovation in the marketplace... but just as importantly, a focus on removing the things that don’t work.”
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