Coca-Cola eyes billion-dollar brand expansion in India

The Coca-Cola Company expects more of its brands in India to cross the billion-dollar revenue mark, a signal of the beverage giant’s deepening commitment to one of its fastest-growing markets.

Read more: Limca strengthens Coca-Cola’s non-cola portfolio as it crosses Rs 2,800 crore mark

Henrique Braun, Executive Vice President and Chief Operating Officer of Coca-Cola, said Thursday that the company’s Indian portfolio has already produced three billion-dollar brands, Thums Up, Maaza and Sprite, and more are likely to follow.

“We have today 30 billion-dollar brands globally—15 that we built organically and 15 that we acquired and developed,” Braun said, as per a PTI report. “India’s vibrance makes it a fertile ground for further growth.”

“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 ranks as Coca-Cola’s fifth-largest market by volume. While the country is still considered a developing market for beverages, Braun views that status as an opportunity. “We are building what we believe are the right foundations for long-term, sustainable growth,” he said.

A Legacy Recharged

Among Coca-Cola’s standout performers in India is Limca, the company’s five-decade-old lemon-lime beverage, which has emerged as one of the fastest-growing brands in its portfolio. According to a PTI report, Limca crossed the ₹2,800 crore revenue mark in 2024, a milestone that reflects its evolving relevance in a competitive market.

Once viewed primarily as a nostalgic favorite, the heritage brand has been revitalized by Coca-Cola’s push into rural markets, expanding modern trade channels, and a sharpened focus on the hydration category. The company said Limca is now clocking strong double-digit growth in key northern states such as Delhi, Punjab, and Haryana, with gains across both traditional kirana outlets and modern retail formats.

First launched in 1971 and brought under Coca-Cola’s ownership in 1993 through the acquisition of Parle’s soft drink portfolio, Limca’s resurgence marks a broader shift in how legacy brands are being positioned for growth in dynamic consumer markets like India.

Coca-Cola currently owns seven of the top ten brands in India’s beverage sector and intends to continue investing in brand development. While demand has shown short-term fluctuations, Braun described the long-term trend as resilient.

“It’s never a straight line, but year over year, we continue to see strength in demand,” he said.

As for the potential introduction of more global brands into the Indian market, Braun said timing is critical. “It depends on the sequencing and the stage of market development,” he noted.

India also presents unique challenges. Carbonated beverages face one of the highest tax burdens globally, with a Goods and Services Tax (GST) of 28 percent and an additional 12 percent cess.

When asked whether the government should reconsider these taxes to spur growth in the sector, Braun remained diplomatic. “In 139 years, we’ve learned to work within local frameworks,” he said. “We focus on what we can control.”