Coca-Cola, global soft drinks company announced that its lemon and lime-flavored soft drink ‘Sprite’ has become a billion-dollar brand in the Indian market. The company has recorded a “strong” volume growth in its India business in the third quarter of 2022.
Trademark Coke delivered strong growth through effective execution and occasion-based marketing. Coke has done 2.5 billion transactions in India at affordable price points through the expansion of returnable glass bottles and single-serve PET packages.
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Key Points related to Sprite becoming a billion-dollar brand in India
- Coca-Cola continued to strengthen as it gained a share in sparkling offerings in the first half of 2022.
- Sprite has grown to become a billion-dollar brand in the market, driven by the success of locally adapted, occasion-based global marketing campaigns and screen time.
- Coca-Cola has earlier announced that its Indian soft drink brand Thumps up has become a billion-dollar brand in 2021.
- India is the fifth largest market for Coca-Cola globally.