28 July, 2008 – Coca-Cola has revealed that China is already its fourth most lucrative market, with massive potential for expansion.
Chinese customers consumption of Coke’s products totals just 24 a year, compared to 200 in Europe and 400 in the US, said Coca-Cola Vice President for China, David Brooks. Consequently, the soft drinks giant is eyeing substantial growth in the country, he said.
While, Mr Brooks would not reveal exact figures, he did say the Chinese market was Coke’s fourth biggest by sales volume.
Some 80% of Coca-Cola’s profits come from international markets and the company admitted earlier this month the overseas business was helping to off-set weakening US performance that saw it recently report a 23% drop in domestic net income in the second quarter of 2008.