In Coca-Cola’s second quarter, which ended on June 26, the company saw sales drop 28% to $7.2 billion.
“We are shifting to prioritizing fewer but bigger and stronger brands across various consumer needs,” Quincey said. “At the same time, we need to do a better job nurturing and growing smaller, more enduing propositions and exiting some zombie brands.”
More than half of Coca-Cola’s 400 brands are ones with “little to no scale” and have sales that represent only 2% of total revenue, Quincey said.
Quincey did not name specific brands the company was considering dropping, and a Coca-Cola spokesman declined to provide additional comment.
– CNN Business’ Danielle Wiener-Bronner contributed to this report.
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