Word: coking
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Pepsico CEO Roger Enrico is seeing an awful lot of red in his first few months as captain of the blue team. Throughout July the renowned cola warrior got to witness the marketing frenzy associated with the Games in Atlanta, a.k.a. the Coke Olympics. Coke is riding Olympic glory to an 8% increase in sales so far this year, twice as fast as its great rival...
...comes news from Europe, and it's even worse. Russia's gone red. Again. Coca-Cola CEO Roberto Goizueta told TIME that Coke has overtaken Pepsi in Russia, a market of huge size (150 million people) and scope, erasing the 10-year head start Pepsi enjoyed as the Official Party Cola. Coke opens its 12th plant there this week, staffed by locals trained in Coke's bottling university in Moscow. It's all part of Coke's relentless push across the continents. "The conclusion is obvious," says Goizueta with his typical detachment. "Our system has terrific momentum...
...products such as sugar-free Pepsi Max, new bottling alliances, and new advertising combined with an old arrogance that Pepsi's marketers have always had in two-liter sizes. None more so than Christopher Sinclair, who led Pepsi's international soft-drinks business. He told Fortune in 1994, "If Coke starts growing 8%, we'll do 10% or 12%." He predicted non-U.S. sales of $5 billion...
...score? Coke has increased its lead and helped itself to shares of some of Pepsi's prime territories. Internationally Coke's market share increased to 49.2% last year while Pepsi's was flat at 15.7%. In South America, Coke was expanding its 55% market share even before the Caracas Caper. In India, a market Pepsi has owned for decades, Coke bought the leading soft-drinks maker in 1994 and is now top dog. Coke sold $12.7 billion worth of products outside the U.S. last year. Pepsi's non-U.S. sales last year totaled $3.2 billion. And Sinclair...
...Venezuelans, holding a 40% market share; the country of 21 million was one of Pepsi's Top 10 global markets. The relationship was cushioned by the friendship between PepsiCo boss Enrico and Oswaldo Cisneros, CEO of Embotelladras Hit de Venezuela, the Pepsi bottler there. But Cisneros became a Coke convert for a reported price of $300 million, a whopping chunk of cash for half interest in the business. The swiftness of the deal left Pepsi's regional president, Alberto Uribe, sputtering with rage: "Oswaldo Cisneros was my friend. He sent me four lawyers and a judge to tell me this...