Dive Summary:
- In a recent earnings call, Coca-Cola CEO Muhtar Kent announced that Gold Peak teas, released in 2006, are quickly becoming the next billion dollar brand.
- Bolstered by double digit growth for the last 24 quarters in a row, Gold Peak has seen phenomenal growth in its relatively short lifespan.
- Gold Peak saw a 4% rise in global volume during the first quarter of 2013, assuming a positive role in the weakening soft drink market.
From the article:
In North America, volumes rose 1%, with a 6% rise in still beverages offsetting a 1% drop in sparkling, where sales were impacted in part by “lousy weather, payroll tax and the price of gasoline”, said CFO Gary Fayard. While the economic environment in Europe remains uncertain, there were "pockets of growth" in Germany, Scandinavia and Great Britain, such that overall volume growth in Europe was flat, he said. ...
