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Coca-Cola executives view doubling system revenue by 2020 "achievable"

05-06-2011 09:02 BJT

ATLANTA, the United States, May 5 (Xinhua) -- The Coca-Cola Company aims to double the system revenue generated by the company and its bottlers from 2010 to 2020, and this ambitious target is achievable, Muhtar Kent, chairman and CEO of the beverage giant, said here Thursday.

In response to questions from Xinhua at a Thursday press conference at the company headquarters, Kent stated that the " Chinese market will continue to grow fast" and it is a "very dynamic consumer market."

"We are very happy with our success" in emerging markets like China and Brazil, he noted.

Kent argued that "a balanced growth" among emerging and developed economies is crucial for the company's success in the future, and Coca-Cola has the capabilities to realize its 2020 Vision.

He told reporters coming from more than 20 countries to celebrate the company's 125th anniversary in Atlanta that the world is changing with a string of fundamental trends including a much bigger middle class, a massive ongoing urbanization and among others.

The Coca-Cola chief noted that the emerging economies including China and Brazil are reshaping the global economic growth landscape, and the world sees a rise of sophisticated young generation powered by new communication tools.

"We have achieved a lot in the past 125 years but are just getting started," he said.

"The world is changing very rapidly," Kent argued, adding that today's consumers should be understood better than previously.

"They expect to engage with brands and contribute. We should be ahead of these trends," contended Kent, adding that nowadays consumers are judging companies not only on the value of their products, but also the characters of the producers.

John Farrell, the company's vice president and chief strategy officer, said that the firm intends to double its system revenue to around 200 billion U.S. dollars from 2010 to 2020 and increase the profit margins.

Farrell held that the goal is doable, while the company is endeavoring to bring innovation to the market faster and create the most efficient business system.

Coca-Cola was created on May 8, 1886 in Atlanta, Georgia by Dr. John Pemberton.

 

Editor:Du Xiaodan |Source: Xinhua

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