Desi soft drink brand Thums Up has become a billion-dollar brand in 2021, global soft drinks major The Coca-Cola Company, which owns the brand, said.
“Our local Thums Up brand became a USD one billion brand in India, driven by focussed marketing and execution plans,” said The Coca-Cola Company Chairman and CEO James Quincey on Thursday evening during a post-earnings call.
Thums Up was acquired by The Coca-Cola Company in 1993, when the Atlanta-headquartered company had re-entered into the Indian market, from Ramesh Chauhan of Parle Bisleri.
Coca-Cola had then bought the entire portfolio of aerated drinks from the Chauhan brothers, which also included Gold Spot and Limca.
Brand Thums Up was launched almost 45 years ago in 1977, after Coca-Cola had exited from the Indian market after the then Morarji Desai government had directed it to reduce the ownership stake of its Indian operation.
This is the first home-grown Indian beverage brand, scaling to billion-dollar sales and is one of the leading players into the aerated drinks market in the country.
For the three months to December 2021, the maker of Sprite and Limca drinks said its brands gained market share month-on-month.
In the fourth quarter, Coca Cola’s initiatives in India to build omnichannel presence and marketing campaigns around key occasions by leveraging festivals and passion points, through occasion-led marketing and integrated execution, drove a sequential increase in market share and nearly 30 per cent growth in transactions for the quarter.
The Coca-Cola Company, on Thursday, reported a growth of 17 per cent in its net revenue to USD 38.7 billion, and organic revenues grew 16 per cent.
“This performance was driven by 9 per cent growth in concentrate sales and 6 per cent growth in price/mix,” it added.
In the Asia Pacific Market, in which India falls, Coca-Cola’s Unit case volume grew 11 per cent resulting in a low single-digit increase versus 2019.
“Growth was driven by China, India and the Philippines, partially offset by pressure in Australia due to the impact of the pandemic. Growth was led by Trademark Coca-Cola and sparkling flavours,” it said.
