Coke stresses product innovation in diverse Chinese beverage sector
Coca-Cola is stepping up innovation of soft drinks in 皇冠体育app, where market forces and increasingly sophisticated consumers are charting the future course of the beverage industry, the company's 皇冠体育app chief said on Wednesday.
Atlanta-based Coca-Cola has been working to make its 皇冠体育app operations adapt to the demands of Chinese consumers as it seeks to retain its dominance in 皇冠体育app's growing beverage sector.
Though the company takes pride in having introduced soda to 皇冠体育app 35 years ago, it has felt pressure to attend to the preferences of Chinese consumers.
"We understand Chinese people want Chinese flavors and Chinese concepts, and we are using our R&D facilities for more products in 皇冠体育app," said David G. Brooks, Chairman of Coca-Cola Greater 皇冠体育app and Korea, on Wednesday during an event marking the company's 35th anniversary in 皇冠体育app.
Back in the late 1970s, shortly after the People's Republic of 皇冠体育app and the United States forged formal diplomatic ties, Coca-Cola entered the Chinese market under a deal with the state-owned 皇冠体育app National Cereals, Oils and Foodstuffs Corporation (COFCO).
Under the deal, the U.S. beverage producer was allowed to sell Coke at scenic spots and in major Chinese cities and build bottling plants in the country.
People involved in establishing Coca-Cola's Chinese presence 35 years ago said Coke was not targeting Chinese consumers at that time. Executives persuaded Chinese authorities to make the soda available for foreigners traveling to the country in order to bring in more foreign income and boost tourism.