Maaza joins billion-dollar club, 2nd Indian Coca-Cola brand to achieve this feat

Maaza, Coca-Cola’s mango-based fruit drink, has become a billion-dollar brand in 2024, becoming the second desi brand under the beverage giant's portfolio to reach this milestone, Chairman and CEO James Quincey said during the company's post-earnings call on Tuesday.

Maaza now stands as Coca-Cola's 30th billion-dollar brand globally. In India, the company’s business "rebounded nicely during the quarter," with volume growth, Quincey added.

The milestone comes three years after Thums Up, another desi brand, became Coca-Cola’s first Indian-origin billion-dollar brand in 2021.

Both Maaza and Thums Up were acquired by Coca-Cola in 1993 from Ramesh Chauhan of Parle Bisleri, alongside other brands like Limca and Gold Spot, as part of the company's re-entry into the Indian market.

Maaza, launched in 1976, continues to enjoy strong domestic sales. Coca-Cola now boasts three billion-dollar brands in India, including Sprite, which crossed the threshold in 2022. Unlike Maaza and Thums Up, Sprite was introduced to the Indian market by Coca-Cola.

India remains Coca-Cola's fifth-largest market globally. In 2024, the company expanded its reach by adding around 440,000 outlets through digital customer platforms, he said.

Globally, Coca-Cola’s unit case volume grew 1% in 2024, driven by strong performances in Brazil, India, and Mexico. The December quarter saw a 2% growth in volume. The company reported a 6% increase in net revenues to $11.5 billion for the quarter, while full-year revenues rose 3% to $47.1 billion.

Coca-Cola also reported net gains from refranchising its bottling operations in parts of India, amounting to $13 million for the December quarter and $303 million for the full year, including post-closing adjustments. The company incurred $7 million in transaction costs related to these refranchising activities in 2024.