Under Coca-Cola's local portfolio, Sprite follows Thums Up in achieving this new milestone.
Why it matters: Surpassing $1 Billion in sales just recently, the soft drink company has now joined the leagues of Thums Up which reached this milestone.
Sprite drink has the highest household penetration in the company's India portfolio.
Coca-Cola continued to strengthen as it gained a share in sparkling offerings in the first half of 2022.
What was said: In the earnings statement for the third quarter ended September, the world’s largest beverage company said that unit case volumes grew 9% in the Asia-Pacific region, driven by solid growth in India and China.
By the number: The company's net revenue grew 10% to $11.1 billion in the July-September period owing to price hikes.
India is the fifth-largest market for Coca-Cola globally.
The company drove 2.5 billion transactions in India at affordable price points through the expansion of returnable glass bottles and single-serve PET packages.
This achievement can be credited to the "Success driven locally adapted, occasion-based global marketing campaigns," said James Quincey, chairman and chief executive officer of the Coca-Cola Co., in a post-earnings conference call.
Competition: Coca-Cola's earnings mirrored rival PepsiCo Inc, which also saw its beverage volume grow in double digits in India in the 12 weeks that ended Sept.
Summary: Sprite has followed Thums Up's footsteps in becoming the second billion-dollar beverage brand under Coca-Cola's portfolio.
