Coke: Markets in India, China Recovering Quickly

Company CEO said that economies in the emerging world are getting healthier faster.

March 08, 2010

NEW YORK - Coca-Cola Co. CEO Muhtar Kent said that the economies in emerging-market countries like India and China are starting to recover more quickly than developed regions, Bloomberg reports.

"The emerging world is in a healthier situation as we are exiting the tunnel," said Kent during a TV interview late last week.

Coke has used international markets to bolster falling U.S. volume sales of soda since at least 2006. The economies of Japan, North American and Western Europe will continue to see further troubles, he said, adding that creating jobs should be the most important U.S. priority.

"The consumer is still confused," said Kent. "For durable consumer goods there??s no question, there is a reset in the minds of consumers in the Western world."

Four months ago, Coke revealed its game plan called 2020 Vision, with Kent vowing to double revenue within a decade to reach $200 billion. He added that profit margins would rise and beverage servings would increase two-fold to more than 3 billion during the next 10 years.

Kent also pointed to uncertainty in Slavic markets, like Belarus, Russia and the Ukraine. "We??re going to see more volatility," he said. "It could bounce back quicker, but then we may have another dip."

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