April 11, 2020
Manuel “Manolo” Arroyo, the Company’s President for APAC, during his visit to India before the nationwide lockdown spoke extensively about dealing with the global pandemic, economic recessions, and building billion-dollar brands through ups and downs of tough business times .
In less than five months after, Manuel “Manolo” Arroyo dawned an additional role of global chief marketing officer, the world got enveloped into a horrific crisis unlike anything seen in past history. Last month, Coca Cola which owns mega brands like Coke, Fanta, Sprite, Minute Maid, Thums Up and tea and coffee brands – Georgia and Costa, withdrew its 2020 outlook, citing the impact of the COVID-19.
At the outbreak of the COVID-19, Manuel said that the company is trying to do its best to support the communities and help prevent further spread of the virus. The Company is also supporting the needs of the local consumers, its employees and valued customers. Coca Cola has prized the health, safety and security of people first. The company will continue to evolve its business models to the changed scenario, staying close to the suppliers, bottling partners and customers and also promises to continue work to keep the confidence of the investors involved.
Manuel added, “To ensure our products’ availability, we maintain business continuity plans to address any supply chain challenges that could arise. We also have rapid response teams throughout the world to help identify issues that may need to be resolved so we can continue to operate efficiently and effectively. The company has had this process in place for 20 years”.
Manuel is of the view that in wake of the prevailing eco-socio-political scenario of disruptions, Coco Cola has sustained since 130 years. The Company since has witnessed almost everything, and that includes layoffs, hyperinflation, massive devaluations, some closure etc. In tough times, one needs to invest more, and that’s one of the keys to long-term success. Coca-Cola has always been focusing on strong long-term growth and performance, and will continue with it.
Appreciating Indian economy for development, Manuel expressed, “India in the last 5 years has grown what most of the other geographies have not even seen in 20 years. The speed of change in India is somewhat similar to the pace in China, some years ago. So, everyone has been focused on China so much so that the companies missed out on the fact that there is a new, even better lion than China that has come in, and that is India. As a company, we see India as a bigger bet, geographically than any other geography around the world and that includes everyone”.