We recently introduced you to Coke’s Venturing & Emerging Brands (VEB) unit and explored the team’s approach to investing in small brands with big potential. Today we hear from the entrepreneur behind the newest beverage to join the VEB portfolio – Steve Jones of Core Power – on how partnering with Coke has enabled the mission-driven brand to go further faster. Tell us a bit about Core Power and how Fair Oaks Farms Brands – its parent company – came to be.The mission of Fair Oaks Farms Brands is to build a branded health and wellness platform, powered by the nutrition of dairy, in a wide portfolio of great-tasting products that allow you to live life to the fullest. It all starts with responsible agriculture and animal care you can trust. Our vision is that Fair Oaks Farms Brands will play a leadership role in us having a very healthy productive planet full of very healthy people as our population expands.All great beverage companies start with a great product. And our great product starts with dairy farming. A few years ago, Mike McCloskey – a veterinarian with a doctorate in large animal agriculture – had a vision to produce higher-quality milk by significantly raising the standards for how cows are raised, fed and treated. He sold his vet practice and bought a dairy farm, followed by bigger farms, and eventually formed a progressive dairy co-op in the Southwest. Along the way, he developed and patented a membrane filtration system. This process allows us to separate the five parts of milk, increase the good parts like protein and calcium, and reduce the negatives like lactose without adding preservatives or powders. When you combine sensational-quality milk with this proprietary technology, you get Core Power. One of our most distinguishing qualities is our ingredient list, which is only four lines long. That’s what makes it taste so great. Core Power is marketed as a high-protein sports recovery beverage. But athletes are not the only people who need protein. When we exert ourselves, our muscles lose protein. We need protein to regain strength and build lean muscle. And since our bodies don’t produce enough protein, we need to ingest it. Mike launched the product as Athlete’s HoneyMilk in 2010. I came onboard about that time as an advisor before making a full-time commitment at the end of 2010. We re-launched the brand under the Core Power name in 2012 when Coca-Cola Refreshments started distributing the product last July in Texas, then Colorado. Now we’re in several states in the West, Midwest and Northeast, and a national rollout is underway. How did you connect with VEB? We were not really seeking funding at the time because we were, and still are, a very young company. But we quickly realized that only Coca-Cola could help us do what we hope to do. VEB fully understood and appreciated the Select Milk Producers story and the potential we have to transform an old-fashioned category into a high-growth, high-margin business. They saw an opportunity to get in early on something they believe can become a billion-dollar brand. And they also recognized that we’re not a one-hit wonder… our technology enables us to use protein in so many ways and unleash the full nutritional power of dairy. What specifically did Coke bring to the table? Distribution and marketing are two things all start-up brands need. We knew that only the Coke system could get Core Power into the outlets we need to succeed through their reach and customer relationships. To us, it was an opportunity to go further faster. In a prior life, you were chief marketing officer at Coca-Cola and president of The Minute Maid Company. As a Coke exec-turned-entrepreneur, how would you describe the company’s evolution? Coca-Cola has evolved into an informed and engaged player in the entrepreneurial space. Somewhere along the way, they came to the realization that while they may not invent the next big thing themselves, they should be out there discovering opportunities and forming these partnerships early on. VEB has built a keen understanding and tolerance for the high-risk nature of the entrepreneurial world. And they’re not only interested in investing in emerging brands, but also helping the entrepreneurial community at large become more successful. The VEB team goes to great lengths to help these entrepreneurs, including many they’ll never partner with.
In December 2011, The Coca-Cola Company announced a transaction to acquire approximately half of the equity in Aujan Industries’ beverage business, one of the largest independent beverage companies in the Middle East. The agreement was finalized in the summer of 2012. Today the companies celebrated the billionth can of Rani juice produced under the partnership between Coca-Cola and Aujan. Rani is one of the leading juice brands in the Middle East and Aujan’s flagship brand. Over the years, Rani has established the unique brand property, Float, the fruit juice with real fruit pieces, or “chunks,” which distinguish the brand. Rani Float launched 30 years ago in Saudi Arabia and has since experienced tremendous sales growth across the Middle East, North Africa, Europe and other export markets. The drink is sold in 56 countries and produced at Aujan Industries' state-of-the-art facilities in Dubai, United Arab Emirates. The partnership between the two companies has created a platform to unlock new international opportunities for the Rani brand and begins the next era of growth across the Middle East and North Africa (MENA) region for the Coca-Cola system.
Coca-Cola Great Britain Announces New Actions in Line with Calorie Reduction Pledge LONDON, Mar. 6, 2013 – Coca-Cola Great Britain today announced that it is taking further action to be part of the solution to the global problem of obesity. The new actions are focused on the following three areas:Giving people simple and clear information about the calorie content of its drinksEncouraging people to get active and take part in regular physical exerciseContinuing to offer people more choice in what they drink and raising awareness of low and no calorie alternatives The first step involves the launch of a series of new adverts in the UK. Tonight, a two minute video, titled “Coming Together”, will air on ITV and Channel 4. This video reminds viewers that all calories count in managing weight, including those in Coca-Cola’s products and brands. It will be followed by a second spot, “Be OK”, which will air later in the evening. “Be OK” gives clear information on the number of calories in a can of Coca-Cola and how much physical activity we need to do to burn those calories up. The advert also highlights no-calorie alternative, Coca-Cola Zero, for those who want the great Coca-Cola taste without the calories. The videos form part of a global advertising campaign launched by The Coca-Cola Company earlier this year, aimed at explaining the importance of ‘energy balance’ to manage weight. In the UK, “Coming Together” and “Be OK” will be supported by advertising in print media, and further TV advertisements will follow in the UK over the course of the coming year. The company also announced it was taking further action to implement the commitments made 11 months ago as part of the Department of Health’s Responsibility Deal Calorie Reduction Pledge, to which Coca-Cola was an early signatory. These include: The launch of a new, reduced calorie Sprite in the UK from March 2013: this will contain 30% fewer calories and, instead of being added as a mid-calorie addition to the Sprite range, it will completely replace the current SpriteNew Coca-Cola Zero advertisement: Coca-Cola will launch new Coca-Cola Zero advertising in April. The advert will continue to build consumer awareness of Coca-Cola Zero’s great Coke taste, zero sugar, no calorie message. Over 45% of the Coca-Cola ™ we sell in the UK is Coca-Cola Zero or Diet CokeThe announcement of a renewed three-year partnership with UK charity StreetGames, to 2015, which continues the company’s commitment to deliver a lasting legacy of grassroots sports participation following the London 2012 Olympic Games. Since 2010, Coca-Cola Great Britain’s partnership with StreetGames has helped more than 110,000 young people from some of the most disadvantaged areas in the country access sports on their doorstep.James Quincey, President Europe Group, The Coca-Cola Company said: “Obesity is a serious problem and I am determined we will take more actions in Europe to help address it. The actions announced today build on our earlier efforts and are part of a long-term commitment.” The actions announced today build on Coca-Cola Great Britain’s existing commitments in this area. Our policies: We are committed to providing fact-based nutrition information to help individuals understand and manage their energy balance. In simple terms, this is about giving people the information to make sensible choices. This includes consuming a variety of foods and beverages in moderation and ensuring individual nutrition needs are met, without exceeding the number of calories burned during the day. Our commitment also includes marketing responsibly, encouraging physical activity and innovation to provide greater choice. Calorie Reduction Pledge: in March 2012, the Coca-Cola System in Great Britain announced plans to reduce the calories in some of our leading soft drinks by at least 30%. We plan to reduce the average calories per litre of our range of sparkling soft drinks by 5% by the end of 2014. Nutrition Labelling: since 2003 we voluntarily included nutrition information on the labelling of all our products. In 2007 we introduced Guideline Daily Amount (GDA) labelling on the front of our packaging. This includes calorie information.We are members of the Department of Health’s Responsibility Deal and are partners of the Food, Physical Activity and Workplace Wellbeing Networks.Our products: We are committed to providing a variety of soft drinks for every lifestyle and occasion, along with information to help people make informed choices and live active, healthy lives. We do this by: a) Reducing calories: All of our major brands have a widely available no-calorie, zero sugar or low-calorie alternativeMore than one third of the drinks we sell in the UK are low- and no- calorieMore than 40% of the Coca-Cola™ we sell is no-calorie or zero sugar Since 2007, we’ve reduced the calorie content of: Fanta Orange by 30%; Oasis by 35%; Lilt by 56%In November last year, we reduced the calories in Glaceau vitaminwaterIn March this year, we are introducing Sprite with Stevia in the UK, reducing the overall calorie content of regular Sprite by 30%b) Providing greater choice We offer a wide range of single and multi-serve packs. In 2012, we added to this range with 375ml bottles of Coca-Cola, Diet Coke and Coca-Cola Zero. We will continue to innovate to provide further choice on pack sizesOn all pack sizes above 330ml cans, we indicate clearly that a portion size is 250ml (a soft drinks industry standard)Our programmes: We use the appeal of our company and brands to encourage people to become more active, more often. We do this through: a) Our partnership with StreetGames, which reaches thousands of young people from the UK’s disadvantaged communities, getting them active and involved in sport on their doorsteps. b) Our 35 year partnership with Special Olympics GB which provides year-round sports training and competition for intellectually disabled people. c) As the longest continuous sponsor of the Olympic Movement, we always aim to use each Olympic and Paralympic Games as a catalyst to become a better business and positively impact the communities in which each Games takes place. In partnership with think tank Demos, we created a new evaluation tool to enable corporate sponsors to measure the social value of sponsorship. In addition to providing financial and operational support, our sponsorship of London 2012 was independently evaluated to have generated genuine social value. -ENDS- For further information and to view the new ads, please go to www.coca-cola.co.uk/comingtogether Alternatively, please contact Coca-Cola Great Britain Press Office on 020 7998 6287 or email: email@example.com NOTE TO EDITORS: About Coca-Cola Great Britain: Coca-Cola Great Britain is responsible for marketing 21 brands and over 100 products to consumers across Great Britain, focusing upon developing new brands, extending existing brands and protecting trademarks including Coca-Cola. Other Coca-Cola Great Britain brands include Diet Coke, Coca-Cola Zero, Fanta, Sprite, Dr Pepper, Glaceau vitaminwater, Oasis, Schweppes, 5 Alive, Lilt, Kia Ora, Relentless Energy Drink and Powerade. The Coca-Cola Great Britain portfolio is worth £2,086 million with value sales growth of 4.2% in the past year. Within this, the Coca-Cola Trademark (Coca-Cola, Diet Coke and Coca-Cola Zero) is worth £1,157 million (Neilsen, w/c 19/01/13). Coca-Cola Great Britain is committed to developing innovative, responsible and sustainable initiatives that help protect the environment. Recently, the company launched its PlantBottle™ packaging range made from up to 22.5% plant-based material and up to 25% recycled plastic. For more information about Coca-Cola in Great Britain, please visit our website at www.coca-cola.co.ukMore Ways Coca-Cola Is Helping Fight Obesity:Together for Good in the Fight Against ObesityThe Coca-Cola Company Reinforces Its Commitment to Help America in the Fight Against ObesityGlobal Coke Ads Help Fight Against ObesityCoca-Cola Joins With Pro Sports Teams to Fight Childhood Obesity
ATLANTA, May 9, 2013 – The Coca-Cola Company will release second quarter and year-to-date 2013 financial results on Tuesday, July 16, 2013, before the stock market opens. The Company will host an investor conference call at 9:30 a.m. EDT on July 16, 2013.The Company invites investors to listen to the live audiocast of the conference call at its website, http://www.coca-colacompany.com/investors/index.html. A replay in downloadable MP3 format will also be available within 24 hours after the audiocast on the Company’s website. The Coca-Cola Company (NYSE: KO) is the world's largest beverage company, refreshing consumers with more than 500 sparkling and still brands. Led by Coca-Cola, the world's most valuable brand, our Company's portfolio features 16 billion-dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade, Minute Maid, Simply, Georgia and Del Valle. Globally, we are the No. 1 provider of sparkling beverages, ready-to-drink coffees, and juices and juice drinks. Through the world's largest beverage distribution system, consumers in more than 200 countries enjoy our beverages at a rate of more than 1.8 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that reduce our environmental footprint, support active, healthy living, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. Together with our bottling partners, we rank among the world's top 10 private employers with more than 700,000 system associates. For more information, visit Coca-Cola Journey at www.coca-colacompany.com, follow us on Twitter at twitter.com/CocaColaCo or visit our blog, Coca-Cola Unbottled, at www.coca-colablog.com.
For the fifth year in a row, Fortune magazine produced a photo essay starring the boards of directors of several Fortune 500 companies, a successful startup and one not-for-profit organization for our historic Fortune 500 issue. The boards of major corporations often seem mysterious; these groups of people are responsible for some of the most important company decisions, yet few members of the public know who they are, much less see them together. “The Directors” puts faces to the names and gives our readers a colorful, inside look at the varying personalities advising companies (and CEOs) through good times and bad. It's a monumental effort to get these images, and we are immensely proud to have such important, iconic corporations in this year's portfolio. Coke, certainly, is a standout. Colleen Leahey is a reporter with Fortune magazine. Follow her on Twitter @cmleahey. Read about the Coca-Cola board shoot for “The Directors.”More Articles About our LeadershipWarren Buffett on Why He'll Never Sell a Share of Coke StockCoke Establishes Academy Inspired by Don KeoughSoft (Drink) Power - Interview with Muhtar KentImmigration Reform Good for BusinessBuilding a Resiliant Business in the Eye of an Economic Storm
The Coca-Cola Company’s board of directors recently found itself in an Atlanta warehouse under bright lights, poised in front of cameras. It was the final stop of FORTUNE magazine’s traveling photo shoot for the annual portfolio of The Directors, which hits newsstands this week in the annual FORTUNE 500 issue. Now in its fifth year, the glossy roadshow profiles a handful of the country’s most impressive corporate and nonprofit boards. The Directors captures each board against a backdrop that clearly showcases its mission or brand. For instance, the 2012 issue portrayed the McDonald’s board gathered around a table enjoying burgers and fries, and Procter & Gamble’s board members were pictured holding babies in diapers. The search for the perfect scenario begins months before the shoot itself and involves location scouts, product reviews and extensive research. Read more about the popularity of the issue. For the Coca-Cola shoot on April 24, board members stood on, balanced against and even sat behind the wheels of shiny red Coca-Cola hybrid delivery trucks – just minutes after the company’s annual meeting of shareowners concluded. Renowned photographer Gregg Segal and FORTUNE photo editor Alix Colow decided to create a “room” out of four hybrid Coca-Cola trucks. They believed the red color, contour bottle and Spencerian script logo on the trucks immediately said “Coca-Cola” and would be recognized as the classic, global brand. The hybrid logos on the doors of the contemporary trucks also showed the company’s commitment to sustainability. After a full day of moving the trucks and angling the cabs to better show the side-load compartments, the crew found the perfect spot. Amid laughter and last-minute maneuvers, the shoot took less than 15 minutes altogether and delivered a classic photo of leadership for the world’s most recognized brand. Take a look.More Articles About our LeadershipWarren Buffett on Why He'll Never Sell a Share of Coke StockCoke Establishes Academy Inspired by Don KeoughSoft (Drink) Power - Interview with Muhtar KentImmigration Reform Good for BusinessBuilding a Resiliant Business in the Eye of an Economic Storm
Presenting an idea to a venture capitalist is one of the most important steps an entrepreneur will make during the course of creating a company. If the pitch is successful, it validates the company’s existence and puts the entrepreneur one step closer to making all that hard work pay off. If it’s unsuccessful, the company may not make it off the ground. Venture capitalists say making a great pitch takes specific knowledge about the company, the industry and the audience, as well as the ability to deliver a concise and compelling message in about 20 minutes. Motivation and drive When investors sit down with an entrepreneur to hear a pitch, one of the first pieces they evaluate is whether the person or team is driven and motivated to go out and build a company. Meeting mainly with companies in the early stage, Andreas Stavropoulos, managing director at Menlo Park, Calif.-based Draper Fisher Jurvetson, considers the entrepreneur’s or team’s passion, motivation and why they are taking on this personal risk. “You are often dealing with an entrepreneur who is working day and night on their idea,” he said. “Ideas can change all the time, but one thing you can’t change is how you come across." Stavropoulos looks for ideas that will give a company the chance to get ahead and stay there for many years. He wants those ideas that establish a company as an early player in the market and that will provide an edge over the competition. He also needs to hear how the entrepreneur expects to extract value from his or her company. “I like to say it is an irrational act to start a company because the odds are so against you being successful,” Bryan Stolle, general partner at Mohr Davidow Ventures, also in Menlo Park, said. “It takes incredible focus and the ability to power through things to build the company.” Stolle is also listening for the entrepreneur — who will most likely be the CEO — to show relevant knowledge and information about what problem the company will solve, who the customers will be and the market the product or service will be part of. In addition, he wants the entrepreneur to understand who he or she is pitching. He advises startup founders to arrive at meeting knowing what businesses the venture capital firm invests in, what it needs in terms of a return on investment and know a little about the person sitting across the table. Frank Demmler, vice president of entrepreneurial services at Pittsburgh-based Innovation Works, is looking for someone who he “wants to get in the trenches with.” “There has to be a likeability factor because I want to see them win,” he said. “They also need to be coachable, especially if they are a first-time entrepreneur.” A bad pitch isn't always bad Meetings typically last an hour, Demmler said. During that time, there are usually about 20 minutes set aside for the presentation, which he said should consist of 10 to 12 slides. That might seem a short amount of time to explain something an entrepreneur has worked on for months or even years, but he said the key is figuring out a concise and effective way to communicate. Demmler cautions against any displays of “intellectual arrogance.” “I’ve had people come in talking like they were God’s gift to technology," he said, "and I was fortunate to have the opportunity to cut him a check.” Even though a great pitch goes a long way to ensuring an investor funds a company, Stolle said a person with a great business idea doesn’t have to be a brilliant presenter to get his or her message across. “We’ve funded plenty of companies where the entrepreneur was a poor presenter,” he said. “A bad pitch isn’t one where the person is nervous, but is one where they can’t tell us why their company matters, or why it can be successful.” In addition, an investor and an entrepreneur will most likely develop a relationship, so the experience isn’t a one-shot thing, Stavropoulos said. One of the reasons the person is there in the first place is because the investor heard something that grabbed their attention, he added. “It can be hard to recover if you totally botch it, but seldom do we make a sweeping decision based on one presentation,” Stavropoulos said. However, Nate Redmond, managing partner at Rustic Canyon in Santa Monica, Calif., said a founder losing composure in front of investors can be troubling, indicating how they might perform in high-stress situations, he added. "Starting a company is hard, so I never look down on an entrepreneur," Redmond said. "But any founder looking for money needs to know their business." Last, but not least Stolle gave some tips on what entrepreneurs often miss when preparing for the pitch meeting: 1. Research what the real market is and the size of the market. 2. Be clear on where the money will be spent – meaning when the funds run out, what will the company have accomplished and will it be enough to raise more funds. Investors look out over many years and several fundraisings, not just the immediate one. 3. Do more work on the financial model. Investors want to see projections for at least three years, with five years being even better. “It is not going to be right, and we completely understand,” Stolle said of the financial projections. “We are interested in what that tells us about how you want to build the business, how you think it will play out over time, and what assumptions you are making.”
How is a 126-year-old company building a culture capable of delivering breakthrough innovation that delivers economic, social and environmental value? Guy Wollaert, Coke’s Chief Technical Officer, answered that question and more during an insightful conversation at The Economist’s “Ideas Economy: Innovation Forum,” held last month at the University of California, Berkeley. Watch Wollaert's remarks during the panel discussion – which also featured Peter Diamandis of the X Prize Foundation and Patricia Morrison of Cardinal Health – here: br>More Innovation Stories:Driving the Top Line with Technology: An Interview with Coke's Chief Information OfficerSlingshot: Inventor Dean Karmen's Revolutionary Clean Water MachineStop Selling Us Ads and Do Something Useful
They are changing the face of global businesses. Collectively, they control $20 trillion of worldwide spending. Of what they make, they reinvest ninety percent of their income in their families and communities. They are mothers, sisters and daughters. They are business owners. They are women—women who work and dream of better lives. And in 2013, the financial commitment to grow those dreams was announced in Washington, D.C. The Coca-Cola Company and IFC (International Finance Corporation), a member of the World Bank Group, are coming together in a $100 million, three-year joint initiative to provide access to financing for women entrepreneurs in Eurasia and Africa. The women business owners who will have access to this financing are 5by20 women entrepreneurs who own and operate small and medium sized businesses, such as micro-distribution centers (MDCs), across the Coca-Cola value chain. 5by20 is the Coca-Cola Company’s initiative to enable the economic empowerment of five million women across the company’s global value chain by 2020. IFC’s Banking on Women program will help address financial barriers those women entrepreneurs commonly face in some of the world’s poorest countries. Women at the Heart of Business Many small to midsize retailers in emerging and developing markets are women-owned and operated. Because many of those retailers are located in hard-to-reach communities, Coke relies on small, independently owned distributors or MDCs to deliver beverages to those local retailers. In studying how the MDCs work, Coke found that a high percentage of the distribution centers are owned by women. Upon finding success, women, more than their male counterparts, reinvest their money and time back into building their businesses, families and communities. It was this finding that in 2010 led Coke to launch 5by20, which helps women succeed as entrepreneurs by teaching business skills, providing access to financial services, assets and support networks of peers and mentors. Rosemary Njeri is one of those entrepreneurs. She originally launched her distribution business as a way of helping her husband and supporting her family. She started very small, but with the support of Coke, Njeri received training on stock keeping, book keeping and IT, and management training. As a result, her distribution center has grown from 2 employees to 16 and her thriving business is the second largest of the 37 centers Coca-Cola supports in the urban region of Nairobi. To date, 5by20’s innovative, experiential program has helped nearly 300,000 women entrepreneurs like Njeri get their businesses off the ground and thriving. The Power of Partnerships IFC is among many partners Coca-Cola collaborates with in its 5by20 initiative. Signature global partner, UN Women leverages its reach and influence in promoting gender equality and economic empowerment through Coca-Cola’s value chain and business expertise. Other key global partners include TechnoServe, and the Bill & Melinda Gates Foundation, as well as many other regional NGOs Coca-Cola relies on to impact women throughout the world. Working with business, government and civil society partners to build businesses, communities and champion change is all part of Coca-Cola CEO Muhtar Kent’s “golden triangle” philosophy. Already work related to the new IFC partnership is beginning in Nigeria where Coca-Cola and IFC are working with Access Bank and Coca-Cola’s bottling partner, National Bottling Company of Nigeria to provide financing to women micro-distributors. “This joint initiative is an important step for 5by20 on our journey to reach 5 million women entrepreneurs,” said Charlotte Oades, global director of women’s economic empowerment. “Working with IFC, we are able to create opportunities for thousands of women across our Coca-Cola value chain. And although this work is beginning in Eurasia and Africa, we are exploring ideas for launching similar programs to benefit women in other regions.” "Women entrepreneurs, who account for ownership of about 37% of small and medium sized businesses, are changing the face of the global economy, helping to sustain job creation and economic growth. However, all too often women, who already face societal and cultural barriers also find it more difficult than men to gain access to finance,” said Jin-Yong Cai, IFC CEO and EVP. “This innovative partnership with The Coca-Cola Company’s 5by20 initiative will help us reach these underserved women through their value chain.” In Africa, which is included in the joint initiative, the need for business financing is strong. Women own more than 800 MDCs and an additional 850 are co-owned by women. Of these small MDC businesses, more than 3,400 of them are employing upwards of 19,000 people directly. These numbers are growing rapidly in North and West Africa, and particularly in Nigeria and Ghana, where women own more than 70 percent of the micro-distributors. And since 2009, more than half of all new MDCs created are owned and run by women. Learn more about this initiative. Read the full press release on this partner announcement. Follow our 5by20 Infographic published in the Daily Beast.More StoriesSmart Economics: Coke’s Muhtar Kent Explores Link Between Empowered Women and Stronger CommunitiesAt Davos Investing in Women Emerges as a Business StrategyCoca-Cola India Develops Solar-Powered Coolers for Rural AreasEntrepreneurship for Rural Women, Brought to You by Coca-ColaBuilding Stronger Businesses, Families and Communities One Woman at a Time: A 5by20 InfographicCoke Brings 5by20 Initiative to China to Empower WomenMalehlonoholo Moleko: The Making of an EntrepreneurWomen in the Workplace: A Catalyst for Change The Evolution of Women’s Empowerment at The Coca-Cola Company