News

VENEZUELA: PepsiCo Venezuela closes gap with Coca-Cola

Most popular

Is craft spirits approaching a reset moment?

'Healthy alcohol - the trend to watch in 2019?

The beer category in 2018 - Review

The just-drinks Analyst returns

MORE

By Owain Johnson

Sales of Pepsi in Venezuela have grown by 72% in the last two years and are approaching those of Coca-Cola, according to PepsiCo's strategic partner in Venezuela, Empresas Polar.

Coca-Cola still possesses 56% of Venezuela's cola market, leaving Pepsi with 44%, but Pepsi has increased its market share by 14% in the last two years.

"We are still in second place in the market, but we are increasingly closing the gap between us and the market leaders," Polar's director of soft drinks and sports drinks, Gustavo Hernández, said. "We have definitely stopped being a distant competitor and are now a real threat."

PespiCo and Polar's joint goal is to establish Pepsi as the market leader in Venezuela by 2005. The company has already exclusive contracts with a number of local fast-food chains to counterbalance Coca-Cola's global alliance with McDonald's.

Coca-Cola is produced and distributed in Venezuela by local company Panamco. Hernández said Panamco's accounts, which were presented to the Caracas Stock Exchange, show the company's sales are falling, despite the generally buoyant performance of the Venezuelan soft drinks market.


Companies: PepsiCo

Related Content

PepsiCo CEO lays ground for North America cola war as Pepsi loses out to Coca-Cola

PepsiCo CEO lays ground for North America cola war as Pepsi loses out to Coca-Cola...

Sugar shortage hits Coca-Cola Femsa in Venezuela as H1 profits fall - results

Sugar shortage hits Coca-Cola Femsa in Venezuela as H1 profits fall - results...

The Coca-Cola Co Performance Trends 2013-2017 - results data

The Coca-Cola Co Performance Trends 2013-2017 - results data...

Coca-Cola Co Q2 2017 by region - results data

Coca-Cola Co Q2 2017 by region - results data...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?