Why Coca-Cola has lost its fizz

摘要

The 1980s and 1990s were Coca-Cola's glory years. Under legendary CEO Roberto C. Goizueta Coke stock soared 3,500 percent over 16 years, with little real threat suggested from chief rival PepsiCo. Since Goizuata's death in 1997, however, the drinks giant's cup has not been quite so bountiful. In 2003, Coca-Cola's value fell by 4 percent to $67.3bn (£37.7bn), sales of Coke Original in the UK fell by 5 percent, trust in the brand fell by 3 percent to 52 percent and shares plummeted. By contrast, Pepsi's sales and earnings have increased notably and it is putting more pressure on its nemesis than ever before. But why this shift of fortunes in the so-called cola war?