It looks like China will be the first market to have Cherry Coke with Warren Buffett’s face on the cans.
Bloomberg reported that Coca-Cola, which introduced Cherry Coke in China on March 10, will offer the Buffett cans for a limited time while supplies last. Coca-Cola cited Buffett’s renown in China and attempted to capitalize on its biggest and most famous investor.
Buffett’s investment firm, Berkshire Hathaway Inc., owns 9.3% of Coca-Cola -- a holding valued at about $17 billion. Buffett's net worth is estimated to be about $75 billion.
He has been a major shareholder in Coca-Cola for more than a quarter-century. And apparently the high sugar content of coke, a whopping 39 grams (about 10 teaspoons) per 12 oz can, does not concern the 86-year-old. Buffett has said that he drinks about five cans of Coke per day, and that he stays young by "eating like a 6-year old."
At his company’s annual meeting last year, Buffett said his happiness from drinking the soda outweighs health benefits from eating more vegetables.
“I have not seen evidence that convinces me that it’ll be more likely I reach 100 if I suddenly switched to water and broccoli,”Well, good for Coke to have such a devoted fan as a major shareholder. However, there might be a disconnect in Coca-Cola's marketing strategy.
Although Coca-Cola has no specific target market, most of the target marketing is geared towards young people. So presumably the 'sweet spot' target age group for Coke or Cherry Coke is at least decades younger than Buffett. I get that Buffett is famous in China as a billionaire investor of the West, but his picture on a Cherry Coke can just seems a tad out of place.
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