Beverage giant Coca-Cola is reconsidering its brand set-up and is planning to discontinue around 200 brands. The world’s largest US beverage corporation owns hundreds of different brands and it is constantly extending the list. So, this is the first time Coca-Cola has cut almost half of its portfolio. According to the third-quarter revenue report, the company will stop selling such products as diet drink Tab, Zico coconut water, Odwalla juice, and some local brands. So, very soon, customers will no longer find some of their favorite Coca-Cola drinks. At the same time, Coca-Cola is planning to increase its global coffee sales by 4% per year. In Q3 2020, Coca-Cola’s revenue fell by 9% to $8.7 billion whereas in the second quarter it was down by 28%. Its net profit plunged by 33% to $1.7 billion. Obviously, the shutdown of cafes and restaurants worldwide has adversely affected the company’s financial performance.
