CHINA TOPIX

11/21/2024 07:40:38 pm

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Limited Cherry Coke Cans With Warren Buffett's Face Debut in China

Coca-Cola introduced Cherry Coke in the Asian nation on March 10.

(Photo : Twitter) Coca-Cola introduced Cherry Coke in China on March 10.

Billionaire Warren Buffett has announced that he will be working with Coca-Cola to launch Cherry Coke in China.

The billionaire investor has allowed the soft drink giant to use his likeness on cans to promote the launch of Cherry Coke in the Chinese market. Coca-Cola said that the cans would be available for a limited time, while supplies last. The company introduced Cherry Coke in the Asian nation on March 10. 

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Warren Buffett’s Berkshire Hathaway owns a 9.3 percent stake in Coca-Cola. The 86-year-old billionaire has been a major shareholder in the beverage giant for over a quarter-century and spent about $1.3 billion building the stake. Berkshire is considered as Coke’s largest institutional shareholder.

He said that he consumes Cherry Coke daily, an average of five cans everyday. Buffett has been seen sipping the popular soda beverage at public events. 

“I can't think of a better way to launch Cherry Coke than with its best-known fan on the package. It is an honor for us to be able to feature Warren on his favorite drink as it rolls out in one of the world's most exciting and dynamic consumer markets,” said Coca-Cola Chairman and CEO Muhtar Kent in a press release.

The American business magnate is popular in China, and Chinese investors have tried to copy his business tactics. Annually, more Chinese investors are flocking to Omaha, Nebraska for Berkshire’s annual meeting. In 2016, Berkshire webcast its meeting for the first time and offered simultaneous translation in Mandarin only.

The special-edition Cherry Coke cans will be available as well in the United States during Berkshire’s annual shareholder meeting in Omaha in May.

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