Online food ordering platform Thrive, which competes with Swiggy and Zomato, could soon have beverage maker Coca-Cola as a minority stakeholder, as per a media report. The move could mark Coca-Cola’s first startup investment in India, although the deal’s size is yet to be disclosed.
What Happened? According to an Economic Times report, the strategic investment will offer Coca-Cola an edge over its competitors, allowing consumers to order Coca-Cola beverages alongside food orders placed on the Thrive app.
Additionally, Coca-Cola can leverage the partnership to offer customized orders, sell package deals and meal combinations, and promote loyalty codes.
Jubilant FoodWorks, which operates Domino’s Pizza in India, had previously acquired a 35% stake in Thrive for roughly ₹24.75 crore, intending to expand its direct delivery capabilities and access consumer data.
Coca-Cola’s focus on meal and food pairings has been a core strategy to increase consumption occasions, as stated by Sanket Ray, Coca-Cola’s India, and Southwest Asia president during a recent earnings call, notes the report.
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The company has so far focused on exclusive global partnerships, such as the one with McDonald’s, which only sells Coca-Cola beverages at its outlets.
To increase visibility, Coca-Cola launched its global meals platform called ‘Coke is Cooking‘ in Kolkata in September 2021, to promote ordering its beverages with food from restaurants.
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