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In 1993, Coca-Cola re-entered the market, and the three companies competed intensely. Later in the year, Coca-Cola bought the Parle-owned drinks Gold Spot, Limca and Thums Up for $60 million (equivalent to $90 million in 2023). When these were sold to Coca-Cola, Thums Up had a market share of 85 percent in India. [10]
During the peak of the cola wars, as Coca-Cola saw its flagship product losing market share to Pepsi as well as to Diet Coke and competitors' products, the company considered a change to the beverage's formula and flavor. In April 1985, The Coca-Cola Company introduced its new formula for Coca-Cola, which became popularly known as "New Coke".
By 1985, Coca-Cola had been losing market share to diet soft drinks and non-cola beverages for several years. Blind taste tests suggested that consumers preferred the sweeter taste of the competing product Pepsi-Cola, and so the Coca-Cola recipe was reformulated. The American public reacted negatively, and New Coke was considered a major failure.
Pepsi now has an 8.8 percent market share, According to Business Insider, data released by Beverage Digest reveals that Pepsi has beaten out Diet Coke as the second-biggest soda brand in the U.S ...
Coca-Cola's financials are as rock solid as it gets, and it's a company that you can trust for the long haul. Coke's products sell regardless of the economy, and it has premium brands that give it ...
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Along with other Parle brands, Thums Up, Limca, Gold Spot and Maaza, Citra was sold to Coca-Cola in 1993 in a deal that was reportedly worth $40 million. [2] [3] At the time of sale, the Parle brands together had a 60% market share in the aerated water industry. [4] The brand was strong in South India. [5]
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