Coca-Cola's Bottler Strategy Evolves: What is the Margin Impact?

Key Takeaways KO's refranchising strategy led to a 130-bps increase in Q1 comparable operating margin. The exit from Philippines bottling and local focus enhanced profitability and resilience. KO stays aligned with bottlers via joint planning while targeting long-term margin growth.The Coca-Cola Company (KO) is steadily reshaping its global bottling footprint through a long-term refranchising strategy that shifts bottling operations to local partners. This asset-light approach allows the company to focus ...