Coca-Cola

From a five-cent pharmacy drink to the world's most recognized brand — and the controversies that follow it.

By the Numbers

Origins & History

• Created by pharmacist John S. Pemberton in Atlanta on May 8, 1886
• Originally contained cocaine from coca leaves — removed around 1903
• Sold for $2,300 to Asa Candler, who incorporated the company in 1892

The Secret Formula

• Recipe guarded since 1891 — not written down for decades
• First recorded as collateral for a $25 million loan in 1919
• Today locked in a purpose-built vault at the World of Coca-Cola museum in Atlanta

A Global Empire

• 500+ brands including Sprite, Fanta, Minute Maid, Costa Coffee, and Topo Chico
• Brand valued at $106 billion — among the most valuable on Earth
• 60+ consecutive years of dividend increases — a Wall Street "dividend king"

Health & Science

• A 12-oz can has 39g of sugar (10 teaspoons) — linked to 26% higher diabetes risk
• Daily consumption raises heart attack risk by 20% and premature mortality by 21%
• Industry-funded studies are 4–8× more likely to produce favorable results

The Plastic Problem

• Named world's #1 plastic polluter six years running
• Sells 100+ billion single-use plastic bottles annually
• Projected 9.1 billion lbs/year of plastic by 2030 — a 40% increase
• Quietly dropped reuse targets and cut recycled-content goals in late 2024

Evolving the Portfolio

• Coke Zero Sugar grew 14% in 2025 — fastest-growing segment
• Water, sports, coffee & tea now outperforming core soda
• New launches: Sprite + Tea, Bacardí cocktails, Cherry Float

Digital Transformation

• New Chief Digital Officer role created for AI and data strategy
• AI-powered advertising — including 2025 AI-generated Christmas campaign
• Bottler platforms being digitized for real-time consumer insights

What's Next

• New CEO Henrique Braun takes over March 31, 2026
• Targeting 4–5% organic growth and $12.2B free cash flow in 2026
• Core tension: the flagship product vs. rising health & environmental pressure
• At 140 years old, can the brand evolve faster than the challenges closing in?