Cherry Coke launches in China, with cans featuring likeness of Warren Buffett
Buffett, a ‘financial god’ in the region is the beverage’s most well-known fan
Billionaire Warren Buffett is helping Coca-Cola launch Cherry Coke in China, and even allowing the soft drink company to use his likeness on cans to promote the launch.
Buffett, whose Berkshire Hathaway owns a 9.3 pe rcent stake in Coca-Cola, has previously indicated he drinks Cherry Coke daily.
“I can’t think of a better way to launch Cherry Coke than with its best-known fan on the package,” Coca-Cola Chairman and CEO Muhtar Kent said in a release. “It is an honour for us to be able to feature Warren on his favourite drink as it rolls out in one of the world’s most exciting and dynamic consumer markets.”
Cherry Coke was launched in the Chinese mainland on March 10 and Buffett’s likeness will appear on special edition cans during a promotional period and while supplies last, the company said.
Cherry Coke has been available in the U.S. since 1985.
Buffett has a huge following in China, where he is lauded for his success as an investor. Each year, more and more Chinese investors are flocking to Omaha for Berkshire’s annual meeting.
Last year the Omaha World Herald reported more than 3,000 Chinese investors travelled to the meeting.
“Warren Buffett is the financial god in China,” said Linda Steele (neé Lin Chongning), a founder of the Nebraska Chinese Association in Omaha, told the paper. “He is being praised in China as the one who can never be beaten in the stock market. Many Chinese investors are crazy about him.”