Remember those classic contour glass refillable Coca-Cola Co (NYSE: KO) bottles? Well, they’re coming back. The company announced that the curvy bottles will become available in several emerging markets.
What Happened: With consumers around the world feeling the impact of inflation, Coca-Cola is looking for ways to cut costs on its beverages by returning to cheaper refillable glass bottles. This is in light of the skyrocketing prices of many commodities, including aluminum.
The returnable glass bottles will be available in Hong Kong, South America and Africa. Coca-Cola is also experimenting with using the bottles in the Southwestern U.S., according to Reuters.
Environmental Impact: The move is also considered environmentally friendly, allowing consumers to return the bottles for reuse. The bottles will use 60% recycled glass materials and be a third lighter than previous bottles, making them easier to hold.
The company says the transparent bottles will be convenient to return and a bottling plant will then clean, disinfect and refill the bottles. The repackaged beverages will then be relaunched in the market with new labels added.
On Monday, Coca-Cola reported first-quarter net revenue growth of 16% year-over-year, to $10.49 billion, beating the consensus of $9.83 billion. Revenue performance included an 11% growth in concentrate sales and a 7% growth in price/mix.
KO Price Action: Coca-Cola shares were trading 0.41% higher on Monday afternoon at $65.30, according to Benzinga Pro.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.