Warren Buffett Is the New Face of Cherry Coke in China
The limited-edition packaging features the face of the billionaire investor.
Coca-Cola’s ko biggest fan and most famous investor will be helping to pitch the beverage conglomerate’s newest foray into China.
For a limited time, shoppers in the country of 1.3 billion people will be able to buy cans of Cherry Coke printed with Warren Buffett’s face, Bloomberg reports. The flavor was launched in the Chinese market on March 10.
Berkshire Hathaway, the investment company owned by Buffett, holds 9.3% of Coca-Cola stocks, worth about $17 billion, according to Bloomberg.
“I can’t think of a better way to launch Cherry Coke than with its best-known fan on the package,” Muhtar Kent, chairman and CEO of Coca-Cola, said in the company’s press release. The company cited Buffett’s popularity among Chinese people and investors as the reason why it decided to make him the face of Cherry Coke in the country.
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“Four or five months ago, [Coca-Cola CEO Muhtar Kent] said they were going to introduce Cherry Coke into China and asked me about putting my picture on the cans and bottles,” Buffett told Yahoo Finance. “I said it would be fine to do it for the first six months after launching the product.”
The billionaire investor is well known for his love of Coca-Cola, drinking on average five cans a day. “There’s no evidence that I will any better reach 100 if I had lived on broccoli and water,” he said at a company meeting last year.