05.04.2017 00:48:03
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Warren Buffett Appears On Cherry Coke Cans In China
(RTTNews) - Billionaire investor Warren Buffet's cartoon face will feature on special edition Cherry Coke cans in mainland China.
The company, which introduced Cherry Coke in the Asian nation on March 10, will offer the Buffett cans for a limited time while supplies last, according to a Bloomberg report.
Berkshire Hathaway, the investment company owned by Buffett, holds 9.3% of Coca-Cola stocks, worth about $17 billion, according to Bloomberg. Buffet has been a major shareholder in the beverage giant for over a quarter-century and spent about $1.3 billion building the stake.
Buffett is often seen or pictured in public drinking Cherry Coke. According to reports, Buffett drinks about five cans of Coke per day.
"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.
"We honestly were surprised when Mr. Buffett agreed to the idea. But we're thrilled, and he's selling well," Shelly Lin, Coca-Cola China's Marketing Director for Trademark Coca-Cola said.
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