Thrive, an online food ordering platform that competes with Swiggy and Zomato, may soon see beverage producer Coca-Cola as a minority stakeholder, according to a recent media report.
The investment could be Coca-Cola’s first in India, however the amount has not been announced.
According to a leading media house, the strategic investment will give Coca-Cola a competitive advantage by allowing users to order Coca-Cola beverages with meal orders submitted on the Thrive app.
Coca-Cola can also use the agreement to sell package offers and meal combos, as well as promote loyalty coupons.
Jubilant FoodWorks, which operates Domino’s Pizza in India, earlier purchased a 35 per cent share in Thrive for around 224.75 crore with the intention of expanding its direct delivery capabilities and gaining access to consumer data.
According to the report, Coca-Cola’s emphasis on meal and food pairings has been a primary strategy to expand consumption occasions, as mentioned by Sanket Ray, Coca-Cola’s India and Southwest Asia president, during a recent earnings call.
So far, the corporation has concentrated on exclusive global relationships, such as one with McDonald’s, which only offers Coca-Cola beverages in its restaurants.
Coca-Cola debuted its worldwide meals platform ‘Coke is Cooking’ in Kolkata in September 2021 to promote ordering its beverages with food from eateries in order to improve visibility.