NEW YORK (AP) Coca-Cola is featuring a different type of celebrity on its cans in China: Warren Buffett.
It turns out that the Oracle is quite popular in China and could help the brand's image.
Buffett is so well known in China, when his Berkshire Hathaway began streaming its annual meeting online a year ago, it was translated real-time into Mandarin Chinese. Buffett is also seen as "a non-corrupt, down-to-earth" person in the country, Rein said. The flavor was launched in the Chinese market on March 10.
The drinks giant is now tapping into Buffett's huge popularity among Chinese investors and consumers.
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The data helped support the gain in financial stocks, which are closely correlated to the pace of economic growth. Wholesale gasoline rose 2 cents to $1.70 per gallon and heating oil gained 2 cents to $1.57 per gallon.
"People like Jack Ma and Warren Buffett have cult status due to their success", said Carter Chow, China CEO of marketing agency J Walter Thompson.
Coca-Cola said it was "surprised" that Buffett let the firm use his face.
Buffett told Yahoo Finance that four or five months ago, Kent had said they would introduce Cherry Coke into China and asked him about putting his picture on the cans and bottles. At his company's annual meeting previous year, he said his happiness from drinking the soda outweighs health benefits from eating more vegetables.
Buffett's appeal has attracted big money in China in the past. "But we're thrilled, and he's selling well". In opening remarks, Buffett said he was delighted to have people around the world joining, but noted the meeting was being simultaneously translated into just one language: Mandarin.
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