Ravi Jaipuria, often hailed as the “Cola King of India,” has amassed a staggering net worth of ₹152,130 crore through his strategic acumen and relentless perseverance in the beverage industry. Born in 1953 into a traditional Marwari family, Jaipuria inherited a passion for business from his father, Chunni Lal Jaipuria, who became Coca-Cola’s bottling franchisee. However, the 1977 foreign exchange laws led to Coca-Cola’s exit from India, presenting a significant challenge for the Jaipuria family.
As Coca-Cola departed, the Jaipurias pivoted to bottling Thums Up, a rising local brand. Tragedy struck in 1985 when Ravi’s wife died in a plane crash, and the business was divided among the three Jaipuria brothers in 1987. Ravi, the youngest, faced the daunting task of managing the Agra bottling plant while Pepsi entered the Indian market in 1991, aiming to capture the significant market share previously held by Thums Up. Ravi Jaipuria opted to partner with Pepsi as their bottling partner. This decision led to the establishment of a new company named Varun Beverages Limited (VBL) on June 16, 1995, named after his son. Under his leadership, VBL began operations in Jaipur and soon expanded to Alwar, Jodhpur, and Kosi. By 1997, Ravi was honored as Pepsi’s Bottler of the Year, a testament to his successful transition and expansion.
The Indian soft drink market faced a crisis in 2003 when Pepsi and Coca-Cola’s brands were found to contain pesticide levels significantly higher than permitted, leading to a 40% drop in sales. During this tumultuous period, Indra Nooyi became the first female CEO in Pepsi’s 44-year history, launching the “Performance with Purpose” mission. This initiative aimed to reduce sugar and sodium in Pepsi’s products, resulting in a 11% growth in sales by 2014, reaching ₹9,000 crore from India alone. Varun Beverages Limited made a notable debut on November 8, 2016, with an IPO valued at ₹1,112.50 crore, which was oversubscribed by 1.86 times. By 2018, VBL secured exclusive contracts to promote Tropicana and Gatorade in North and East India, achieving sales of ₹3,958.5 crore. The company’s success extended beyond India, securing distribution contracts for PepsiCo’s products in Nepal, Sri Lanka, Morocco, Zambia, and Zimbabwe. Despite its global expansion, India remained the core market, contributing 80% of VBL’s ₹13,429.40 crore revenue in 2022.
Today, VBL generates revenue of ₹16,400 crore and operates across 27 Indian states and six countries. As Pepsi’s second-largest franchisee outside the USA, VBL contributes 90% of Pepsi’s sales in India. Ravi Jaipuria’s visionary leadership and strategic decisions have cemented his status as a prominent figure in the global beverage industry, earning him the well-deserved title of the “Cola King of India.”
