Coca-Cola FEMSA a joint venture with The Coca Cola Company in 1991 with FEMSA initially owning 51% of the stock. It started expanding its international operations in 2003 when it acquired Panoramico, another Mexican Coca-Cola bottler with operations in Central America, Colombia, Venezuela, and Brazil. It later acquired additional bottling companies in Brazil (its second largest market) as well as the main Coca-Cola bottler in the Philippines in 2013. The company reported revenues of US$ 9.6 billion for 2015. On Coca-Cola FEMSA's 2011 venture into the coffee vending market: On Coca-Cola FEMSA's approach to human resource management, focusing on their operations in
Coca-Cola to create a special version of the famous Coca-Cola Contour bottle. A number of other limited edition bottles by fashion designers for Coca-Cola Light soda have been created in the last few years. In 2009, in Italy, Coca-Cola Light had a Tribute to Fashion to celebrate 100 years of the recognizable contour bottle. Well known Italian designers Alberta Ferretti, Blumarine, Etro, Fendi, Marni, Missoni, Moschino, and Versace each designed limited edition bottles. Pepsi, the flagship product of PepsiCo, The Coca-Cola Company's main rival in the soft drink industry, is usually second to Coke in sales, and outsells Coca-Cola in some