China, Cherry Coke, and the Oracle of Omaha

BH Media eliminates 289 jobs, including 12 at The Press

Cherry Coke launched in China last month, the company said.

Warren Buffett's face will appear on cans of Cherry Coke in China, an attempt by Coca-Cola to capitalize on its biggest and most famous investor. The company cited Buffett's popularity among Chinese people and investors as the reason why it decided to make him the face of Cherry Coke in the country.

Anyone buying a Cherry Coke in China will soon be seeing the world's richest Cherry Coke drinker staring right back at them.

Buffett has also become a rockstar in China in recent years with the growth of the country's investor class. Omaha.com has reported between 2,000-3,000 investors from China attended Berkshire Hathaway's annual meeting last year.

Shaun Rein, founder of the China Market Research Group, said business leaders in China tend to have an "outsized" following, in some case more than sports stars.

Buffett is known to be a fan of Cherry Coke and has been pictured drinking the beverage many times, his investment firm Berkshire Hathaway is Coca-Cola's biggest shareholder, with almost 10 per cent of the total shares. Berkshire Hathaway, in addition to being Coke's biggest shareholder, owns almost 10 percent of Chinese vehicle maker BYD Co.

Buffett told Yahoo Finance that he won't receive any direct compensation for the Coke endorsement, but he was happy to help sell the products made by a company he believes in. "But we're thrilled, and he's selling well", Lin continued.

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