The launch of the new product was a result of changing consumer tastes and preferences, Pillay said, and a way for the company to remain relevant.
The company has spent five years developing the new Coke No Sugar recipe which it claims tastes almost identical to Coke classic. It says that its consumer testers could not tell the difference. Pillay said the launch was a huge change for the company.
"We're launching the biggest product since Coca-Cola itself," Pillay said.
"We've been focusing on choice for so long, particularly in New Zealand, and over the past few years we've transcended that to shaping choice - so providing smaller packs, reducing the amount of sugar," she said.
"Coca-Cola no sugar is now us, actively encouraging no sugar. So this is us, this is Coca-Cola, actively saying here is a no sugar drink, it tastes pretty much the same, it's your choice."