You are just quoting Buffett. A powerful brand by itself does not create a moat. Cue Qantas and Mercs. With CCL in Australia, the power of the brand cannot be leveraged via price increases, or wider distribution, and there is no volume growth. In Indonesia, the so called dynamics may be more favourable with fragmented retailer and nascent distribution networks.
CCL Price at posting:
$9.49 Sentiment: None Disclosure: Not Held