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Coca-Cola is entering the hard selfie market



Coca-Cola will expand its portfolio of brands to include a hard selfie drink later this year, a company spokesman confirmed to FOX Business.

The name of the new drink is Topo Chico Hard Seltzer and it will be made by Topo Chico Mineral Water – a carbonated water company that has been extracting and bottling water in Monterey, Mexico since 1895 and was purchased by Coca-Cola in 2017 for $ 220 million.

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Topo Chico is reportedly “popular with many mixologists,”

; Coca-Cola said in a statement on Thursday.

In addition, the drink Coca-Cola will be available in selected cities in Latin America at some point in 2020. The exact date is not specified. Although the United States should distribute Topo Chico Hard Seltzer in 2021, a Coca-Cola spokesman told FOX Business.

Coca-Cola – which had a 43.3 percent market share in the United States in 2018, according to Statista surveys – is no stranger to fizzy drinks or spirits. In fact, the company has been upgrading these categories of beverages in recent years at home and abroad.

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Outside of Topo Chico, the water brands Coca-Cola Dasani, Smartwater, I LOHAS and Ciel all sparkling options, and at the end of 2019 the company launched its flavored carbonated water brand AHA.

In Japan, meanwhile, Coca-Cola unveiled Lemon-Do in May 2018. A lemon-flavored alcoholic beverage with an ABV content of three-, five-, seven- and nine percent over a nine-month period, according to a report by The Wall Street Journal last year.

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KO COCA COLA COMPANY 47.69 -0.33 -0.69%

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Interestingly, Coca-Cola President and CEO James Quincy told Yahoo! Funded that the company will not sell alcoholic beverages in the United States after the successful launch of Lemon-Do.

However, soft drinks fell 12 percent in North America, Western Europe and India, according to Coca-Cola’s second quarter of 2020. The reason was “due to pressure in channels outside the home,” the report said.

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On the other hand, the market for hard selfies has had explosive growth in the last two years. The category surpassed $ 1 billion in off-premises sales during the week of the Fourth of July, according to a Nielsen market research report earlier this month.

Beer and alcohol companies have launched or announced plans to launch hard brands of selfies, unlike most soft drink companies.

Monster Beverage Corp. is a soft drink company that has internally discussed the potential of hard selfies, according to a report by The Motley Fool, but Coca-Cola also has a minority stake in the company of 16.7%, which it bought in June 2015 for $ 2.15 billion,

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