Jackie DeAngelis of FOX Business analyzes the market reaction to the coronavirus.
The Coca-Cola Company will expand its brand portfolio to include a hard seltzer drink later this year, a company spokesperson for FOX Business confirmed.
The name of the new drink is Topo Chico Hard Seltzer and it will be made from Topo Chico Mineral Water, a sparkling water company that supplies and bottles water in Monterrey, Mexico since 1895 and was purchased by Coca-Cola in 2017 for $ 220 million. .
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According to reports, Topo Chico “has been popular with many mixologists,” according to a press release issued by Coca-Cola on Thursday.
Additionally, Coca-Cola alcoholic beverage will be offered in select Latin American cities sometime in 2020. An exact date has not been specified. However, the United States plans to distribute Topo Chico Hard Seltzer in 2021, a Coca-Cola spokesperson told FOX Business.
The Coca-Cola Company, which had an estimated 43.3 percent of the U.S. market share in 2018, according to Statista research, is no stranger to carbonated drinks or alcoholic beverages. In fact, the company has been developing these beverage categories in recent years at home and abroad.
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Outside of Topo Chico, the Coca-Cola Dasani, Smartwater, I LOHAS, and Ciel watermarks have brilliant variations, and in late 2019, the company launched its AHA-flavored watermark.
Meanwhile, in Japan, Coca-Cola introduced Lemon-Do in May 2018. The lemon-flavored alcoholic beverage spread with ABV contents of three, five, seven, and nine percent over a nine-month period, according to a report. from The Wall Street Journal last year.
| Heart | Security | Latest | Change | Change% |
|---|---|---|---|---|
| KO | COCA-COLA COMPANY | 47.69 | -0.33 | -0.69% |
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Interestingly, Coca-Cola President and CEO James Quincy told Yahoo! It funds the company not to sell alcoholic beverages in the United States after the successful launch of Lemon-Do.
However, soft drinks declined 12 percent in North America, Western Europe and India, according to Coca-Cola’s second-quarter 2020 results. The cause was “due to pressure on the channels outside the home,” the report said.
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The hard beer market, on the other hand, has experienced explosive growth in the past two years. The category topped $ 1 billion in off-site sales during the week of the July 4 holiday, a Nielsen market research report showed earlier this month.
Beer and alcohol companies have launched or announced plans to launch hard beer brands unlike most soda companies.
Monster Beverage Corp is a soft drink company that has reportedly discussed the potential of the hard seltzer internally, according to a report by The Motley Fool, but Coca-Cola also has a minority stake in the company of 16.7 percent, that it bought in June 2015 for $ 2.15 billion.
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