The Coca-Cola company will expand its brand portfolio to include a hard salter beverage later this year, a company spokesperson confirmed to Fox Business.
The new drink is named Topo Chico Hard Seltzer and will be made from Topo Chico Mineral Water – a sparkling water company that has sourced and bottled water in Monterrey, Mexico since 1895 and purchased by Coca-Cola in 2017 for $ 220 million had gone.
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According to a press release issued by Coca-Cola on Thursday, Topo Chico reportedly “has been popular with many mixologists”.
In addition, Coca-Cola’s boozy drinks will be introduced in select Latin American cities at some point in 2020. An exact date has not been specified. However, the US is scheduled to deliver the Topo Chico hard salter in 2021, a Coca-Cola spokesperson told Fox Business.
The Coca-Cola Company – which had an estimated 43.3 percent of US market share in 2018, according to Statista’s research – is no stranger to sparkling drinks or alcoholic beverages. In fact, the company has been building on these beverage categories domestically and abroad in recent years.
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Outside of Topo Chico, Coca-Cola’s water brands Dasani, Smartwater, i Lohas and CL are all HV sparkling variants, and in late 2019, the company launched its flavored sparkling water brand AHA.
Meanwhile, in Japan, Coca-Cola debuted Lemon-Do in May 2018. Lemon-flavored alcoholic beverages rolled out over a nine-month period with an ABV content of three-, five-, seven- and nine-percent, according to one The Wall Street Journal report last year.
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Interestingly, Coca-Cola President and CEO James Quincy told Yahoo! Finance suggests that after the successful launch of Lemon-Doo, the company will not be selling alcoholic beverages in the US.
However, according to Coca-Cola’s Second Quarter 2020 results, soft drinks declined by 12 percent in North America, Western Europe and India. The report stated that the reason for this was “due to pressure in distant channels”.
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On the other hand, the hard salter market has witnessed explosive growth in the last two years. The category topped $ 1 billion in off-premises sales during the July holiday week, Nielsen’s market research report showed earlier this month.
Beer and alcohol companies have planned or launched a hard salter brand unlike most soft drink companies.
Monster Beverages Corp is a soft drink company that has discussed the potential of a hard salter internally, according to a report by The Motley Fool, but Coca-Cola has a minority stake of 16.7 percent in the company, which it bought in June 2015 for 2.15 billion. Bought in dollars. .
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