The Coca-Cola Company will be expanding its brand portfolio to include hard seltzer beverages later this year, a spokesman at the company confirmed for FOX Business.
The new name of the drink is Topo Chico Hard Seltzer and will be made by Topo Chico Mineral Water – a sparkling water company that brought and bottled water in Monterrey, Mexico since 1895 and which was bought by Coca -Cola in 2017 for $ 220 million.
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Topo Chico was reported to be “popular with many mixologists,” according to a statement issued by Coca-Cola on Thursday.
In addition, Coca-Cola’s boozy drinks will be offered in some Latin American cities at some point in 2020. Exact date not specified. Although, the US is scheduled to distribute Topo Chico Hard Seltzer in 2021, a Coca-Cola spokesman told FOX Business.
The Coca-Cola Company – which was estimated at 43.3 percent of the U.S. market share in 2018, according to research by Statista – is no stranger to fizzy drinks or alcoholic beverages. In fact, the company has been building on these categories of beverages in recent years domestically and abroad.
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Apart from Topo Chico, the watermarks of Coca-Cola Dasani, Smartwater, I LOHAS and Ciel all vary the sparkling variants, and at the end of 2019, the company launched the watermark. AHA flavored sparkling.
Meanwhile, in Japan, Coca-Cola introduced Lemon-Do in May 2018. The lemon-flavored alcoholic beverage opens with an ABV content of three, five, seven and nine hundred in a period. nine months, according to a report by the Wall Street Journal last year.
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Interestingly enough, Coca-Cola President and CEO James Quincy told Yahoo! It finances that the company would not sell alcoholic beverages in the United States after the successful launch of Lemon-Do.
However, non-sparkling beverages declined by 12 percent in North America, Western Europe and India, according to Coca-Cola’s 2020 Second Quarter Results. The report stated that the lawsuit was “due to pressure in the gutters away from home.”
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The hard seltzer market, on the other hand, has seen explosive growth in the last two years. The category topped $ 1 billion in off-premise sales during the Fourth of July holiday week, a market research report by Nielsen showed earlier this month.
Beer and alcohol companies have launched or announced plans to launch hard seltzer brands unlike many non-alcoholic beverage companies.
Monster Drink Corp. is one soft drink company that reportedly discussed the potential for internal selection internally, according to a report by The Motley Fool, but Coca-Cola also has a 16.7 percent minority stake in the company, which it bought in June 2015 for $ 2.15 billion.
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