Coca-Cola to launch Topo Chico hard seltzer brand in Latin America6 Aug 2020
The hard seltzer market has seen phenomenal growth and now Coca-Cola is getting into the space with the launch of Topo Chico Hard Seltzer. Coke announced the alcoholic beverage will be released in select cities in Latin America later this year. In 2021, the beverage will make its way to the United States, according to CNBC.
Launching an alcoholic beverage will mark the first time that the Atlanta-based company creates and sells a libation in the Western Hemisphere. In 2018, the company debuted Lemon-Do in Japan, which is a canned drink made with carbonated water and the Japanese liquor shochu. Last year, the initial launch geography was expanded due to the popularity of the brand in Japan.
Coke has made no secret of its mission to pare down its portfolio and focus on brands that are surefire wins and revenue starters. In a second quarter earnings call, company CEO James Quincey announced that the business will focus on “prioritizing fewer but bigger and stronger brands.” While this means that certain names may be cut entirely from supermarket shelves, it also means that rising stars like Topo Chico will receive extra attention. Quincey called out the Mexico-based sparling water as a focus for the company’s portfolio.
Both sparkling water and hard seltzer have been booming segments in the beverage category. UBS analysts expect hard seltzer to grow 66% annually to reach $2.5 billion by 2021. Sparkling water isn’t far behind. Nielsen data showed that canned sparkling water sales rose 43% between 2017 and 2018.
With such demand for these categories, a beverage that combines these two megatrends is likely to grab significant attention from consumers that are already familiar with the brand that Coke purchased in 2017.
Coke said in a press release that it will provide more detailed information on the new product closer to launch.
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