When someone brings up Coca-Cola, you likely think of the popular soft drink or another Coca-Cola product. However, few are aware that the soda giant has partially pivoted to alcoholic beverages. The company is moving forward with its experiment in the alcoholic drink space that has the potential to transition to the sale of Coca-Cola spirits and other alcoholic beverages across the world.
Will Coca-Cola Shake up the Alcoholic Drink Game?
Coca-Cola’s Chief Executive Officer and Chairman Jams Robert B. Quincey recently gave a speech at the Sanford C. Bernstein Strategic Decisions conference earlier this month in which he touched on the prospect for the company’s experimentation with alcoholic beverages to grow into something more significant. Quincey responded to the inquiry by stating that Coca-Cola’s experiments with alcoholic beverages have been interesting.
Coca-Cola has branched out in recent years, offering its own soda-coffee concoction along with Topo Chico Hard Seltzer through a partnership with Molson Coors Beverage Co. The corporate tandem is also poised to release Simply Spiked to the public in the months ahead. Spiked is the alcoholic form of the company’s Simply brand drinks.
Fortune Favors the Bold!
When it comes to business and most other aspects of life, fortune favors those who take chances. Coca-Cola is pushing the envelope this year, debuting new alcoholic drinks within and also outside of the United States. As an example, the company teamed up with Constellation Brands to bring Fresca mixed cocktails to the market.
The question is whether Coca-Cola can disrupt the alcoholic drink market that has been dominated by hard seltzers for several years. Coca-Cola’s entry into the summer drink wars foray will certainly be interesting even if it proves unsuccessful. There is no arguing that the company’s willingness to take on the industry stalwarts and attempt to capture market share is a net positive for thirsty consumers.