Coca-Cola hard seltzer is off to ‘a very encouraging’ start: CEO
Coca-Cola’s (KO) initial foray into selling alcohol via Topo Chico hard seltzers appears to be off to a promising start. “So the early responses in Latin America and Europe are good,” Coca-Cola Chairman and CEO James Quincey tells Yahoo Finance Live. The beverage giant began rolling out the hard seltzer line in Latin America and Europe late in 2020 after striking a distribution deal with beer maker Molson Coors. Coke then debuted four flavors of the product in nine U.S. states in the latter half of March. “It has been in the U.S. for a couple of weeks, particularly in the Southern states and particularly Texas where Topo Chico is very strong,” Quincey added. “And it’s selling well on two weeks of data and a very strong start in Texas. Of course what we are really focused on is how to get more national and how to drive repeat rates. That will be the key, can we drive repeat rates. A very encouraging initial start.”
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