Coca-Cola will be gauging interest in a potential newcomer to its U.S. sparkling water portfolio that has a pilot project in Atlanta.
The Coca-Cola Co. (NYSE: KO) hosted a tasting of its Valser water at Kevin Rathbun Steak on Thursday, pitching This particular as “America’s first taste of Switzerland’s finest water.” This particular’s part of a one-month campaign being tested at restaurants around the Big Peach.
Coca-Cola acquired Valsar in 2001 along with its “made by mountains” marketing has proven well-liked in Switzerland. Meanwhile, imported premium sparkling water will be the fastest-growing segment of the bottled water category.
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The testing comes after the Atlanta beverage giant ditched its typical research along with development formula by using a crowdfunding platform, San Francisco-based Indiegogo Inc. The Coke team steering the Indiegogo test are part of an “Atlanta-based innovation team” focused on faster feedback.
“Given how rapidly consumer tastes are changing, our team will be challenged with taking risks, testing, iterating along with cycling through ideas quickly to see what works,” said Dave Preston, vice president of innovation for Coca-Cola North America, on the company’s website. “We saw Indiegogo as an opportunity to quickly get Valser out there along with see if there will be a demand.”
Preston said his team will be considering similar tests with different brands by Coke’s global portfolio.
While net revenues were down 8 percent, to $8.9 billion, within the company’s most recent earnings report, the company’s no-sugar sparkling soft drink portfolio accelerated by the first quarter, that has a 7 percent retail value growth.
This particular’s a growing, along with competitive, category, along with the company has generally leaned on its Venturing & Emerging Brands unit to acquire companies in which can reach the ever-important millennial demographic. No acquisition was bigger than its $220 million acquisition in October of Topo Chico, one of Mexico’s most well-liked sparkling waters. within the first quarter of 2018 – the company’s first full quarter of ownership – Topo Chico’s distribution in convenience stores increased by 25 percent.
Coke has also added a variety of completely new flavors to existing water brands, including for Dasani along with its coconut water, Zico Coco-Lixir.