Topo Chico Hard Seltzer is ready to give White Claw and Truly a run for their money.
A previous version of this story misstated the parent company for Corona Seltzer. It has been corrected.
The news comes days after the beverage giant said, during its second-quarter earnings announcement , that it would be shutting down brands and items that don’t have the growth potential of certain smaller brands or its core beverage items.One of the brands that Coca-Cola Chief Executive James Quincey mentioned as having momentum is Topo Chico.Coca-Cola’s entrance into the hard seltzer category comes at a time when the item is soaring.
More recently, both Boston Beer Co. Inc. SAM, +0.91% and Molson Coors Beverage Co. TAP, -1.89% said their respective hard seltzer brands, Truly Spiked & Sparkling and Vizzy Hard Seltzer, are flying off shelves.
The company plans to continue to invest in the brand as new competitors launch. It is also looking at opportunities to be sold in bars and other venues, or “on-premise,” as those opportunities arise. “So I think it’s going to be summer 2021 when we see a big penetration of hard seltzers, and I expect it will get to the point where you walk into a bar or a restaurant and you expect them to have some hard seltzer, probably either Truly or White Claw.”Don’t miss:Domino’s Pizza could snap up market share with ‘improved’ wings
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