Coca-Cola to enter hard seltzer market through Topo Chico brand

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Coca-Cola to enter hard seltzer market through Topo Chico brand
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Coca-Cola on Tuesday announced it will release a hard seltzer under its Topo Chico brand later this year.

Coca-Cola will release a hard seltzer under its Topo Chico brand later this year.

The alcoholic beverage will first hit select Latin American cities and then launch in the U.S. in 2021.Coca-ColaThe new drink will be sold in select cities in Latin America. Topo Chico Hard Seltzer will launch in the United States in 2021, making it the company's first foray in alcoholic beverages in its home market for the first time since it sold its Wine Spectrum business in 1983.

Coke acquired Topo Chico in 2017. The sparkling mineral water is cult favorite among Texans, but the beverage giant has been expanding its distribution since the deal. On the company's second-quarter earnings call, CEO James Quincey referred to Topo Chico as a rising star in Coke's portfolio. Both sparkling water and hard seltzer are fast-growing categories for the beverage industry. In 2019, hard seltzer's volume more than tripled, helping reverse the trend of declining global alcohol consumption,

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