Coca-Cola
Soccer Player’s Snub Of Coke Coincides With Stock Value Drop Of 1.6 Percent
It’s hard to tell if there was a direct cause-and-effect connection between the two events, but Portuguese soccer player Cristiano Ronaldo's removal of two bottles of Coke at a Euro 2020 news conference neatly coincided with a $4 billion drop in the market value of Coca-Cola, according to ESPN. Visibly uncomfortable when he saw the Cokes before him, Ronaldo moved the glass bottles out of the camera frame, yelling “Water!” in Portuguese. Shortly thereafter, Coca-Cola’s share price slid 1.6 percent – $4.2 billion – to $55.22, a market value of $238 billion. Coca-Cola, an official sponsor of Euro 2020, responded in a statement that "everyone is entitled to their drink preferences."
CCEP Touts Sustainability In Glacéau Smartwater Ad Campaign
Coca-Cola Europacific Partners’s new ads “highlight the brand’s sustainability credentials and support the return of the on-the-go mission.” On-pack messaging will emphasize the fact that the brand’s bottles are now made from 100 percent recycled PET plastic. A marketing campaign set for July and August will include social media and out-of-home activity. The brand’s 600 ml and 850 ml packs this summer will feature phrases like “I’m not new to this,” ‘Have we met before?,” and “Hi there, me again.” All will help the brand stand out in the cooler and tap into shoppers’ “growing appetite” for recycled packaging.
Acknowledging Innovation Stumbles, Coke Sticks To Portfolio Optimization Strategy
A year and a half into his job as global chief marketing officer, Manolo Arroyo acknowledges the company has made some mistakes in innovation – Coca-Cola Energy, for example, was discontinued in North America after a year on store shelves – but he is confident the portfolio optimization plan is resulting in investment efficiency and effectiveness. The overall plan, based on “human insights” and “superior tasting products,” is to streamline from 400 to 200 master brands. Global category teams are tasked with identifying big opportunities in product categories, countries, and geographies, then allocating marketing dollars quickly. Contributing to marketing effectiveness is the fact that nearly 40 percent of the marketing staff joined the company since 2019 and are responsible for developing audience profiling, data management, CRM, digital commercial activation, and ecommerce.
Coca-Cola To Build Bottling Plant In Pakistan
Taking advantage of Pakistan’s new pro-investor policies, a delegation from Turkey’s Coca-Cola İçecek told Pakistan prime minister Imran Khan that the company was soon going to build a beverage plant in Khyber Pakhtunkhwa. The delegation also presented to the prime minister a report on the socio-economic impact of the company’s investment in Pakistan, particularly in terms of job creation and economic development. They thanked the prime minister for the accommodations extended by the government to the company in its investment ventures.
Earth Island Institute Sues Coca-Cola Over Deceptive “Greenwashing”
In a complaint filed June 4 in District of Columbia Superior Court, San Francisco-based Earth Island Institute alleges that Coca-Cola’s sustainability-focused statements amount to “greenwashing,” or in legal terms, false and deceptive advertising. Despite heavy marketing of its purported green image, the company is the number one plastic waste generator in the world. The company was named the number one corporate polluter for three years in a row by the nonprofit Break Free from Plastic’s Global Cleanup and Brand Audit report. Coca-Cola, PepsiCo, Nestlé, and Unilever are responsible for half a million tons of plastic pollution annually in the six developing countries examined in a report released by international aid agency Tearfund. The Earth Island lawsuit does not seek damages, but rather aims to stop Coke’s allegedly deceptive practices.
Nestle
Nespresso Begins Building Factory In Switzerland
The Lausanne-based Nestlé operating unit has begun construction of a $178 million factory, its second in Romont, Switzerland, to produce premium coffees and support international development in the coming years. The first new production lines are expected to be fully operational by June 2022. The company’s first Romont factory, opened in 2015, produces Nespresso’s Vertuo coffees.
Other Companies
Reed’s Debuts Three Zero-Sugar Keto Beverages
The Norwalk, Conn.-based maker of canned and bottled ginger beer and other ginger drinks is expanding its Virgil’s craft soda range with the introduction of three new zero-sugar, keto-certified variants. The new Virgil’s offerings include Zero Sugar Grapefruit Soda; Zero Sugar Dr. Better, which features a blend of cherry, vanilla, cinnamon and caffeine; and Zero Sugar Ginger Ale. The new beverages will be rolling out in select grocery retailers across the U.S. this summer. A 24-pack of 12-ounce cans is available on Amazon; a 12-pack of 12-ounce cans can be purchased on the Virgil’s website.
Cannabis And Hemp Join The Pantheon Of Beverages That Define Human Culture
The CEO of cannabis ingredient company Vertosa (Oakland, Calif.) believes cannabis is now taking its place among beer, wine, spirits, coffee, tea, and cola as the beverages that Tom Standage’s 2005 book said defined the evolution of human culture. “If we look at how much money is waiting or going into the cannabis space just to help build beverages, there’s definitely going to be a future there,” says Ben Larson. Cannabis and hemp are arguably the most exciting growth opportunities since the Internet, according to Larson, and one of the most important public health policy shifts of current times. An example of the phenomenon is Innoviom (Stamford, Conn.), which markets Tranquini Wowie, a line of relaxation beverages infused with 20 mg of hemp blended with adaptogens such as lemon balm, lavender, chamomile, and L-theanine (from green tea).
2T Water Expands Into Publix Grocery Chain
The Rome, Ga.-based maker of Biotin Water Hair, Skin, and Nails announced that the product is now sold at Publix Supermarkets in the Southeast region. Biotin Water Hair, Skin, and Nails is the first biotin-infused beverage that delivers 300 mcg per 16-ounce plus zinc and folic acid. The beverage line is available in pomegranate, mango peach, grape elderberry, lemon ginger, and watermelon cucumber flavors. The zero-calorie product contains no sugar and is sweetened with monk fruit and erythritol.
Herbal Water Company Aura Bora Raises $2M
The San Francisco-based herbal beverage brand secured the cash in a seed financing round that will help it continue its aggressive distribution expansion, grow its team, and strengthen its direct-to-consumer channel. The funding follows the brand’s latest retail expansion into 7-Eleven, Sprouts, Whole Foods Pacific Northwest, and Fresh Thyme. The company’s craft sparkling waters are infused with herbs, fruits and flowers, and come in Cactus Rose, Lavender Cucumber, Peppermint Watermelon, Basil Berry, and Lemongrass Coconut varieties. The company recently launched a subscription service and a new limited-edition Ginger Meyer Lemon flavor. New investors include actor Scott Eastwood, musician Marley Williams, consumer products accelerator SKU, and CPG-focused venture capital fund Balanced Breakfast.
Soochi Expands Into NZ Supermarket Chains
The five-month-old New Zealand functional food start-up with the RTD collagen spritz beverage is laying the groundwork for launching into several supermarket chains in the country, including Foodstuffs, New World, Pak’n’Save, Four Square, and Countdown. Launched at the end January into cafes, restaurants, Soochi’s online store, and supermarkets such as Farro and FreshChoice, Soochi is a berry spritz infused with collagen, elastin, hyaluronic acid, prebiotics, reishi, and vitamin C, and is formulated to aid skin and gut health. The company plans to export the beverage next year, citing Australia and Singapore as potential markets.
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