After being the pet beverage for over billions of people across the globe, the soft drink giant, Coca-Cola is all set to launch is first ever alcoholic drink. Taking a leap forward, Coca-Cola will launch the canned alcoholic beverage in Japan for the first time ever in its 120+ years of existence. The company is planning to sell the alcoholic beverage in Japan from this year (2018) itself. With its canned alcoholic drink, Coca-Cola is planning to take a share in the growing market for Chu-hi. One the fastest growing and most loved drinks in Japan, Chu-hi is a canned flavoured drink which is typically made with sparkling water and shochu, a Japanese spirit distilled from grains.
With the new beverage, Coca-Cola might be saying ‘bye bye’ to the soda business. The new drink by the giant is said to be highly Japan-centered. Talking to CNN, Coke’s spokesperson Yohko Okabe said that the drink is aimed to get a big share in Japanese market given the complexity and richness of Coke’s range of products in the country. However, the company failed to share any more details about their new product. However, as per a recent blog post, the president of Coca-Cola in Japan stated that the drink will be extremely ‘unique’ in Coke’s history.
Meanwhile, this is not the first attempt by Coca-Cola to expand its wings to other beverages. Earlier, in 1997, Coke tried to diversify into wine, purchasing Taylor Wines of New York and establishing Wine Spectrum that comprised Sterling Vineyards and Monterey Vineyard. However, they exited the business almost 6 years later, selling it for around $200 million. One of the reasons why the company will be launching its alcoholic beverage in Japan is because the country is one of the company’s most competitive and fast-changing markets. Coca-Cola says it launches about 100 new products there every year.For all the latest Business News, download NewsX App