Coca-Cola Co., the 129-year old Delaware-incorporated beverage manufacturer headquartered in Atlanta, Georgia, had issued a statement on Friday saying that it would no longer continue its energy drink in the North America, however, the product would remain available on other parts of the world as the beverage maker appears to be focusing more on newer categories amid strident push from rival PepsiCo.
In point of fact, latest move from Coca-Cola Co. to phase out its energy drinks from North American market came forth weeks after its arch-rival PepsiCo had shored up presence in the category with a purchase of Rockstar Energy alongside a rollout of a fruity flavours Mountain Dew and a new version of its energy drink targeting morning customers.
Aside from that, a day earlier, PepsiCo had unwrapped a promo of a new drink, Mountain Dew Rise Energy, featured by former Coca-Cola endorser NBA star LeBron James. If truth is to be told, such kind of slanderous market landscape for Coca-Cola Co.’s energy drink which it had set out back in November last year, coupled up with a heightening competition from PepsiCo, could vindicate Coca-Cola Co.’s decision to peter out its energy drinks from N.
America, suggested several industry analysts.
Coco Cola Co. phases out energy drink business in N. America
Nevertheless, Coca Cola Co.’s energy drink, Coke Energy, launched on November last year as beforementioned, came up with guarana extracts alongside Vitamin B in different flavours in a bid to attract younger clienteles, though the energy drink with higher caffeine dose that costed more than a regular soda can, had failed to grab attentions amid growing competitions from rivals likes of PepsiCo’s Mountain Dew.
Besides, Coca Cola Co. Chief Executive James Quincey was quoted saying that the beverage maker was looking to actively switching its brand-focus to more powerful “trademarks” using a phased approach while optimizing market space with new product launches.