(Bloomberg) -- Simply Lemonade is preparing to sell alcoholic versions of its ubiquitous juices.
Molson Coors Beverage Co. expanded its agreement with Coca-Cola Co. to develop fizzy alcoholic iterations of some of Simply's best-selling beverages, including its signature and strawberry lemonades. Simply Spiked Lemonade is set to hit shelves this summer and will be available in slim-can 12 packs as well as 24-ounce standalone containers, according to a Molson Coors statement.
The launch is Molson Coors' latest push to “aggressively grow” its portfolio of products that sell at a higher price point under its revitalization plan, which seeks to expand the company's products beyond beer. Last year, Molson Coors launched Topo Chico Hard Seltzer in an agreement with Coca-Cola. Simply is Coke's second-largest brand in the U.S. by net revenue after its iconic soda.
“Over the past two years, we've seen success by shaking up existing categories with new brands,” Molson Coors Chief Marketing Officer Michelle St. Jacques said in the statement.
While hard seltzer has made significant inroads in the U.S., there are signs that the category is losing some fizz. The $4.4 billion category in the U.S. has slowed in channels such as liquor stores on a year-over-year basis, according to Bloomberg Intelligence.
©2022 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
