financetom
Economy
financetom
/
Economy
/
Coca-Cola announces its first-ever alcoholic drink
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Coca-Cola announces its first-ever alcoholic drink
Mar 7, 2018 11:10 PM

Coca-Cola is launching the first alcoholic drink in its history with a canned liquor product in Japan.

Share Market Live

NSE

The drinks giant will experiment with a canned beverage called Chu-Hi, made up of distilled Japanese drink shochu, sparkling water and flavoring.

"This is unique in our history. Coca-Cola has always focused entirely on non-alcoholic beverages, and this is a modest experiment for a specific slice of our market," said Jorge Garduno, president of Coca-Cola's Japan business unit, in a post on the company's website.

Japan is a fiercely competitive market, Garduno added, with Coca-Cola launching 100 products a year in the country. "Experimentation is almost like a day-to-day ritual here. You can't fall behind the rapid product cycle in Japan," he said.

The company's sodas only made up about 25 percent of product sales by volume in Japan in 2016, while tea made up 27 percent of Japan's overall beverage consumption in the same year.

Coca-Cola also owns Georgia Coffee in Japan, which it claims is the world's highest-grossing canned coffee drink, making more than $1 billion in annual sales. The country has a Food for Specified Health Uses (FOSHU) government certification, in light of its ageing population and fiber-fortified drink Coca-Cola Plus was FOSHU-approved in 2017.

Having certain drinks at particular times of day is more of an entrenched ritual in Japan than in other part of the world, said Khalil Younes, EVP of marketing and new businesses for Coca-Cola Japan, in a blog post. People might drink green tea with sushi, but opt for oolong tea with fattier Chinese food, for example.

Because of the nature of the Japanese drinks market, it's unlikely Chu-Hi drinks will launch in other countries, Garduno said. "While many markets are becoming more like Japan, I think the culture here is still very unique and special, so many products that are born here will stay here."

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
China says it firmly opposes US export control tools
China says it firmly opposes US export control tools
May 10, 2024
BEIJING, May 10 (Reuters) - China firmly opposes the abuse of export control tools such as the U.S. entity list, a foreign ministry spokesperson said on Friday, after the U.S. added 37 Chinese firms to a trade restriction list over national security concerns. Some of the entities were added to the list for making drones to be used by the...
Fed's Bostic says economy likely slowing, though rate-cut timing uncertain
Fed's Bostic says economy likely slowing, though rate-cut timing uncertain
May 10, 2024
WASHINGTON (Reuters) - The U.S. central bank likely remains on track to cut interest rates this year even if the timing and extent of the policy easing is uncertain and further declines in inflation come only slowly, Atlanta Federal Reserve President Raphael Bostic said in an interview with Reuters. I still have that belief that interest rates can be lowered...
The US Dollar Climbs Beyond Expectations Against The Yen Unveiling A Vulnerable Japanese Economy Amid Historic Currency Fluctuations
The US Dollar Climbs Beyond Expectations Against The Yen Unveiling A Vulnerable Japanese Economy Amid Historic Currency Fluctuations
May 10, 2024
The US dollar is placing the Japanese Yen in a vulnerable position, prompting potential intervention from the Bank of Japan. The continuous depreciation of the yen may lead the Bank of Japan to consider raising interest rates. The USD/JPY currency pair recently climbed beyond 155.00 due to the US dollar's momentum, which has cast the Japanese Yen into a vulnerable...
US Dollar Rises Early Friday Before Preliminary May Michigan Sentiment, Fed Appearances
US Dollar Rises Early Friday Before Preliminary May Michigan Sentiment, Fed Appearances
May 10, 2024
07:57 AM EDT, 05/10/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Friday, except for a decline versus the pound, ahead of the release of preliminary University of Michigan consumer sentiment data for May at 10:00 am ET. The St. Louis Federal Reserve is expected to release its initial Q2 gross domestic product Nowcast growth...
Copyright 2023-2026 - www.financetom.com All Rights Reserved