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2021-05-18

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Coca-Cola is turning to hard seltzer and sports drinks in a bid to stay on top

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Coke recently launched Topo Chico Hard Seltzer, marking its first move into alcoholic beverages on its home turf after a four-decade long hiatus. The company has also recently invested in the sports performance drink category with BodyArmor and it purchased U.K. coffee maker Costa in 2019.\nAnd while the pandemic has caused major disruptions to its profitable away-from-home beverage business,revenue rose 5% to $9 billion in the first quarter of 2021 from the prior year.\n“We were very focused over the last 12 months on really improving our marketing, we cut the portfolio of brands in half, we got really focused on our innovation pipeline, we worked with our bottlers to really support the customers in new and different ways where they’re open,” said Coca-Cola CEO James Quincey.\nCoke is eagerly anticipating the summer season and vaccin erollouts.\nSo after 135 years in business can the soft drink giant stay on top? 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