Molson Coors CEO: Ice Tea-Flavored Brew Will Unlock Sales
Molson Coors (NYSE: TAP) is introducing an ice-tea flavored beer that the company believes will reverse declining volumes in the US as well as unlock sales upside in international and emerging markets.
Molson Coors Chairman and CEO Peter Swinburn told CNBC he has absolute faith growth will return to the markets. He sees his company's newest offering, the Coors Light Iced Tea, Carling Zest, as an example of the innovation driven by the ever-discerning consumer-generated insights.
Asked on CNBC's Squawk Box whether flavor contains the key to reverse declining sales trends across beer sales, Swinburn said he believes it is the targeting of those occasions not currently satisfied by beer that are the key to success, rather than simply flavor. He noted that his newest products married the market's leading beer with the leading product in non-alcoholic refreshments, which he thinks will find new takers not currently in the company's market share.
TAP shares have seen pressure lately. Yesterday, they closed at $42.32 a share.
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