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Diageo companions with Vita Coco on canned cocktail beverage

Diageo companions with Vita Coco on canned cocktail beverage

Diageo partners with Vita Coco on canned cocktail beverage

Dive Temporary:

  • Diageo is partnering with The Vita Coco Firm on a line of premium canned cocktails crafted with Captain Morgan rum and Vita Coco coconut water, the businesses stated in a press release.
  • The providing, referred to as Vita Coco Spiked with Captain Morgan, can be out there in three flavors beginning early in 2023: Piña Colada, Strawberry Daiquiri and Lime Mojito. Diageo will produce, distribute and market the drinks.
  • The product launch is the newest in a sequence of canned cocktails to hit {the marketplace} in latest months — a number of the results of collaborations between beverage firms — as CPGs goal to seize a share of the fast-growing class.

Dive Perception:

With few classes within the alcoholic beverage house as scorching as canned cocktails, firms are launching or asserting new merchandise at a document clip.

In simply the previous few months, Brown-Forman and Coca‑Cola introduced plans to introduce a ready-to-drink cocktail combining Jack Daniel’s Tennessee Whiskey and the enduring soda model; and Beam Suntory, which makes Sauza tequila, rolled out Sauza Agave Cocktails with Boston Beer. Constellation Manufacturers additionally turned to M&A to bulk up its presence when it purchased the remaining stake in Austin Cocktails, a female-founded RTD cocktail firm based mostly in Texas. 

RTD cocktails ranked as the highest grownup beverage that respondents anticipate shopping for extra of this 12 months, in response to Drizly. The alcohol e-commerce agency additionally discovered 73% of respondents stated they might probably get pleasure from RTD cocktails at residence.

In a press release asserting the deal, Diageo and Vita Coco cited Nielsen knowledge exhibiting that rum-based cocktails grew 269% in the course of the 52 weeks ending Feb. 5. The businesses additionally famous that piña coladas, daiquiris and mojitos — the identical varieties being launched with Vita Coco Spiked with Captain Morgan — are rising at a sooner price than your complete spirits-based RTD class.

“Shoppers in tropical areas have been having fun with coconut water as a great-tasting, high-quality mixer of their cocktails for generations,” Mike Kirban, government chairman and co-founder of The Vita Coco Firm, stated in a press release. “Now that coconut water is changing into a family staple throughout america, we needed to make making a scrumptious cocktail a number of steps simpler.”

Vita Coco is by far the market chief within the coconut water house with a 46% market share, larger than the subsequent 10 greatest manufacturers mixed, in response to IRI knowledge cited by the corporate throughout its IPO final 12 months. Equally, Diageo’s Captain Morgan has carved out an enviable area of interest in rum. Each manufacturers are the highest sellers of their respective classes, the businesses famous.

Vita Coco Spiked with Captain Morgan might be a boon to every firm’s model. For Vita Coco, the brand new drink expands its attain exterior of the nonalcoholic house the place it has lengthy thrived, whereas Diageo will get its Captain Morgan title added onto one more product that can assist make its model extra top-of-mind with shoppers. A purchaser of Vita Coco coconut water or Captain Morgan rum might be extra more likely to choose up the cocktail as a consequence of their familiarity with the core model.

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With the canned cocktail class being inundated with extra choices, it’s incumbent upon firms eager to debut a brand new product to seek out methods to distinguish. The Vita Coco Spiked with Captain Morgan does simply that via using coconut water. The truth that coconut water has confirmed profitable as a cocktail in heat climates eliminates a few of the threat that comes with debuting a brand new product within the U.S.

Vita Coco Spiked with Captain Morgan cocktails can be 5% alcohol by quantity and be offered in 12-ounce cans for a advised retail worth of $14.99 per 4-pack. The choice to debut the providing early subsequent 12 months will give the businesses time to excellent the beverage, packaging and distribution whereas nonetheless getting it on retailer cabinets forward of the nice and cozy summer season months.

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