Dive Brief:
- Coca-Cola Company can now add three more brands, Fuze Tea, Gold Peak, and I Lohas, to its billion-dollar sales club, which now contains 20 brands.
- The addition of Fuze Tea and Gold Peak have helped to solidify Coca-Cola's position in the global tea industry, as it has surpassed growth of the entire market over the past two years.
- As an example of the success of these brands, the ready-to-drink tea market enjoyed 30% growth from Gold Peak alone, making it the fastest-growing tea company in the U.S.
Dive Insight:
Coca-Cola has been on a roll with new and existing brands as of late: stevia-sweetened Coca-Cola Life, a new less-sweet Canadian Coke recipe, and its premium milk product, Fairlife. These successes fly in the face of its current financial issues as it slashes jobs amid the falling soft drinks industry.