- At Diageo, product innovation currently accounts for about 13% of business, but at an event in London, the company announced its plan to have product innovation account for 20% of its business in the next five years.
- Diageo has announced new products, including Guinness Golden Ale, Pimms Cider Cup, a pineapple variety of Ciroc, and others.
- On the boost in innovation at Diageo, U.K. managing director Andrew Cowan said, "We recognise that innovation needs to be at the heart of our commercial strategy, and at Diageo we want to grow our business by getting people to drink better, rather than more," according to Marketing Magazine.
Product innovation isn't Diageo's only strategy for growth and attracting more consumers. Diageo announced last week that it would begin printing nutritional information on its products' packaging. Earlier this month, the company announced a $400 million investment into its newly acquired brand, Don Julio Tequila, which Diageo received in a trade with Casa Cuervo, to whom it traded its Bushmills Irish whiskey brand.
Editor's note: An earlier version of this post said these products were coming out this summer. This post had been updated to clarify the unveiling.