- Molson Coors Beverage rolled out new nonalcoholic products it plans to introduce this fall as part of its efforts to expand beyond the beer aisle and reach more consumers seeking better-for-you beverages, the company said in a statement.
- The first product launch is Huzzah, a full-flavored seltzer with added probiotics. Other offerings include: MadVine, a 100% plant-based, diet soda without calories, sugar and artificial ingredients; Golden Wing, a grain-based milk alternative packed with proteins and nutrients; and a yet-to-be announced, nootropic performance beverage that provides enhanced focus and nutrition.
- The new offerings come from Molson Coors' minority stake in L.A. Libations, a nonalcoholic beverage incubator, it invested in last year. Around the same time, the company announced it would use its insight in beer to expand its reach into other beverages.
Once the undisputed kings of beer, AB InBev and Molson Coors have struggled to curtail a multi-year slump in sales of their top brands and re-energize brews that have failed to keep pace with changing consumer tastes and trends. As consumers have turned to craft brews, spirits or ready-to-drink beverages like hard seltzers, ciders or coffees, the bigger players have acquired many of these offerings or chosen to start their own.
But so far, these small steps haven't shown signs of paying off. Revenue continues to slide as the new innovations have failed to make up for broader drops in sales of iconic brews such as Budweiser, Miller Lite or Coors Light.
Last year, Molson Coors had enough. As part of a broader reorganization, it changed its name to Molson Coors Beverage Company "to better reflect its strategic intent to expand beyond beer and into other growth adjacencies." It then announced its partnership and investment in L.A. Libations, the incubator that has worked as an accelerator for Body Armor sports drinks and Core Nutrition before they were picked up by Coca-Cola Co. and Keurig Dr Pepper, respectively.
"While we made progress we know it's not enough and taking baby steps would have —," Marty Maloney, a Molson Coors spokesman, said earlier this year before pausing. "Changes were necessary. We needed to get the business back on track."
Molson Coors is no doubt hoping to replicate that success with its suite of offerings. The beverages are all nonalcoholic and hit on the increased consumer demand in eating and drinking healthier, a trend that has picked up further momentum during the ongoing coronavirus.
"Each of these beverages micro-targets a group and problem-solves a very specific challenge that maybe hasn’t been looked at before," Adam Louras, vice president of operations and product development at L.A. Libations, said in a statement.
While the new products tout the prevalence of buzzwords such as probiotics, plant based and protein, Molson Coors will find itself competing with a host of better-for-you offerings already on the market. Still, the company best known for beers already has an extensive distribution network it can tap into to get its products on shelves and a lengthy relationship with retailers.
The first of the new brands to hit shelves will be Huzzah, which launches this September in Southern California. Molson Coors announced three other offerings including a plant-based, diet soda; a grain-based milk; and a performance beverage designed to improve performance without the jitters associated with high-caffeinated drinks that is geared towards gamers and developers.