Constellation brands launch Corona hard seltzer this spring
USA | Constellation Brands will spend USD 40 million, its biggest-ever single-brand investment, to launch its Corona brand hard seltzer this spring, marketwatch.com reports.
Per the website, Corona hard seltzer will come in four flavours: tropical lime, mango, cherry, and blackberry lime. Retailers have already made space on the shelves for the new brand, William Newlands, Constellation’s Chief Executive Officer, said on 8 January 2020.
“Our research shows that seltzer is taking share across the board from beer, wine and spirits,” he said, according to a FactSet transcript. Most of that share is coming from the beer category.
Banking on Corona’s brand image
Constellation’s brands include Modelo and Corona beers. Mr Newlands is confident that the Corona brand will propel the new hard seltzer to success. “The strength of Corona in that whole refreshment, relaxation, beach experience is perfect for this,” he said.
Mr Newlands has noted increased hard seltzer consumption from new consumers, and those who already drink the beverage.
More than 82 million nine-litre cases of hard seltzer were sold in 2019, according to IWSR, a data firm, which translates into dollar sales in excess of USD 1.4 billion.
The hard seltzer category is a crowded one, with big names like White Claw (Mark Anthony Brands), Truly (Boston Beer) and Bon & Viv (AB-InBev) in the lead. White Claw alone has a market share of 64 percent, followed by Truly at 21 percent.
How Constellation can make significant inroads remains to be seen.
Hard seltzer, spiked seltzer or hard sparkling water is a fairly novel alcoholic beverage, made with carbonated water, alcohol, and often fruit flavouring. The alcohol by volume is around 5 percent and the calorie content is relatively low.
