Coca-Cola to Cut 200 Beverage Brands

Darnell Taylor
October 25, 2020

Coca-Cola is planning to bid adieu to 200 brands, or half of its portfolio. If anyone's counting, that's half its current beverage portfolio.

The beverage giant had already announced that it will discontinue some beloved, if outdated, drinks, like Tab, Zico and Odwalla.

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Declines in "away-from-home" sales eased to mid-teens range in the third quarter from about a 50% slump in April at the height of lockdowns, while demand for its trademark Coca-Cola and Coca-Cola Zero Sugar also rose.

According to CNN, Quincey didn't reveal all the brands that are getting the boot during Thursday's call with analysts, but noted that the "hydration" category will likely see more cuts. Being fans of these 13 healthy sports drinks for weight loss, you'll have to excuse us if we shed a few electrolyte-enhanced tears.

In the new October 22 statement, James Quincey, chairman and CEO of The Coca-Cola Company, said, "The company expects to offer a portfolio of approximately 200 master brands, an approximate 50 percent reduction from the current number, and phase out some products".

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The iconic beverage brand will work on growing their core products and trending new products like seltzers.

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There's a stark difference between Coca-Cola's successful brands and its struggling ones, Mr Quincey said over the summer. The move is part of a global portfolio refresh prioritizing category-leading brands with the greatest potential for growth and scale, the Atlanta-based company said.

The beverage company said profit was $1.74 billion, or 40 cents a share.

While that decision was contentious among many in the marketing community, who argue brands that invest in marketing through a crisis will benefit once consumer spending starts to recover, it was praised by influential marketing professor and author Byron Sharp in an interview with Campaign in September. In the same quarter a year ago, its net income was recorded at a higher £1.98 billion or 45.84 pence per share. The company saw sales improve in India, Brazil and Japan in the third quarter, for example, but Mexico's recovery has been below expectations.

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