Cans of light cola Tab brand soft drink produced by the Coca-Cola Company are displayed in a supermarket in the Brooklyn neighborhood of New York on July 26, 2011.
Ramin Talaie | Historic Corbis | Getty Images
Coca-Cola said on Friday that Tab, its first diet soda, was among the drinks destined for retirement as it reduced its beverage portfolio.
The coronavirus pandemic has accelerated the beverage giant’s transition to focus on its bigger and more popular brands, like its eponymous soda. Coke also recently announced a restructuring plan to help it become more efficient and develop new products faster. The global pandemic caused Coke’s profits to drop 33% in the second quarter, but CEO James Quincey, who has run the company since 2017, said he was trying to emerge from the crisis stronger than before.
Other drinks that will no longer be produced by the end of the year include Odwalla products, Zico coconut water, Coca-Cola Life sweetened with stevia and Coca-Cola Diet Coke Feisty Cherry. Regional drinks like Northern Neck Ginger Ale and Delaware Punch are also set to go.
“It’s about continuing to follow the consumer and being very intentional in deciding which of our brands deserves the most of our investment and resources, and also taking the difficult but important steps to identify which products are losing value. their relevance and should therefore fall out of the portfolio, “Cath Coetzer, global head of Coke’s innovation and marketing operations, said in a statement.
Coke first introduced Tab to consumers in 1963, targeting the zero-calorie drink at women. In the 1970s and 1980s, as Americans tried fad diets, diet soda became more popular but faded once diet Coke was introduced in 1982. The company said Tab had maintained. a “small but loyal” number of fans over the past decades.
More than half a century after the launch of Tab, Coke is banking on Diet Coke and Coke Zero Sugar to satisfy consumers’ cravings for sugar-free, low-calorie soda.
Coke is expected to release its third quarter results on Thursday. Shares of the company, which has a market value of $ 216 billion, have fallen 9% so far this year.