Coca-Cola is discontinuing Zico coconut water and eyeing other brands for the ax, spurred on by the pandemic.
Coca-Cola is discontinuing Zico coconut water and eyeing other brands for the ax, spurred on by the pandemic.
Zico, acquired by Coca-Cola in 2013, never met performance expectations, and its sales plunged during the pandemic, according to the Wall Street Journal. It had a 20% market share last year, but dropped to 4% this year.
Getting rid of Zico fits into a larger plan to cut back and divest underperforming brands, partly because of the pandemic and partly as a long-term company strategy. Other products under review include Diet Coke Feisty Cherry, Coke Life and some regional brands.
Coca-Cola has had to concentrate on producing enough of its mainstream brands to satisfy demand that has intensified during the pandemic. However, it has previously said that it seeks to reduce its global portfolio of brands, now at about 500, by half. It announced in July that it is closing down Odwalla, the juice and smoothie company it has owned for 19 years.
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