US: Castle Brands brings New Coke marketer on board
Castle Brands is adding to its board
Sergio Zyman, who has also worked for PepsiCo, will consult on marketing strategy for the wine and spirits developer, Castle said yesterday (9 May). “His knowledge and experience in the realm of beverage marketing make him a valuable asset for Castle Brands,” board chairman Mark Andrews said.
According to Fortune magazine, Zyman was in charge of Coca-Cola's launch of “New Coke”, which in 1985 reformulated brand Coca-Cola's 98-year-old recipe. New Coke was abandoned after three months because of a consumer backlash.
Despite the failure of New Coke, Zyman was brought back as Coca-Cola's CMO in 1993 after a seven-year break. Today, he is chairman and founder of Zyman Marketing Group and has written several books on marketing.
In year-to-date results released in February, Castle Brands' net losses widened but saw sales increase by 20%.
This month, Tom Vierhile from Datamonitor looks at the small but booming soft drink sub-category of 'flavour enhancers'; the 21st Century's answer to the squashes and cordials of yore....
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