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The Coca-Cola Co doubles Fuze Tea value after co-ordinated launch - CEO James Quincey

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The Coca-Cola Co CEO James Quincey has praised a one-day 'super-launch' for Fuze Tea that has doubled the global value of the brand since the start of this year.

Coca-Cola CEO James Quincey praised the one-day launch in Europe for Fuze Tea

Coca-Cola CEO James Quincey praised the one-day launch in Europe for Fuze Tea

Highlighting the power of Coca-Cola's distribution network, Quincey said the co-ordinated launch into 37 European countries showed off the system's "flexible and agile approach". "This is a great example of how we can rapidly lift and ship proven successful brands and scale them quickly," Quincey said.

The low-sugar Fuze Tea was rolled out across Western Europe and Central & Eastern Europe in January as Coca-Cola targeted health and wellness trends. The product - a blend of fruit flavours, botanicals and tea extracts - initially launched in 2012 in 14 international markets and saw accelerated growth to US$1bn status in less than three years. Prior to the one-day launch in Europe, it was available in about 50 countries.

Describing the January launch, Quincey explained: "At the beginning of this year, we initiated a complex roll-out. This required a flexible and agile approach as we successfully launched the brand in 37 countries in a single day. We still have a lot of distribution to build, [and] we are ahead of plan.

"With this expansion, we have effectively doubled the value of the Fuze Tea brand globally."

Quincey was speaking after the release of Coca-Cola's Q1 results yesterday in which a North America turnaround for the Diet Coke brand helped drive global sales and volumes growth. Quincey praised a recent overhaul of Diet Coke for reversing declines that date back to 2010.
He said the brand has had a "strong start", but warned that it is still early days for the redesign, which includes a new slimline can and flavours.

"We are encouraged by the initial consumer response," Quincey added. "Importantly, I'm pleased to see the team take bold action to change the trajectory of the results."

The CEO also said that a new sugar tax in the UK should not prove too disruptive but warned that Classic Coke sales may be hit in Q2. The sugar tax, which affects sodas with more than 5g of sugar per 10cl, came into force in the country earlier this month.

The Coca-Cola Q1 2018 - results data


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