Coca-Cola is taking one of its products off the market.
It will no longer be available in the US and Canada by the end of the year.
What about Germany?
Atlanta - For about two years now, Coca-Cola has also been selling an energy drink in German supermarkets.
But now the parent company is taking the “Coca-Cola Energy” brand from the market,
chip.de
reports
.
With the introduction of the Energy brand, the Coca-Cola group wanted to increase the pressure on its competitor Red Bull.
According to US media reports, the company will now take the Coca-Cola energy drink from the US market by the end of the year.
And the drink will no longer be available in Canada in the future either.
"Our strategy includes the consistent and constant evaluation of our products," a spokesman for Coca-Cola told
CNN Business
.
With the end of the energy drink, the company could “concentrate on more profitable offers”.
Is Coca-Cola Energy also disappearing from the German market?
It is unclear whether the “Coca-Cola Energy” brand will also disappear from the German market.
At the request of
chip.de
, the German press office stated: “We regularly review and evaluate our entire portfolio and monitor the development of our products on the market.
This also applies to Coca-Cola Energy in Germany ”.
It continued: "We continue to offer and support Coca-Cola Energy, including activation as part of the UEFA EURO 2020 campaign this summer."
Coca-Cola energy drink: negative business for the US group
In addition to its competitor Red Bull, Monster is the second strongest energy drink brand in Germany with a market share of around 14 percent. Although Coca-Cola has a distribution partnership with Monster and even has a minority stake in the beverage maker, Coca-Cola officially launched its energy drink in May 2019.
After major investments by the company, German customers can buy the energy drink in many supermarkets across Germany.
The products have since been available from Rewe, Hit, Edeka, Globus, Real and Kaufland.
Yet the investments don't seem to have paid off.
In the 12 months to the end of February 2021, Coca-Cola Energy lost eight percent in value.
At the same time, however, the industry grew by over 15 percent to just under 1.6 billion euros, according to the
food newspaper
.
This seems to have moved Coca-Cola to pull the rip cord.
In Germany, Coca-Cola now wants to bring a new drink onto the market.
(jsch)
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