Coke TipToes into the Chocolate Drink Arena
The Coca-Cola Co. plans to launch a chocolate dairy drink called “Choglit” this summer, according to Beverage Digest. Coca-Cola thinks that chocolate drinks are an interesting niche opportunity, Jeffrey Dunn, President and Chief Operating Officer of Coca-Cola North America, said during a presentation at the Beverage Forum conference.
According to Reuters, Mr. Dunn says that while he does not see it as a huge category in the future, chocolate is “probably something” in which Coca-Cola needs to participate.
Coca-Cola’s new chocolate beverage will join a field that includes the chocolate drink market leader, Cadbury Schweppes’ Yoo-hoo brand.
Coke’s major rival, PepsiCo sells mocha flavored Frappuccino drinks as well as SoBe’s Love Bus Brew, a chocolate drink with milk and ginseng.
Moderator Comment: Is Coca-Cola’s expanding brand portfolio a requisite requirement for maintaining its position in the marketplace? Does the company risk losing its focus as it expands into a greater number of beverage categories? [George
Anderson – Moderator]