PepsiCo is focused "100%" on its strategy in energy drinks, CEO Ramon Laguarta said on the company's earnings call Thursday in response to a question about whether it wouldLaguarta indicated that hard seltzer is one of "a lot of opportunities in front of us," and that energy drinks offer more long-term potential while hard seltzer could be a shorter-lived trend.
Instead, PepsiCo is devoting its "100% focus" to its plan for energy drinks, he said in response when an analyst asked him whether PepsiCo would also break into hard seltzer. "Those four big pillars, that's taking a lot of our focus, and that's going to be our priority, especially in 2021," he said. Sales of energy drinks at PepsiCo grew at a "double-digit" rate during the third quarter, the company said Thursday. And while Molson and Coke have yet to launch Topo Chico hard seltzer,Laguarta likened hard seltzer to short-term beverage trends. "A couple of years ago, it was CBD, now it's more alcohol," Laguarta said. "So we get a lot of opportunities in front of us.
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