Coca-Cola is set to enter the dairy market with a premium milk brand called Fairlife which will retail at twice the price of standard milk.
Sandy Douglas, global chief customer officer and president of Coca-Cola North America, told Morgan Stanley’s Global Consumer Conference last week that the firm was to roll out a premium milk product in the US called ‘Fairlife’, according to a transcript from Seeking Alpha.
He said that the product will have 50 per cent more protein and 30 per cent less sugar and no lactose upon its launch in December. For these health benefits however, he said: “We’ll charge twice as much for it as the milk we’re used to buying in a jug.
“The test markets have been amazing, and we’ve created a joint venture with a bunch of dairy farmers who are innovative leaders in the dairy industry. So you… have a nutrition beverage company with tremendous growth potential.”
He concluded: “We’re going to be investing in the milk business for a while to build the brand so it won’t rain money in the early couple of years. But when you do it well it rains money later. And we can deliver with our business portfolio before the milk comes on full profit line.”
The milk will be sourced from sustainable dairy farms and will see “high care processes for the animals”.
In further brand diversification news, in September, Coca-Cola announced a multi-million pound marketing drive to acquaint UK consumers with its new low calorie drink Coca-Cola Life.
