Corona 'Can Do' With New 24-Ounce Cans
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Demand for single-serve business drives Corona Extra and Corona Light brand offerings CHICAGO, Oct. 15 /PRNewswire-FirstCall/ -- Crown Imports today announced the launch of new Corona Extra and Corona Light 24-ounce can packages aimed at the $3.2 billion single-serve segment of the beer business. "This occasion based business already represents nearly 13 percent of dollar share in the off-premise channel. Based on the growing demand from consumers and retailers for single-serve options, we see a great opportunity for Corona in this space," said Jim Sabia, Executive Vice President of Marketing for Crown Imports, Corona's exclusive U.S. importer. According to IRI data, over the past four years import brands in the 24-ounce single-serve segment have averaged 13.3 percent case sales growth versus 4.7 percent for domestics, accelerating faster than the category case trend by nearly seven fold. The Corona Extra 24-oz can will arrive at retail in 26 initial markets* this month with the Corona Light can to follow shortly thereafter. The Corona Extra and Corona Light 24-ounce cans are targeted to 21-44 year-old General Market and Hispanic drinkers from the service and manufacturing trades. "Our consumer research indicates these consumers see Corona as a reward. Our 24-ounce cans offer a new trade-up option for drinkers looking for a premium beer experience," Sabia said. The previously introduced Corona Extra 24-ounce single-serve bottle is currently a top ten package amongst all 24-ounce packages according to IRI. Primary channels of distribution for the new Corona Extra and Corona Light 24-ounce cans are convenience, drug, liquor and grocery stores. "Convenience stores especially may benefit from the incremental purchase occasions and additional traffic the Corona Extra and Corona Light 24-ounce cans would deliver," reports Bruce Jacobson, Executive Vice President of Sales for Crown Imports. IRI reports indicate that single-serve 24-ounce packages represents close to 11 percent of the case volume sold in the convenience store channel, making it a key package in a channel designed around convenience and immediate consumption. Crown continues to invest in new packages and options suitable for the off-premise channel and at-home consumption opportunities. According to the Beer Institute, the off-premise channel currently delivers 82 percent of beer industry volume and may lead category resurgence in the year ahead. *Editor's note: 26 initial markets include AZ, CA, CO, CT, D.C., FL, GA, IL, IN, LA, MA, MD, MI, MO, NC, NJ, NM, NV, NY, OH, OR, SC, TN, TX, VA, WA. Source: IRI InfoScan, Total US Fs/Dg/Cv, 52 weeks ending 9/2/09 About Crown Imports Crown Imports LLC is a joint venture that imports, distributes and markets the Modelo portfolio and other fine beer brands across the entire U.S. The Modelo portfolio includes Corona Extra, the #1 imported beer in the U.S. and #6 beer overall, Corona Light, Modelo Especial, Negra Modelo and Pacifico beer brands. For more information, visit www.crownimportsllc.com. Crown Imports is a 50-50 joint venture between Grupo Modelo, S.A. de C.V. (MX: GMODELOC), Mexico's leading company in the brewing, distribution and sale of beer, and Constellation Brands, Inc. (NYSE: STZ, ASX: CBR), a leading international beverage alcohol producer, importer and marketer. SOURCE Crown Imports LLC Bill Ligas, Crown Imports LLC, +1-312-873-9279, email@example.com
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