Coca Cola Co. is discontinuing its Zico coconut water brand and considering getting rid of some less-popular versions of Coke and Diet Coke, according to the Wall Street Journal (WSJ).
WSJ quotes a Coke spokeswoman as saying the decision to discontinue Zico by the end of the year “comes at a time when we are hyper focused on delivering on our consumers’ wants and needs.”
When Coke bought Zico in 2013, it was the #2 coconut water brand. WSJ reports that it never caught up to Vita Coco, and coconut water sales have fallen in recent years—the market climbed during the pandemic by 4.4%, but WSJ notes that Coke deprioritized Zico in favor of Smartwater and Powerade, and Zico sales plummeted 46% this year. Zico’s market share has dropped from 20% of retail store sales to 4% this year.
Other products being reviewed include Diet Coke Feisty Cherry, the stevia-sweetened Coke Life, and regional American brands like Northern Neck Ginger Ale and Delaware Punch, WSJ reports. Coca Cola has 500 fully or partially owned brands around the world and is aiming to cut that number by more than half.