Molson Coors is expanding beyond beer

 

Molson Coors is expanding beyond beer with the launch of its first ready-to-drink line, Spirited, which is made with real spirits.  The move comes as the overall ready-to-drink (RTD) category continues to grow, with 53% growth in 2021.  Topo Chico, Molson Coors’ hard seltzer brand, is doubling its media budget in the hard seltzer category from May through August. The brand is focused on running paid social media campaigns to promote the launch of Spirited.  Spirited will be sold in 22 states and launched with three cocktail flavors.  The beer market is currently losing market share, and the expansion out of that niche by Molson Coors is an attempt to future-proof its business.