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Global brewer Molson Coors Brewing Company (TAP - Analyst Report) has announced a new range of products and packaging innovations in order to enhance its premium brands of Coors Light, Miller Lite, Molson Canadian and Carling. Molson Coors has broadened its portfolio with the introduction of new summer brews and introduced new style of packaging to meet the consumer demands.
Coors Light Iced Tis an extension of the company’s brand Coors Light, which is Canada’s favorite light beer. Coors Light Iced T is available in Canada, and has a light and refreshing blend of natural tea and lemon flavors with a sweet tinge of Coors Light. Another summer drink Carling Zest was introduced to tap the customers in U.K. and Ireland, which provides a light citrus flavor and contains 2.8% beer. For the U.S. consumers, Blue Moon Brewing Company, an arm of Molson Coors, will introduce a new beer-based brew, Caramel Apple Spiced Ale that will deliver a crisp and refreshing taste by then end of August.
Molson Coors’ subsidiary MillerCoors introduced aluminum pints bottles for its brands like Coors Light, Coors Banquet, Miller Genuine Draft and Molson Canadian, which keeps beers ice-cold and can be resealed after opening. Other innovations include Miller Lite, MGD Punch Top Cans and Grip Cans, which increases airflow, allows smoother pour, and eases holding.
Though the company has been facing some challenging market conditions, Molson Coors’ continued to focus on its growth strategies of maximizing profitable growth opportunities in the core markets, expanding into new and emerging markets. Molson Coors has been strongly focusing on innovation for years and has delivered more than $100 million of incremental gross profit for the company over the last three years. However, the seasonal nature of business and increased competition from Anheuser-Busch InBev (BUD - Snapshot Report) are still concerns for Molson Coors.
Currently, Molson Coors has a Zacks #3 Rank (short-term ‘Hold’ rating). On a long-term basis, we maintain a Neutral recommendation on the stock.
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