The world’s leading brewer Diageo Plc.’s (DEO) signature brand Smirnoff is all set to tingle the taste buds of its vodka lovers with the launch of its new flavored malt beverage offering, Smirnoff Ice Black.
Smirnoff Ice Black, with its bold and refreshing taste comes in three flavors of Lemon Lime, Fruit Punch and Watermelon. They will be distributed in sleek, black can with higher Alcohol By Volume (ABV) compared to other products from the brand.
They will be offered in 16oz and 23.5oz cans for a suggested retail price of $1.69 and $2.69, respectively.
However, the 16 oz cans will only be available in Iowa, Kentucky, South Carolina, Florida, Georgia, North Carolina, Virginia, Oregon, New Mexico and Alabama.
Smirnoff sells two different products by the name of Smirnoff Ice. The one available in France and the US is a citrus-flavored malt beverage, which does not actually contain vodka. Its taste is more akin to beer than to vodka.
The other, sold in Europe (excluding France), Latin America, Australia and Canada, is a premixed vodka drink.
The newest version of the Smirnoff malt-flavored beverage joins the Smirnoff Ice and Smirnoff Premium Malt Mixed Drinks, which are already popular among the connoisseurs of sprit lovers.
Management claims that Smirnoff Ice Black is different from the previous traditional versions of malt-flavored beverages in its boldness that caters to the tastes of adult drinkers.
The company notably wants to use this new product to capture beer’s market share in US.
In another separate story, Diageo brands topped the 2012 Ultimate Spirits Challenge held in New York City in April, 2012. The Ultimate Spirits Challenge identifies, recognizes and rewards products that show superior quality. In total, Diageo brands claimed 44 awards.
Diageo, which faces stiff competition from Molson Coors Brewing Company (TAP), holds a Zacks #3 Rank, which translates into a short-term Hold rating. Currently we have a Neutral recommendation on the stock.
DIAGEO PLC-ADR (DEO): Free Stock Analysis Report
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