Cans of Cola Tab-branded soft drinks manufactured by the Coca-Cola Company are on display in a supermarket in the Brooklyn neighborhood of New York on July 26, 2011.
Ramin Talaie | Corbis historical | Getty Images
Coca-Cola said Friday that Tab, its first diet soda, is among the beverages to be retired as it shrinks its beverage portfolio.
The coronavirus pandemic has accelerated the beverage giant's transition to focus on its bigger and more popular brands like the eponymous soda. Coke recently announced a restructuring plan to help it become more efficient and scale new products faster. The global pandemic caused Coke's profits to decline 33% in the second quarter. However, CEO James Quincey, who has headed the company since 2017, said he was trying to get out of the crisis stronger than before.
Other drinks that will no longer be produced by the end of the year are Odwalla products, Zico coconut water, Coca-Cola Life sweetened with stevia and Diet Coke Feisty Cherry. Regional drinks like Northern Neck Ginger Ale and Delaware Punch are also slated to go away.
"It's about continuing to follow the consumer, making very conscious choices about which of our brands deserve our investments and resources the most, and taking the difficult but important steps to identify those products that are becoming less relevant and therefore out should leave the portfolio. " "Cath Coetzer, Coke's global director of innovation and marketing, said in a statement.
Coke first introduced Tab to consumers in 1963 and targeted women with the calorie-free drink. In the 1970s and 1980s, when Americans tried diets, the diet soda grew in popularity, but faded with the introduction of Diet Coke in 1982. The company stated that Tab had been a "small but loyal one for the past few decades." "Has entertained number of fans.
More than half a century after Tabs launched, Coke is relying on Diet Coke and Coke Zero Sugar to satisfy consumer cravings for sugar-free, low-calorie soda.
Coke is expected to announce its third quarter results on Thursday. The company's shares, valued at $ 216 billion, are down 9% so far this year.