Kraft’s Smash Product Mio Attracts Rival in Coke’s Dasani
In Italian and Spanish, Mio means "mine." For Kraft Foods Group, it has translated into moolah.
The beverage brand — launched last year as the first nationally marketed "liquid water enhancer" — has rocketed out of the gate. Sales are on pace to at least double this year to more than $200 million. And now it’s spawning imitations from heavyweights such as Coca-Cola.
"We invented this category and you doubted it, and in only its second year Mio continues to surge," Kraft CEO Tony Vernon recently boasted to analysts, calling it "one of our most successful new products ever." Advertising Age – Read more…
The beverage brand — launched last year as the first nationally marketed "liquid water enhancer" — has rocketed out of the gate. Sales are on pace to at least double this year to more than $200 million. And now it’s spawning imitations from heavyweights such as Coca-Cola.
"We invented this category and you doubted it, and in only its second year Mio continues to surge," Kraft CEO Tony Vernon recently boasted to analysts, calling it "one of our most successful new products ever." Advertising Age – Read more…
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