Constellation Brands will debut Corona Premier in the U.S. in February 2018. The brand hopes to capitulate on the recent surge of interest in Mexican beer. The company has also decided to simultaneously release the beer in all major Hispanic markets.
The decision comes on the heels of a “successful” test that Constellation conducted with the Premier beer. The company stated that the brew is aimed at the mature and sophisticated consumer, someone looking to trade up from light beer.
Corona Premier may just be the company’s lightest beer yet. Constellation’s Extra beer contains 149 calories and their Light contains 99. Corona Premier however contains just 90 calories.
In a statement made over email, a spokesperson stated, “Corona Premier capitalizes on industry and consumer trends including declines of domestic light beers, growth of high end and interest in new light beers that are premium and have badge value.”
Corona and Modelo’s popularity has helped Constellation’s sales reach new heights. The company managed to exceed Wall Street’s profit expectations for the ninth quarter in a row.
It also managed to boost its yearly earnings forecast to between $8.25 and $8.40 per share. This is a fair rise from its earlier share price of $7.90 and $8.10.
Constellation’s stock has increased by about 36 percent this year. It managed to gain 4 percent on Thursday, October 5.
Constellation’s growth comes as a surprise since plenty of big brewers are struggling with sales. On a call with investors, CEO Rob Sands credited Constellation for driving growth in U.S. beer imports.
The upcoming holidays present a fairly large opportunity for the alcohol industry. Constellation’s current portfolio includes wine and spirits brands such as Black Box, Woodbridge by Robert Mondavi and SVEDKA.