MONTREAL - Molson Coors Brewing Co. announced earlier this week that it will launch Coors Light Iced Tea and other new products, an effort to gain a larger share of the beer market, Reuters reports.
Molson officials said the new beer would be more attractive to people who otherwise drink wine or cocktails.
"Someone else is eating our lunch in the alcohol space," said Molson Coors Chief Executive Peter Swinburn.
Coors Light Iced Tea will launch first in Canada, where flavored beers resonate strongly among consumers, Molson executives said, adding that an expansion into the U.S. is possible.
The company is also rolling out Carling Zest, a limited-time-only beer infused with citrus flavors, and a fall-inspired Leinenkugels beer.
The company also announced plans to accelerate growth in developing markets, as well as focus on China, Russia, India and Ukraine. Currently, Molson€™s international division accounts for just 3% of the company€™s global sales.