5 months ago
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Global beer company Heineken is expanding its Rum Stripe cocktail into different markets in response to the shifting preferences of younger drinkers.
Rum Stripe recently expanded to the United Kingdom, adding to its presence in Jamaica and the United States, where it gained traction. Its name mimics the popular Red Stripe beer that is made in Jamaica but owned by Heineken for a decade.
“This strategy reflects shifting consumer preferences and evolving drinking behaviours, largely driven by Generation Z. Red Stripe, for example, tapped into their heritage to stretch beyond beer with the expansion of Rum Stripe beyond the US and Jamaica to the UK,” Heineken said in its 2024 annual report.
In 2024, Heineken continued to expand its portfolio of brands beyond beer, “particularly in markets where beer faces challenges” or shows growth potential. The beer maker’s annual group sales were down 1.2 per cent to €35.96 billion at December while profit dipped 54 per cent to €1.1 billion from €2.4 billion. It is due to increased expenses and challenges across certain markets, inclusive of shifting drinking preferences.
Rum Stripe blends beer and rum to offer flavours with 7.5 per cent alcohol content, compared to the 4.5 per cent alcoholic content usually associated with beer. It comes in three flavours: Rum Punch, Cherry Cranberry, and Pineapple Coconut.
“Red Stripe, for example, tapped into their heritage to stretch beyond beer with the expansion of Rum Stripe beyond the US and Jamaica to the UK,” Heineken said.
Red Stripe, which operates through local company Desnoes & Geddes Limited, recently collaborated with retired sprinter Usain Bolt, seen as an attempt to connect to a wider audience.
Heineken did not disaggregate financial or volume information for the local market or offer projections in the annual report.
English (US) ·