Diageo: innovation will become 20% of our business in five years

Diageo has set out an ambitious goal of 20% of its business to come from product innovation in the next five years as it sets out its new products for the summer season.

Diageo: unveils new summer innovations
Diageo: unveils new summer innovations

Diageo announced a raft of new product innovations at an event in london today, across brands including Guinness, Smirnoff, Pimm’s, Captain Morgan, Gordon’s and CÎROC.

According to Andrew Cowan, UK managing director of Diageo, it plans to increase the proportion of its business that comes from innovations over the next five years.

"We recognise that innovation needs to be at the heart of our commercial strategy, and at Diageo we want to grow our business by getting people to drink better, rather than more. Today nearly 13% of our business comes directly from innovation. My goal is that in the next five years innovation will account for twenty percent of our business," he said.

New products announced included Guinness Golden Ale, which adds a golden hue to the stout. It also announced Pimms Cider Cup, a new cider and Pimm’s blend which launches in time for the crucial summer season for both cider and Pimm’s sales.

Other launches include Captain Morgan, which has branched out into white rum, vodka brand Ciroc with the launch of a pineapple variant and multiple Diageo brands, such as Pimm’s and Gordon’s,  that are launching new frozen drinks.

More to follow...

 


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