The Mexicola generation?
Laura Martinez Ruiz-VelascoA SMALL BUT ENTHUSIASTIC GROUP OF entrepreneurs in southern California wants to launch a carbonated soft drink to quench the thirst of the largest Hispanic group in the United States--Mexicans. It's called Mexicola, a cola drink describe as being "a little sweeter than Coca-Cola."
Led by Ramon Siqueiros III, a descendant of the famous Mexican muralist David Alfaro Siqueiros, the group wants a piece of the lucrative US$52 billion U.S. soft drink market. Siqueiros projects that Mexicola could generate $15 million in revenues within 18 months, but he adds, "We are not trying to compete with Pepsi or Coke; they are way too big for us."
The Mexican cola has been around for years dating back to when a Fresno, California family registered the formula and the name Mexicola. The family sold the soft drink in a black can featuring the eagle from the Mexican flag. A too-competitive market and bottling problems, however, forced it to sell the business to another family, who, operating under the name 3T Capital, sold an average of 100,000 cases (24 cans per case) between 1983 and 1986 to convenience stores and supermarkets in states with large numbers of Hispanics. A cash crunch compelled it to sell the brand.
"The third time is a charm:,"says a confident Siqueiros, who bought the name from 3T Capital. The firm plans to position its brand name within the Hispanic community by donating part of its profits to build schools and fund college scholarships. It's also thinking of going public to raise as much as $55 million. Its first marketing step will be to target Mexican restaurants and stores in the United States, where it's pitching the soft drink as the "Mexican" alternative to Coca-Cola.
Says Victor Camino, head of Your Marketing Team, the company in charge of promoting Mexicola: "When I eat at a Peruvian restaurant, I drink Inka Kola, so why not Mexicola in a Mexican restaurant?"
What's next? Dominicola for Dominicans? And how about Canuckcola for Canadians?
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