KANSAS CITY — Early in the year, PepsiCo, Inc. laid out its plans for evolving its portfolio to meet the changing needs of consumers. That strategy includes growing its largest brands and delivering big ideas via consumer-centric innovation, Hugh F. Johnston, executive vice president and chief financial officer, told participants during a Feb. 17 presentation as part of the Consumer Analyst Group of New York virtual conference.
“We accomplish this by revitalizing our large well-known brands on an ongoing basis like trademark Lay's, Doritos, Mountain Dew and Pepsi through flavor extensions, diverse package mix offerings and strong brand activation campaigns, which continuously refresh these trademarks to meet the changing consumer preferences,” Mr. Johnston said.
A little more than five months into the year, PepsiCo already has made great strides in its innovation strategy, having rolled out more than 20 new products ranging from flavor extensions to entirely new brands.
PepsiCo has grown its largest brands with innovation like Doritos Xxtra Flamin’ Hot Nacho tortilla chips, Pepsi Mango, Cheetos Crunch Pop Mix and Mtn Dew Rise Energy.
New brands delivering consumer-centric innovation include Soulboost, Hilo Life, Neon Zebra and Frutly.
