News briefs: Kraft coffee, Molson Coors and celebrity wines

By Neil Merrett

- Last updated on GMT

Related tags: Molson coors

This week, Kraft Foods increases the prices for its coffee brands,
Molson Coors plots global expansion and celebrity booze is all the

Kraft reconsiders coffee pricing ​Kraft Foods this week joined a growing number of high profile coffee processors in raising prices for some of its most lucrative brands, according to news reports. The company, which manufactures both the Maxwell house and Yuga brands, said Tuesday that it would implement a 20 cents rise on its 11- and 13-ounce packets, Reuters reported. The company said the higher price was a reflection of what it said was a significant increase in costs of green coffee beans, according to the report. Rival processors and retailers including Procter & Gamble and Dunkin' Donuts have also made similar announcements in the last few weeks. Molson Coors aims for global domination ​North America-based brewer Molson Coors says that it expects strong global growth from its key brands over the next few years. In yesterday announcing the appointment of Dave Perkins as the group's new president for global market developments, the company said it would look to expand the presence of its brands like through expansion, and strategic partnerships in new markets. "Molson Coors has achieved significant growth and generated substantial shareholder value in recent years through optimization of its core businesses,"​ the company stated. "With a strong brand portfolio and a solid financial foundation, we are poised to grow our business in global markets well beyond where we are today."Celebrity drinks go high profile ​US celebrity culture is expected to reach new heights, as the nations' consumers increasingly turn to tipples backed by their favorite stars, new research has found. Sales of celebrity wines, which are branded and often directly associated with sports and film stars, have increased by 19 per cent since last year, amounting to $41.8 million or 0.9 per cent of total wine sales, according to the Nielsen Company. The report added that celebrity spirits sales at retail level were also up by 19 per cent. The increasingly lucrative market has been driven by the entry of a number of high name endorsements from film director Francis Ford Coppola, professional golfer Greg Norman and perennial foodie Paul Newman. The Nielsen company's Richard Hurst said that celebrities have been increasingly lending their names to wine and spirits in the country on the hope that they can help reinforce a certain image for a manufacturer. "While some celebrities have had a long-standing personal affinity for these product categories, others view these products as extensions of their established 'lifestyle brands' and have connected with willing supplier partners to produce and market them,"​ he stated. "Some suppliers, particularly wine suppliers, do not have the resources to launch big advertising and promotional campaigns and a celebrity can lend a brand instant recognition."

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