PepsiCo has launched The Hive, a program that will nurture up-and-coming brands that exist within the company's portfolio. The aim of the Hive to is the develop new and creative ideas to meet growing consumer needs and deliver sustainable long-term growth.
The Hive will feature a new team who will source new talent both within PepsiCo and externally to build sustainable value proposals for these new brands and drive scale operations and distribution over time. Brands that have thus far been included in the new program are PepsiCo’s Looza fruit nectar beverage, Stubborn Soda and Maker Oats.
The program will aim to stay ahead of consumers by launching “rapid new product development, iterative prototyping and marketplace deployment”, and will look to accelerate brands that have been acquired through PepsiCo Ventures Group.
Seth Kaufman, President of PepsiCo North America nutrition, who was tasked with overseeing the Hive said that he was excited to launch the new group as a way of meeting rapidly adapting consumer needs.
“We continue to learn a great deal every single day from our innovation and experimentation experiences, from unique external partnerships we’ve crafted and from observing entrepreneurial food and beverage companies both large and small. Rapidly adapting to changing consumer needs in a sustainable way includes fundamentally new operating models, and I could not be more excited to launch this important new group for PepsiCo.”
“This is how we’ll deliver on consumers’ changing preferences and the fast-moving landscape like never before,” added Kaufman.