New "1850" platform to help company capitalize on the fastest-growing market segments
Orrville, OH, (Feb. 21, 2018) – Today at the Consumer Analyst Group of New York (CAGNY) conference in Boca Raton, Fla., The J.M. Smucker Co unveiled one of its most significant coffee growth initiative to date: a new line of premium coffees that will strengthen its position in the fastest growing market segments and serve as a broad platform for future growth and innovation.
The new line, 1850, draws on the rich heritage of The Folger Coffee Company – founded during the 1850's Gold Rush in California – and features a bold but smooth taste that will appeal not only to traditional Folgers drinkers but to a younger generation of consumers that generally prefers richer coffee blends.
"1850 allows us to build on our market-leading position in the at-home coffee category by strengthening our hand in premium, one-cup and ready to drink iced coffees, the fastest-growing product segments," said Mark Smucker, President and Chief Executive Officer of The J. M. Smucker Company. "But what's truly exciting is that 1850 represents an entirely new product platform for our coffee business. It will enhance the master Folgers brand and serve as a pipeline for new and innovative products far into the future.
"1850 also validates our new approach to innovation – which includes an intense focus on consumer insights, careful product development and renewed attention to design and creative execution. This is central to our strategy of driving long-term growth while delivering an outstanding experience for consumers."
Inspired by the heritage of the Folgers Coffee Company, 1850 is an evenly roasted coffee made from a special blend of 100% Arabica coffee beans fire-roasted and steel cut for a delicious bold but smooth taste.
"We started with the idea of ‘bold,'" said Mr. Smucker. "We wanted a bold coffee to address younger consumers' preference for stronger coffee, but we also wanted a smooth coffee that isn't bitter. We think we've hit the mark with 1850. In blind taste tests, consumers rated 1850 better than other coffees, particularly in terms of its flavor. And 1850 clearly over-indexes in its appeal to millennials."
Scheduled to hit store shelves in early April, 1850 will be available in four blends:
Lantern GlowTM Light Roast
Pioneer Blend Medium Roast
Trailblazer Medium-Dark Roast
Black Gold Dark Roast
The name, 1850, and its craft brand imagery was inspired by the original Folgers Coffee Company. Special attention was paid to the design of the packaging – which includes a waxed seal on the prepack bags – to strengthen its "stopping power" in retail aisles.
"Today's consumer, particularly millennials, gravitate to brands that have an authentic story to tell," said Joe Stanziano, Senior Vice President and General Manager, Coffee. "What could be more authentic than the story of the Folgers Coffee Co. which traces its roots to San Francisco during the Gold Rush. Our research shows that this heritage resonates very strongly with both our core consumer and millennials."
Initially available in roast and ground and whole-bean prepack bags and K-cup packs, the portfolio will expand with a ready-to-drink offering this summer, representing a significant entry into this fast-growing coffee format.
"We couldn't be more excited about 1850," said Mr. Smucker. "It will drive growth in rapidly expanding market segments, strengthen our position with younger coffee drinkers and provide a platform for future innovation. Most important, it will create an outstanding premium coffee experience for our consumers."
To view The J.M. Smucker Company presentation at CAGNY, go to jmsmucker.com/investor-relations..
About The J.M. Smucker Company
For 120 years, The J.M. Smucker Company has been committed to offering consumers quality products that bring families together to share memorable meals and moments. Today, Smucker is a leading marketer and manufacturer of consumer food and beverage products and pet food and pet snacks in North America. In consumer foods and beverages, its brands include Smucker's®, Folgers®, Jif®, Dunkin' Donuts®, Crisco®, Pillsbury®, R.W. Knudsen Family®, Hungry Jack®, Café Bustelo®, Martha White®, truRoots®, Sahale Snacks®, Robin Hood®, and Bick's®. In pet food and pet snacks, its brands include Meow Mix®, Milk-Bone®, Kibbles 'n Bits®, Natural Balance®, and 9Lives®. The Company remains rooted in the Basic Beliefs of Quality, People, Ethics, Growth, and Independence established by its founder and namesake more than a century ago. For more information about the Company, visit jmsmucker.com.
The J.M. Smucker Company is the owner of all trademarks referenced herein, except for the following, which are used under license: Pillsbury® is a trademark of The Pillsbury Company, LLC, and Dunkin' Donuts® is a registered trademark of DD IP Holder LLC.
Dunkin' Donuts® brand is licensed to The J.M. Smucker Company for packaged coffee products sold in retail channels such as grocery stores, mass merchandisers, club stores, and drug stores. This information does not pertain to Dunkin' Donuts® coffee or other products for sale in Dunkin' Donuts® restaurants.
The J. M. Smucker Company