Premium Innovation for Revenue and Profit Growth
Problem: The goal of Lidskoe’’s long-term vision is to premiumize the brand portfolio through successful and profitable innovations. The beer market is stagnating due to the economic recession and covid, while the premium segment at affordable prices is growing. However, the company itself does not have strong enough recognizable premium brands and is associated with popular, but not premium, products. Challenge: Find growth ideas and platforms in a declining market for profitable growth and increase market position.
Solution: Master-brand innovations in the beer category were the answer: 1) a premium variety in a unique vintage bottle “Ideal”, 2) an updated line of craft beer “Master’s Collection”, 3) the launch of a revolutionary new hard lemonade product.
Results: thanks to innovations and effective communications, according to research, the master brand “Lidskoe” has become the most preferred brand on the market, the image attributes of the brand “innovative”, “premium” and “fashionable” have grown significantly, new products have been able to attract completely new young consumers. Commercial results exceeded expectations in terms of revenue, profitability and premium share, which grew to an all-time high in the brand’s history.