Caribou Coffee this week is entering the ready-to-drink (RTD) coffee market.
On Thursday, the Minneapolis-based coffee maker will begin offering canned cold brew black coffee at all company-owned locations across the country. Caribou will charge $3.49 for 11.5-ounce cans. (That compares to about $3 for Starbucks’ 11-ounce cans.)
In fall, Caribou will release two other flavors of cold brew: original crafted and vanilla crafted.
Historically, Starbucks has dominated the RTD coffee space. A year ago, the Seattle coffee company said it had an 88 percent market share in the RTD coffee category. Starbucks even claims to have created the category more than 20 years ago, when the company joined forces with PepsiCo to launch bottled Frappuccinos.
Even so, Caribou execs hope the company’s new products will become “the best in the RTD coffee market,” according to a news release.
“The Caribou brand is the perfect combination of playful and premium – we take our coffee seriously in the North, but not ourselves,” said Jenifer Hagness, Caribou’s vice president of global marketing.
Caribou is the latest coffee company to enter the increasingly crowded RTD space. Dunkin Donuts in 2018 launched its first line of coffee drinks in a can. And last month, Coca-Cola released a line of RTD drinks in the U.K.