Keurig begins sale of Kold cold-brewing machine
Last week, Keurig introduced its cold beverage maker Kold in a bid to prop up flagging sales. The machine offers fresh, at-home carbonation of a variety of pods filled with syrups from big soda brands, as well as a variety of in-house sodas, iced teas and sports drinks. Despite the market for cold beverages being about 5 times bigger than for hot beverages, the company itself admits that consumer uptake may be slow due to high price tags: $370 for the device and $1 for each 8-ounce drink. However, Keurig believes prices will come down as volumes increase, with a target of $299. And the company could really use a new revenue stream, as sales in the first quarter declined 5% to $969 million and its stock price is down by about 60% from last year's highs.