CAMDEN, NJ. — Having expanded the consumer audience for its Goldfish crackers and Chunky soups over the past four years, executives of the Campbell Soup Co. are looking for ways to grow the V8 brand.
V8 +Energy, an energy drink made from fruit, vegetables and caffeine from tea, will take on a starring role.
“I think you’re going to see even in this year, continued expansion of that platform, both from a distribution and geographic footprint,” Mark A. Clouse, president and chief executive officer of Campbell Soup, said Sept. 18 in the virtual TD Cowen Sipping & Snacking Summit.
V8 Splash, originally launched as a children’s juice, is another focus.
“We need to once and for all kind of figure out what that strategy is going to look like and where that goes going forward,” Mr. Clouse said. “As far as the long-term view of its relevancy in the category, I think for now, it’s certainly not creating a distraction or a problem for us.”
Goldfish used to be mostly a children’s brand, but innovative varieties such as Goldfish Frank’s RedHot and Old Bay Seasoned Goldfish have broadened the brand’s appeal to older consumers. Campbell Soup has a goal for Goldfish to achieve $1 billion in annual sales.
Chunky soup used to be promoted in ways like 10 cans for $10 total.
“It was low price viewed as cheap food, and we completely reframed it with a younger audience to be protein-driven, affordable, quick and great tasting,” Mr. Clouse said.