Since launching in 1992, the CEO behind AriZona Iced Tea says he refuses to lift the model’s notorious 99-cent worth! Don Vultaggio, chairman and co-founder of AriZona Iced Tea, says for the “foreseeable future” he’s dedicated to protecting the 99-cent price ticket on the notorious 23 fl ozdrinks.
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Vultaggio co-founded AriZona Drinks USA 30 years in the past, on Could 5, 1992, and launched the notorious AriZona Iced Tea 23 fl. oz. aluminum can for 99 cents. On the time, a gallon of entire milk was about $1.13, and a gallon of gasoline was about the identical, in accordance with ‘TODAY.’
Whereas sitting down for an interview with TODAY’s Savannah Sellers, Vultaggio stated that regardless of residing by way of a long time and surviving surging inflation charges, AriZona Iced Tea hasn’t ever elevated its notorious 99-cent worth. As an alternative of elevating costs for shoppers, the corporate has opted to chop out further bills that might might drive worth hikes.
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Vultaggio stated, “Individuals say, ‘How do you try this?’ We make it quicker. We ship it higher. We ship it nearer. The cans are thinner. We’re profitable. We’re debt-free. We personal all the things. Why? Why have people who find themselves having a tough time paying their hire should pay extra for our drink? Perhaps it’s my little option to give again.”
When requested if he ever plans on elevating the costs of his notorious 99-cent AriZona Iced Tea drinks, Vultaggio, whom TODAY estimates to be price $3 billion, confirmed, “Not within the foreseeable future. We’re gonna combat as laborious as we will for shoppers.”
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The AriZona Iced Tea CEO additionally spoke with TODAY again in 2022, the place he defined that regardless of witnessing inflation charges hit a 40-year excessive, he was nonetheless capable of preserve his costs intact. On the time, Vultaggio stated, “To me, the worst day as a salesman is to go to a retailer and say, ‘Hey, by the best way, I’m elevating the worth on that may in the present day. What you need to do is have a buyer are available in and get a good worth on a can of tea or juice after which purchase different issues in your retailer to offset these prices.”
The AriZona Iced Tea CEO is aware of that worth hikes have unfavorable trickle-down results, which he’s made a degree to keep away from. Vultaggio added, “At some point, I used to be on the George Washington Bridge, and it was backed up. It was like two o’clock within the afternoon. And I stated, ‘We’ve obtained to get our vehicles off the roads through the day. We’ve obtained to return in at night time.’ It was a easy resolution … We’ve now shipped all of our merchandise in a single day in order that our vehicles will likely be extra environment friendly.”
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