Brewer MillerCoors, a unit of Molson Coors Brewing Co., said Aug. 6 that it would end production of its light beer brand Two Hats by early 2019, about a year after it was launched.
Two Hats, which debuted in February, contains only 4.2% of alcohol by volume and is targeted at 21- to 24-year-old drinkers.
Chicago-based MillerCoors said its decision to shut down the brand comes as its parent company reported volume and profit declines in the second quarter.
The unit plans to focus spending on Coors Light and Miller Lite and to invest more in other brands such as Arnold Palmer Spiked and Sol to propel growth, according to a statement.
"We simply cannot get to profitable growth without significant improvement in Coors Light," Kevin Doyle, MillerCoors' president for sales, said in a note to employees and distributors.
On Aug. 3, MillerCoors CEO Gavin Hattersley said the company would search for a new chief marketing officer to bring a "fresh perspective" to its marketing and portfolio.