The New Coke Failure
The Coca-Cola Company competed with Pepsi since forever. In an attempt to grow in popularity, Coca-Cola launched in 1985 New Coke. This new soda was sweeter, but fans hated it and wanted the original one back. That left the company with a total of $30 million worth New Coke, on top of the $4 million they lost while developing the new flavor.
Fun Fact: If you’re watching ‘Stranger Things’, New Coke is featured in the TV series, and Coca-Cola brings back the New Coke as a limited edition. Coke’s Stuart Kronauge said in an interview with CNN Business they’re doing it as a way to “not take ourselves too seriously.”