Whether it’s the refreshing taste or the $.99 price, fans can’t get enough of the multibillion-dollar AriZona beverage brand. NBC’s Savannah Sellers meets with founder Don Vultaggio to learn about the family business.
When it comes to his business, raising prices on a popular product isn’t exactly Arizona Beverages’ chairman and co-founder Don Vultaggio’s cup of tea. For him, his 99-cent teas are best served with the assurance that its cost will remain the same. Vultaggio co-founded Arizona Beverages USA 30 years ago — on May 5, 1992. At the time, a gallon of whole milk was $1.13, a gallon of gas was the exact same, and a 23-oucne can of Arizona iced tea was 99 cents.
“What you want to do is have a customer come in and get a fair value on a can of tea or juice and then buy other things in your store to offset those costs,” he explained. Vultaggio said that, as a businessman, his job is to stay ahead of increasing costs. “One day, I was on the George Washington Bridge, and it was backed up. It was like two o’clock in the afternoon. And I said, ‘We’ve got to get our trucks off the roads during the day. We’ve got to come in at night,’” he explained.
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