Wait, What? MillerCoors pulls new Two Hats brand after just six months

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Two Hats, we barely knew ya. That's the name of the new light beer MillerCoors debuted in February in an attempt to lure young adult drinkers. But the brewer is pulling the brand just six months after it hit shelves, marking an incredibly early exit for a brand that was advertised as "good cheap beer."

MillerCoors on Monday told distributors that it would cease production and that Two Hats will be off shelves by early 2019, according to the brewer's corporate blog. Leaders suggested the move will free more money to invest the brewer's other new brands, including Arnold Palmer Spiked and Sol, a Mexican import it recently took over from Heineken.

MillerCoors is also trying to reverse negative trends on Coors Light, which is its largest brand. The Silver Bullet's slide was a contributing factor in the recent ouster of MillerCoors CMO David Kroll. MillerCoors CEO Gavin Hattersly last week stated that the "number one job" of the new CMO will be to fix Coors Light.

"Right now we simply cannot get to profitable growth without significant improvement in Coors Light and without gaining a bigger piece of [the] above premium [segment]," Bryan Ferschinger, the brewer's VP of national craft and innovation, and Kevin Doyle, president of sales and distributor operations, stated in a note to employees and distributors, according to the blog post.

Two Hats comes in lime and pineapple flavors and is priced at $5 for a six-pack. A digital-only campaign by Mekanism that debuted in February included the tagline, "Wait, What?" One video implored drinkers to "Stop Your Wine-ing"— a direct attempt to get consumers to shift from wine to beer. Wine and spirits brands have taken share from beer in recent years.

"We plan to aggressively pursue innovation that will build our business and transform our portfolio," Ferschinger stated in the memo, according to the corporate blog. "MillerCoors remains committed to quality and innovation, and we aren't afraid to try new things."

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