"I don’t want to do what the bread guys and the gas guys and everybody else are doing," Don Vultaggio, the 70-year-old, 6-foot-8 founder and chairman of AriZona said. "Consumers don’t need another price increase from a guy like me."
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Inflation is everywhere you look these days -- except on a can of
@DrinkAriZona
Iced Tea, which still advertises "Great Buy! 99¢" as it has ever since 1992. How is this possible?
@SamAugustDean
investigates the greatest mystery in business.
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Amazing true fact: "If you could run your car on cans of AriZona Green Tea with Ginseng and Honey" -- and let me say here it's a goddamn crime you can't -- "it would be cheaper than L.A. gas by nearly 40 cents a gallon."
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If there's one reason AriZona hasn't raised its price in 30 years (!), it's because the company is entirely controlled by Long Island's Vultaggio family. With a combined net worth of over $4 billion, per
@Forbes
, they can afford to take the hit.
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AriZona keeps things lean, with a minimal marketing budget and just 1,500 employees. Don Vultaggio runs the company with his large adult sons, Wesley and Spencer. This is them.
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Economists say prices ending in a 9 tend to be more rigid in the face of inflation. Don Vultaggio has his own explanation for why it's so sticky: "It’s been like that since cavemen, the 99-cent price point was exciting then, and it’s exciting today."
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@jeffbercovici
It took to this tweet to realize the capital Z wasn't just a typo, but you going the extra step to spell the brand as it is written ... why the hell is the Z capitalized?
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