Arizona Iced Tea Founder Explains Why The 99-Cent Price Has Not Increased In 30 Years
April 20, 2022
As gas prices soar, along with everything else, a large 23-ounce can of Arizona iced tea still costs 99 cents — the same price it has been since it hit the market 30 years ago.
Credit: Arizona Iced Tea / Facebook
The reason is simple.
Arizona Beverages' chairman and co-founder Don Vultaggio says he doesn't want to raise prices like everyone else.
"Everything (people are) buying today there's a price increase on. We're trying to hold the ground and hold for a consumer who is pinched on all fronts," Vultaggio told Today. "I've been in business a long time and candidly I've never seen anything like what's going on now. Every single thing has gone up, and I call it 'from a paper clip to a too-big filling machine.'"
And by keeping the price at 99 cents, he's making a lot less money. The cost of aluminum for the can has doubled in recent years, and distribution costs have increased with rising gas prices.
"I'm committed to that 99-cent price — when things go against you, you tighten your belt," Vultaggio told the Los Angeles Times. "I don't want to do what the bread guys and the gas guys and everybody else are doing. Consumers don't need another price increase from a guy like me."
Vultaggio, a Brooklyn native, founded Arizona Beverages 30 years ago.
Today, he co-owns the company in its entirety with his sons, Spencer and Wesley.
Don Vultaggio with his sons
You might like: Costco's hot dog has remained $1.50 since it was first introduced in 1984.
His Last Day As A Teacher After 36 Years. They Turned It Into A Memory For Life
Teacher’s Simple Strategy Is Changing The Lives Of So-Called ‘Troublemaker’ Students
Man Marks 11th Straight Christmas As The Last Unmarried Member Of His Family
'I Laughed And Cried': Vet’s Hilarious Condolence Card Brings Laughter To Grieving Cat Owner
Three Brothers Cleaning Out Mom’s Attic Found A Comic Worth $9 Million
Teen Runs His Own Restaurant ALONE — One Of The Most Uplifting Stories You'll Read
A Stray Dog Wouldn't Let Go Of A Toy, So Shoppers Bought It For Him
Daycare Worker Goes Viral After Dancing For Babies — Their Reactions Are Priceless
Watch The Moment This Dog Is Rescued From Dog Fighting
Nanny Gets Surprised With A New Car. Her Reaction Is Incredible
Jamaican Mom Sees Snow For The First Time — And She Is LIVING
