Coca-Cola's foray into coffee is losing its buzz. Now, the drink giant is rethinking its approach, its CEO said. Seven years ago, Coke paid about $5.1 billion for Costa Coffee, a UK-based chain of coffee shops. While Coca-Cola didn't have a lot of experience operating cafés, the deal gave the company a foothold in the coffee industry, which it viewed as a key growth area. Coca-Cola CEO James Quincey said on the company's earnings call on Tuesday that "the investment hypothesis didn't work out as we expected." He said the company hoped to see "much more growth" outside the retail stores that make up its core business. Read more about how they’re rethinking their business strategy at the link in our bio. Story by Alex Bitter (Credit: Getty Images) #cocacola #costacoffee #coffee