Arizona Iced Tea founder explains why he's bucked the inflation trend and never raised its iconic 99-cent price in 32 years

• The iconic 23-ounce cans of Arizona Iced Tea still sell for 99 cents after 32 years.
• Arizona founder Don Vultaggio told Today he doesn't want to raise prices on consumers.
• The strategy is unique as grocery prices rise and some brands use shrinkflation to profit more.

Don Vultaggio, the cofounder and CEO of the company behind Arizona Iced Tea, still sells his product for the same price as when it launched 32 years ago — 99 cents.

Vultaggio decided to get into tea and founded the Arizona beverage company in New York in 1992 after seeing the success of Snapple. Arizona's signature big cans of iced tea were a quick success, and Vultaggio still runs the company to this day with the help of his sons.