Coca-Cola and Cristiano Ronaldo
Coca-Cola suffered a loss of USD 4 Billion due to Cristiano Ronaldo. Cristiano Ronaldo, a Portuguese star was seated at the Euro 2020 press conference. At the conference table, 2 Coca-Cola bottles were kept in front of him. But Cristiano Ronaldo did not seem to be a fan of carbonated drinks.
Cristiano Ronaldo moved the 2 Coca-Cola bottles kept in front of him and further on raised the water bottle, encouraging people to drink water instead. This action of Cristiano Ronaldo of moving the Coca-Cola bottles had a very negative impact on the brand. The brand suffered a huge loss.
Cristiano Ronaldo moved the bottles of the carbonated drink and then shouted in Portuguese, “Agua”. Considering the fan base of Cristiano Ronaldo the brand had to g through a huge downfall.
Coca -Cola’s stock prices dropped by 1.6%. The brand value of Coca-Cola went from worth USD 242 Billion to USD 238 Billion. Coca-Cola’s brand value dropped by USD 4 Billion dollars just by a small act of Cristiano Ronaldo.