How did Coca-Cola lose $4 billion – Coca-Cola VS Cristiano Ronaldo Complete story
News 📰
A recent video was viral on most of the social media platforms where the Portuguese Footballer, Cristiano Ronaldo had taken off Coca-Cola bottles and asked for drinking water instead. The action of the Portugal star had cost Coca-Cola a lot of money which led them to lose their market share as well. However, in this article let’s look at what actually happened in the press conference and later on.
Cristiano Ronaldo – Latest News
The Incident at Euro 2020
Impact on Coca-Cola
Coca-Cola's Response to the video
About Cristiano Ronaldo
What is Euro 2020
FAQ
Cristiano Ronaldo – Latest News
The Portuguese Football team captain had removed two bottles of Coca- Cola before the beginning of the press conference of Euro 2020. The action from Cristiano Ronaldo had cost the company around USD 4 billion dollars as the shares of the brand had fell later on after the incident.
The Incident at Euro 2020
Cristiano Ronaldo is a global superstar and has a lot of influence in the worldwide community. Whatever he does on field and off-field would leave a major impact in the minds of people. Cristiano Ronaldo prior to attending a press conference of the Euro 2020 had moved the Coca-Cola bottles that were present in front of him and switched to a water bottle instead.
He even added in Portugal to the viewers of the video to choose water instead of aerated drinks. The video had gone viral on different social media platforms and caught the attention of a lot of people worldwide.
This act was done in a press conference which Ronaldo was supposed to speak regarding his match against Hungary on 14 June 2021 for Euro 2020.
Impact on Coca-Cola
Coca-Cola is a global brand having the majority of the market share in the aerated drinks and such a gesture from a player is not expected to affect the market share or the sales of the company. But this small incident has affected the entire market share of the global brand and the company’s market share had seen a drop of around USD 4 billion.
The share price of Coca-Cola is said to have dropped from USD 56.10 to USD 55.22 right after the gesture of Cristiano Ronaldo which is around 1.6 % dip. This had led to a drop in the market value of the Soft drink company which went down from USD 242 billion to USD 238 billion.
PV Vyshnavi
Coca-Cola's Response to the video
Coca-Cola had put in a statement regarding the gesture conveying that everyone has their own preferences in order to drink according to their choices and mentioned that they are entitled towards it and also added that, Everyone has different taste and needs.
A spokesperson from the Euro 2020 tournament had also conveyed his views and thoughts about the matter that the players are offered water with Coca-Cola and Coca-Cola zero sugar as soon as they arrive for the press conference.
About Cristiano Ronaldo
Cristiano Ronaldo is a global superstar with a huge fan follower base. The 36-year-old football player is well known in the industry for his fitness and his health maintenance. He is one of the best Football players in the history of the game and has an extensive reach on the Social Media Platform Instagram with around 300 million followers. Ronaldo is known for taking a fine care about his body and this makes him compete with players that are 10 years younger than him.
ATHUL C K
What is Euro 2020
The UEFA Euro 2020 is commonly known as the 2020 UEFA European Championship. It is a football tournament held in 11 cities in 11 UEFA countries which was supposed to happen in the year 2020 but then was rescheduled to 2021. As of now around 12 matched have been played and Cristiano Ronaldo is one of the top scorers in the tournament.
Conclusion
Coca-Cola is one of the main sponsors of Euro 2020 and Cristiano Ronaldo had no problem in putting away the Soft drink bottle aside during the press conference. However, for that match the Portuguese star had scored 3 goals and defeated the Hungary team for a score of 3-0.
FAQ
What is the Revenue of Coca-Cola?
The Revenue of Coca-Cola India was Rs 2,741.54 Crore in 2020.
What is the Market share of Coca-Cola?
Coca-Cola is a leading player in the Indian beverage market with a 60 per cent share in the carbonated soft drinks segment.
What is the Net worth of Ronaldo?
As per Forbes 2020, the net worth of Ronaldo is $ 1 billion.
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