Home Newsroom Locatelli follows Ronaldo, keeps Coca-Cola bottles aside | How do celeb gestures affect brands?

Locatelli follows Ronaldo, keeps Coca-Cola bottles aside | How do celeb gestures affect brands?

D2C Admin

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Locatelli follows Ronaldo, keeps Coca-Cola bottles aside | How do celeb gestures affect brands?

0 min read

The recent 5-minute gesture of Cristiano Ronaldo in a pre-match press conference ahead of UEFA EURO 2020 cup cost Coca-Cola $4 billion. Following his footsteps, Italy’s Manuel Locatelli also set aside the Coca-Cola bottle outside of the camera view before beginning with the press conference. One of the official sponsors of EURO 2020, Coca-Cola released a statement after Ronaldo’s incident defending the act; “everyone is entitled to their drink preferences” with different “tastes and needs”. The company’s spokesperson said, “players are offered water, alongside Coca- Cola and Coca-Cola zero sugar.”

Ronaldo is well-known for his fitness discipline and preference for water over aerated drinks. But the recent dip in Coca-Cola shares creates a puzzling scenario to understand the relation between these series of incidents and their impact on beverage giants like that of Coca-Cola.

But does Ronaldo have that much power?

It comes as no surprise when Cristiano Ronaldo prefers water over the soft drink overloaded with sugar, given his fitness regime and extra-disciplined diet. But maybe he does not wield so much power to cut short the market value of this beverage giant to $4 billion. It is very plausible that Coca-Cola’s dip was triggered due to a range of other factors. What others cannot see is that this incident might turn out to be the most surprising publicity the beverage giant has witnessed recently.

Market experts are also of the opinion that this dip in the company’s value is not just due to Ronaldo’s gesture. The beverage company’s stock was already 0.9% below the Friday price on the morning of Monday, that too six hours before Ronaldo’s pre-match press conference drama unfolded.

Coca-Cola is a behemoth of a company. This is suggestive of the fact that it won’t even bat an eyelid on its loss of $4 billion. The beverage bumper company still has a market cap of $237 billion. The stocks are anticipated to recover completely and quickly, and this publicity might even benefit it in the same.

Low-key Publicity Tricks?

Elon Musk and Bitcoin

(Image Credits: News18 Creative)

A similar trend was seen when Billionaire entrepreneur Elon Musk captured public attention with his that caused Bitcoin prices to rise and fall. Bitcoin lost 15 percent of its value in less than 24 hours after Musk announced that Tesla would no longer accept Bitcoin as payment for its environmental impact.

Kylie Jenner and Snapchat

(Image Credits: News18 Creative)

When reality TV star Kylie Jenner spoke about the new Snapchat design over Twitter, the company’s stock price fell 8 percent by bringing a loss of $1.95 billion from Snapchat’s total value.

Basketballer LeBron James and Samsung

(Image Credits: News18 Creative)

Coca-Cola has witnessed “favorable mentions by such meme stock traders on Reddit” on similar lines. The company’s ticker page was the top page that attracted the highest traffic on a leading finance website.

The CEO and Chairman of Coca-Cola James Quincey answered the leading media house that it was a great rebuilding of the beverage giant’s momentum, as it gets back to pre-pandemic levels of volume in March. He adds that it is not only a testament to the work on marketing but also innovation and working with their bottlers to execute.

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