The Euro Cup 2020 is currently underway, and of course, everyone’s eyes are on the world’s star player: Cristiano Ronaldo. Known for being passionate about health, the player made headlines after removing two bottles of Coke that were set beside him during a recent press conference. The impact of this move has been much greater than anyone could have anticipated.
Cristiano Ronaldo Removes Coke Bottles From A Press Conference
Coca-Cola is one of the 2020 Euro Cup’s major sponsors. For this reason, they place bottles of Coke in front of players during each press conference. Cristiano Ronaldo is known for his obsession with healthy living and clearly did not appreciate it.
In a video from a recent press conference ahead of a game versus Hungary, you can see the superstar looking at the two coke bottles with disdain before removing them from the shot. He then holds up the bottle of water that the organizers also placed there and says loudly in Portuguese, “Agua!” (water).
Coke Feels The Impact
What might seem like a simple action to encourage people to choose healthier beverages had devastating effects for Coca-Cola. Immediately after the gesture, the company’s share price dropped from $56.10 to $55.22. Coke’s market value took an even bigger hit, according to The Guardian, dropping a whopping $4 billion from $242 billion to $238 billion.
To anyone who understands the impact that celebrities can have on brands, this is not actually overly shocking. After all, Ronaldo boasts an Instagram following of 300 million with a loyal fan base who watch all of his games and conferences. With millions of people who aspire to be just like the 36-year-old soccer sensation, if he says no to Coke, many of his fans will follow suit.
Coke’s Response
Naturally, the food and beverage industry giant is not happy about the event. They claim that the drinks are there for all players and that it is their choice what to drink. They are not trying to force anything on anyone.
“Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.” Everyone “is entitled to their drink preferences”. A spokesperson said.
Source: The Guardian
Time will tell to see how Coke bounces back from this setback. One thing is for certain – they will make sure that no soda bottles are placed in front of Cristiano Ronaldo at any future press conferences throughout this tournament.
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Sources
- “Coca-Cola loses billions in market value after Cristiano Ronaldo removes bottles and says ‘drink water’.” Independent. Samuel Osborne. June 16. 2021.