Business & Economy

$ 4 billion loss to Coca-Cola after Ronaldo moved Coca-Cola bottle & advised to drink water.

Cristiano Ronaldo, a Portuguese footballer who has won the title of Famous Athlete, highest-paid athlete, influential person, and the fittest sportsperson is very cautious about his health and takes maximum care about his food habits.

Cristiano Ronaldo and Portugal manager Fernando Santos attended the press conference for the Euro 2020 football match in which the Portuguese are playing against Hungary on June 15, 2021 as the first match. They just sat down to answer the questions asked by the media when Cristiano notices the two bottles of Coca-Cola on the table. Being very conscious about his health, which will have a great effect in the future, he switched those two bottles of Coca-Cola with a bottle of water. By saying “Aqua” in Portuguese, he encouraged others also to drink water instead of soda.

Cristiano Ronaldo once had also stated that he is very strict when his son drinks the aerated drinks and does not allow him to drink or eat unhealthy food for the concern he had for his health. Hence Ronaldo’s reaction towards the bottles of Coca-Cola was not very new for the company and the press.

This incident is now linked to the drop in the share price of Coca-Cola Company by 1.6% by the end of the conference. The share price has decreased from $56.10 to $55.22 and the market value has decreased to $238 billion from $242 billion. The company has faced a total loss of $4 Billion. This did not stop for one day, it continued to the next day also and there was a fall by 0.3%.

Coca-Cola is one of the official sponsors of Euro 2020 and replied to the incident saying that “everyone is entitled to their drink preferences with different tastes and needs. They are offered water and Coca-Cola when they arrive for the meeting”. By the statement, they have not given any direct reaction to Ronaldo’s action but have realized that actions speak louder than words, affecting their company’s market value.

There is another point of view too to this incident. Once Cristiano Ronaldo endorsed the Coca-Cola brand and appeared in many ads for the company. But he is now showing his disinterest towards the brand. Viewers are having mixed opinions about the player.

Since celebrities play a vital role they become the channelizing stream for the customer’s mindset. The words they speak or their actions all matter for the brand’s positioning. And Ronaldo being a very famous sportsperson who is also known for his fitness and health might affect the sales in the coming days and has already affected the share price and market value of the company.

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