Coke was in the limelight for all the wrong reasons this week when soccer superstar Ronaldo told his adoring fans to drink water not the sponsor coke, at a major press conference at the European Football Championships – this is a sportsman who has the largest Instagram following in the world at over 270 million, way ahead of the likes of Kim Kardashian and the Rock, popularity that has helped make him a billionaire in the process.
The stock fell less than 2% as many quoted “there’s no such thing as bad publicity” but on balance I disagree here, as we slowly move to a healthier lifestyle it’s not good when your very audience is being told by its idols to avoid your products – MM has no interest in investing in a sugar drink business believing it has some major headwinds to overcome over the years ahead – although I still like a can of black Panadol!
