Surprising Industry, Pepsi inks footwear deal
Surprising industry experts, snacks and beverage maker Pepsico has inked a licensing deal with DVB Brands. As a part of the deal the latter is launching lifestyle-based sports footwear in the country.
According to Pepsico senior VP, Global Beverage Group, Kristin Patrick, “Our iconic brands have enabled us to provide consumers with new ways to engage with Pepsico - whether it be in a can or apparel or accessories. We are creating new opportunities for consumers to engage with our brands across multiple touch points and with strong partnerships with brands including Zara, H& M and Fila.”
DVB Brands chief executive Chandni Batra said that the footwear range is directly youth-focused, which is the core of Pepsi. The product range will be available at e-commerce sites such as Myntra.
Industry experts, however, are not optimistic, citing reason that it will only damage the core brand while revenues from the extension could be minimal.
Mention must be made that in the past, Pepsico has done licensing deals with mobile phones in markets like China.