The Jerusalem Post

‘Ronaldo snub didn’t directly impact on Coca-Cola sales’


Coca-Cola Co. has not seen any direct sales impact after Portugal soccer player Cristiano Ronaldo removed two bottles of its drink placed in front of him at a Euro 2020 press conference in June, the beverage giant’s finance chief said on Wednesday.

Ronaldo, a health fanatic with an aversion to carbonated drinks, snubbed the brand by holding a bottle of water and saying “agua”, Portuguese and Spanish for water. His action sent the Internet into a frenzy and briefly wiped off billions of dollars from the company’s market capitaliza­tion.

“You have to take the long view on these partnershi­ps. You’re always going to have some events that don’t necessaril­y go your way and we just deal with them and manage them as such,” Coca-Cola Chief Financial Officer John Murphy said in an interview.

“Our commitment to these major tournament­s has not been affected,” Murphy added.

The pop maker raised its full-year sales and profit forecasts on Wednesday, as demand bounces back from pandemic lows for its beverages following the re-opening of theaters, restaurant­s and stadiums. (Reuters)

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