Coca-Cola loses $4 billion in market value after Cristiano Ronaldo shuns Coke

Coca-Cola loses billions in market cap after Ronaldo says ‘drink water

Portugal star Cristiano Ronaldo replaced two bottles of coke with a water bottle and it’s like a nightmare for Coca-Cola. Coke suffers a $4 billion loss in the market capitalization of the beverage giant.

Have you ever thought that what will happen if you remove two bottles of coke and pick a bottle of water?

Yeah, We are talking about the king of football Ronaldo who remove two Coca-Cola bottles from the Conference table and pick a water bottle, and said “Drink water” during the press conference of Portugal vs Hungary match and because of this incident Coke suffered the loss of $4 billion. Coke shares are down by $56.10 to $55.22 means a loss of $4 billions (₹2800 crore).

Coca-Cola loses billions in market cap after Ronaldo says ‘drink water

Why does this happen?

We all know Ronaldo is the world’s best footballer apart from this, he is the most followed star in the world and he is also one of the fittest people in the world.

Recently, Ronaldo completes 300 million fan followers on Instagram.

He attracts a lot of brands in his own segment. He serves as a medium to reach out high Targeted audience in his own segment.

Reasons why brands love Cristiano Ronaldo?

He has the most engaging account on social media called Instagram.

He has created a huge fanbase through his game.

He is good-looking and has one of the best personalities.

He Mostly targets his audience who are into fashion sense and hence mostly works for fashion brands.

Ronaldo has fans in every corner of the world. Everyone follows him, so its effect was bound to be on Coke. That’s the reason, Coca-Cola company suffer a big loss on this.

Also Read – Cristiano Ronaldo becomes the first person to reach 300 million followers on Instagram

Coca-Cola Responds to Cristiano Ronaldo’s Act of Replacing the Soft Drink With Water

Coca-Cola one of the official sponsors of Euro 2020, also decided to put a statement after Ronaldo’s act, saying: “everyone is entitled to their drink preferences as everyone have different tastes and needs”. Despite being the official sponsor of Euro 2020, the company had no problem with Ronaldo putting down the bottle of Coca-Cola.