Coca-Cola and Mengniu Are Honored Just to Be Here
Here’s a combination that makes sense only in marketing
Image by Stefan Schweihofer from Pixabay
• less than 3 min read
Here’s a combination that makes sense only in marketing: sports, carbonated beverages, and dairy products.
Coca-Cola (+0.72%) and China Mengniu Dairy signed a joint sponsorship deal from 2021–2032 with the organizers of the Olympic Games yesterday. At a reported $3 billion, it’s one of the biggest-ever corporate endorsement deals in sports.
The heart of the deal: The two sponsors arrived with very different motivations.
- Mengniu’s trying to expand its international reach. Despite substantial market share in China, its potential for growth at home has been limited by declining birth rates and the continued fallout from a 2008 baby formula poisoning scandal.
- But for Coca-Cola the Olympics are old hat. The company has been associated with the games since before the discovery of penicillin—1928.
It was a joint-ful day in Lausanne: The International Olympic Committee also voted yesterday to approve a dual bid from Milan and Italian ski resort Cortina to host the 2026 Winter Olympics and Paralympics.
Morning Brew delivers quick and insightful updates about the business world every day of the week from Wall St. to Silicon Valley.
By subscribing, you accept our Terms & Privacy Policy.
Morning Brew delivers quick and insightful updates about the business world every day of the week from Wall St. to Silicon Valley.
By subscribing, you accept our Terms & Privacy Policy.