Cristiano Ronaldo’s rejection of Coca Cola erases billions of brand market share

At a recent press conference on the Euros, footballer Cristiano Ronaldo was seen changing bottles of Coca-Cola and choosing water instead. Lifting the bottle, he also encouraged viewers to choose water over soda. Everyone knows what a health freak he is. While this press conference was held in Budapest on Monday, it didn’t take long for the brand’s market share to be wiped out by the millions once the story hit different platforms.

Holding the water bottle, Ronaldo said ‘Water’ to ask people to try water instead of soft drinks, as the latter are harmful to health. Due to this statement, Coca-Cola’s share price fell from $ 56.10 to $ 55.22 billion. This equates to a market value drop of $ 4 billion, which represents a huge loss for the company. And we remind you that the Coca-Cola bottles were scattered on the table just because the brand is one of the sponsors of the Eurocup.

Did Coca-Cola have anything to say about the incident?

The brand returned the next day to respond to various news portals talking about the incident.

They mentioned that everyone was entitled to their own drinking preferences. It so happened that the Portuguese footballer did not like the fact that he had two bottles of soda in front of him on his table. Coca-Cola also clarified that each player is offered 1 bottle of Coca-Cola and Coca-Cola Zero Sugar in addition to water at the table.

They did not care for Ronaldo’s gesture despite facing a great defeat. The company sponsors the UEFA Championship this year and hopes to see some of the best players and teams on the field. Since Ronaldo also has a huge following on Instagram, fans are bound to follow in his footsteps.

What do you think of this situation that was disproportionate due to a small gesture from one of the best footballers in history?

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