Cristiano Ronaldo has wiped off $5.2 billion of Coca-Cola’s market value this morning.
It happened after he took the sponsored Coca-Cola bottles off the table in front of him at his press conference, and told people to drink water instead.
AUT marketing lecturer Jessica Vredenburg told Heather du Plessis-Allan that this wouldn't have been what the company anticipated when sponsoring Euro 2020.
She says it will be a learning opportunity for the company about what they do with their sponsorship moving onwards.
"There could have potentially been a different way they could have communicated their sponsorship rather than placing two bottles of Coke in front of an athlete who has made it clear he is very pro-healthy, clean eating."
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