In June 2021, during a press conference for the Euro 2020 football tournament, Coca-Cola’s market value experienced a sharp decline of $4 billion.
This dramatic shift occurred when Portuguese football star Cristiano Ronaldo, sitting at a table with two Coca-Cola bottles in front of him, moved them out of sight and encouraged the audience to drink water instead of sugary drinks.
This action, interpreted as a powerful message against the consumption of sugary beverages, promoted healthier alternatives, aligning with growing concerns about nutrition and wellness.
Ronaldo’s gesture quickly gained global attention, igniting widespread discussions about health, wellness, and the negative impact of sugary drinks on public health. The rapid and substantial decline in Coca-Cola’s market value underscored the profound influence celebrities hold over consumer behavior and the power of brand advocacy.
This event demonstrated how a single moment, driven by a high-profile individual, can reshape consumer habits, directly impacting stock prices and corporate financial performance. The incident serves as a reminder of how celebrity influence can affect major corporations and the growing trend of health-conscious consumer choices, emphasizing the importance of aligning brand messaging with public health concerns.
