MANILA- Coca-Cola Philippines said Friday it would put on hold advertising of its products to use the money for COVID-19 relief efforts.
The beverage giant in a statement said it would re-channel P150 million for the provision of protective equipment for health workers, and delivery of food packs to families most vulnerable to the pandemic.
“Starting today, commercial advertising of Coca-Cola and all our brands in the Philippines will be put on hold. All our committed advertising space and budgets will be redirected towards supporting COVID-19 relief and response efforts for the most affected communities,” it said in a statement.
Coca-Cola said it would also provide beverages to health workers and support for small retailers affected by the economic fallout due to the pandemic.
The Philippines, as of Thursday, had 230 confirmed cases of COVID-19 with 18 fatalities, while 8 patients have recovered.
source: news.abs-cbn.com
NEW YORK - Coca-Cola has taken a stake in BodyArmor, a sports drink supported by Kobe Bryant, in the soda giant's latest bid to challenge market leader Gatorade, the two companies announced Tuesday.
Coca-Cola will take a minority stake in BodyArmor that could later be increased and grant the smaller company access to the Coca-Cola bottling system. Terms were not disclosed in a joint statement.
The move comes as Coca-Cola and PepsiCo, which owns Gatorade, face challenges growing soda sales because of concerns about obesity and artificial sweeteners.
The joint press release emphasized that BodyArmor contains no artificial colors or flavors and that a diet version of the drink is naturally sweetened.
BodyArmor will be "a strong offering to our system alongside our already powerful hydration portfolio as we accelerate our position as a total beverage company," said Coca-Cola North America President Jim Dinkins.
Retired basketball star Bryant, now the number 3 shareholder in BodyArmor, took a direct shot at the competition.
"Proud of our team at @DrinkBODYARMOR & our new partnership with the @CocaColaCo who believes in our mission of becoming the #1 Global Sports Drink," he said on Twitter.
"Thanks @Gatorade, we'll take it from here… #ObsessedWithBetter"
source: news.abs-cbn.com
