The Coca-Cola Company, China Mengniu Dairy Company, and the International Olympic Committee have signed a joint partnership agreement that combines the non-alcoholic beverage and dairy categories into a new joint category.
The agreement has a tenure of 12 years and will run through the Olympic Games of 2032.
The deal includes investment in traditional and digital media to promote the Olympic values across the globe, Coca-Cola said in its statement.
'Unifying Power'
Commenting on the partnership, IOC president, Thomas Bach, said, "This long-term agreement is another demonstration of the relevance and stability of the Olympic Games in these times of uncertainty.
"Having our longest-standing partner, Coca-Cola, an iconic American brand, together with a young Chinese company, Mengniu, joining hands under the roof of our Worldwide TOP Programme is a great example of the unifying power of the Olympic spirit," he added.
The agreement extends Coca-Cola's association with the Olympic Movement to 104 years.
'A Lot Has Changed'
Chairman and CEO of The Coca-Cola Company, James Quincey, said, "We are honoured and privileged to be a part of the Olympic Movement that makes it possible for athletes from all over the world to come together to represent their nations, pursue their dreams and be a part of history. A lot has changed since we sold the first Coca-Cola at an Olympic event in 1928."
The deal has enabled Mengniu to become the first Chinese FMCG company to secure TOP partnership.
It will be instrumental in the company's international growth plans to become one of the top dairy producers in the world.
'Unrivalled Platform'
CEO and executive director of Mengniu, Jeffrey Lu, said, "This is a vital step in our international strategy, and we are honoured to have the opportunity to build the positive reputation of Chinese food and beverage brands among consumers globally.
"As a Worldwide TOP Partner, we look forward to using the unrivalled platform of the Olympic Games to promote health and joy to Olympians and fans alike," he added.
The joint partnership agreement includes marketing rights for the International Paralympic Committee (IPC) and the Paralympic Games through the IOC-IPC long-term collaboration agreement, as well as for the Youth Olympic Games, Coca-Cola said.
Olympic marketing programmes are based on the fundamental principle of exclusivity within a specific product category and territory.
The deal will not affect the current Beijing 2022 domestic partner’s exclusive rights in its designated category in the Chinese market.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.
