Pepsi Bets on Fading Cricket League to Tip Coke: Corporate India
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PepsiCo Inc. is betting on India’s annual cricket tournament to arrest at least five years of decline in market share and close the gap with leader Coca-Cola Co. in the South Asian nation’s soft drink market.
The world’s second-largest beverage company, which is spending 3.97 billion rupees ($73 million) over five years on sponsoring the Indian Premier League, will introduce a special edition 500 milliliter can and offer fans opportunities to watch games with celebrities, Deepika Warrier, vice president for beverage marketing at Purchase, New York-based PepsiCo’s India unit, said.