Kohli's endorsement deal with PepsiCo has been up for renewal for over a month now, having ended on April 30. The company is keen on a contract extension considering Kohli's celebrity status.
With growing concerns over sugary drinks, Indian cricket captain, Virat Kohli is on the cusp of make big changes to his brand endorsement deal with Pepsi. Kohli feels that colas don’t chime with his desire to champion fitness.
A PepsiCo spokesperson said, "Discussions are still on with Virat and his team."
According to an executive, "Kohli has reservations about directly endorsing a cola, given the increasing health worries over sugary drinks. He may choose to associate with another brand from within the company's portfolio."
Kohli's endorsement deal with PepsiCo has been up for renewal for over a month now, having ended on April 30. The company is keen on a contract extension considering Kohli's celebrity status. He has been associated with directly with brand Pepsi for at least six years now. With an estimated brand valuation of over $120 million, Kohli has surpassed former colleagues such as Sachin Tendulkar and MS Dhoni.
The Rs 22,000-crore soft drinks industry has been under increasing scrutiny by both governments and health lobbyists. The sector has been facing low single-digit growth in the past five-six quarters, owing to consumer preferences moving to low-sugar beverages, reduced spending on discretionary products and local brands selling at least 15-30% cheaper.