PepsiCo confirms the end of Virat Kohli's six-year endorsement deal

PepsiCo and Indian captain Virat Kohli have ended their association, after Kohli decided not to promote products that goes against his fitness ideals. Both the parties took a mutual call and put an end to their six-year endorsement association. Pepsico have been associated with Indian cricketers and other big names since ages. The likes of Sachin Tendulkar, Sourav Ganguly and cricketers across the border have also played cameos in the ads.

Kohli is currently India’s highest-paid celebrity and the most marketable face in the country. The cricketer was ranked 89th in the Forbes list of the World’s highest-paid athletes in 2017, earning over $22 million.

“Yes, the old agreement has ended and both parties have amicably decided not to renew (it) as of now,” a PepsiCo spokesperson confirmed in an email. “We are in constant touch to explore new associations.” An email query sent to Cornerstone, the talent management firm that represents Kohli, elicited no response.

Pepsico wants to focus more on digital advertisement

It has been reported that Pepsico were interested in extending the contract since Kohli is the biggest icon in the cricket loving country, but they have also strategically planned to cut down on their expenditure and focus more of digital advertisement.

“Soft drink companies need to step up innovations and launch relevant products since concerns about sugar have come home,” said Shripad Nadkarni, former marketing head of Coca-Cola and co-founder of fresh-food startup Fingerlix. PepsiCo has always banked on celebrities to advertise its brands and at one point had almost the entire cricket team. “Historically, names endorsing colas used to be the ultimate youth icons. But with the number of options of consumer connections increasing dramatically, the share of mass media, too, has come down,” Nadkarni said.