(ATR) Global Olympic sponsor Coca-Cola will drop around 200 drinks brands amid a continuing sales slump caused by the Covid-19 pandemic.
The number of brands to be discontinued represents about half of the company’s portfolio.
The brands on the chopping block were not identified but Coca-Cola has said recently that Tab, Zico and Odwalla would be scrapped.
CEO James Quincey admitted on Thursday that it was likely that brands from its "hydration" category would also be removed. Dasani, Powerade and Smart Water are brands within that category.
Coca-Cola says it wants to focus on its stronger brands or those with growth potential. More than half of the company’s current brands collectively generate just two percent of its revenue.
The decision to cut so many drinks brands comes as the company announced a nine percent drop in net revenues in the third quarter of the year.
Coca-Cola blames it on the decline in drinking outside of the home, with the continued lockdown measures either keeping restaurants closed in some areas or limiting the number of people allowed to eat out.
Birmingham 2022 Chooses IT Services Provider
NVT Group will be the official IT Services Provider for the 2022 Commonwealth Games in Birmingham, England.
The company, based in Glasgow, Scotland, has plenty of sporting experience including the 2014 Glasgow Commonwealth Games, the Ryder Cup in Gleneagles in 2014, the 2015 European Games in Baku and the European Championships in 2018.
NVT will deliver IT services in conjunction with a Birmingham-based partner.
"The unique technology we use has been tried and tested across the world at major sporting events, but we’re eager to share it with local firms as a means of leaving a legacy imprint at Birmingham 2022 and helping British technology remain at the cutting edge of global communications infrastructures," Hamish Fraser, Group Managing Director of NVT, said in a statement.
USA Triathlon and Body Glide Renew Partnership
USA Triathlon announces the extension through 2024 of its partnership with Body Glide, the industry’s leading maker of skin protection for wetsuit rash, chafing, foot blisters and raw skin.
Body Glide is one of the National Governing Body’s longest-standing partners, having first teamed up with USA Triathlon in 2001.
As USA Triathlon’s Exclusive Sport Lubricant, Body Glide will provide complimentary product to members of the U.S. National Team and Toyota U.S. Paratriathlon National Team.
It will also continue to be available at an exclusive 15 percent discount for USA Triathlon Annual Members for products purchased on bodyglide.com.
In addition, Body Glide will serve as the presenting partner of the Athlete Checklist, to be shared with athletes competing at all USA Triathlon-owned National Championships as well as a new "Essentials Video" that will present key elements of successful triathlon training and competition.
Telenot Signs on for Third Season with FIS
Electronic security company Telenot will be an official sponsor for selected FIS Alpine Skiing and Ski Jumping World Cup events for a third straight season.
The partnership, brokered by Infront, means Telenot’s branding will be seen in a variety of places at 22 Alpine Skiing and two Ski Jumping World Cups throughout Europe.
Telenot’s presence will gradually expand for the 2020-21 season, with its logo appearing at the start and finish areas at selected competitions as well as on course. It will also be on the start numbers of all athletes for five races.
Written by Gerard Farek
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