Beverage giant pays Rs 397 crore for a five-year period to change the game to Pepsi IPL
BestMediaInfo Bureau | Delhi | November 22, 2012
PepsiCo India yesterday announced its association with the Indian Premier League (IPL) as the title sponsor for the next five years starting 2013. PepsiCoâs winning bid was at Rs 396.8 crore for the five-year period, making this the largest investment the company has made in the game of cricket.
A tender was called last month for a new title sponsor after DLF ended its five-year association with IPL as the title sponsor in August. DLF had paid Rs 200 crore for the five-year period of 2008-12.
Announcing the successful bid, Manu Anand, Chairman, PepsiCo India Region, said, âI am delighted that we have succeeded in rebranding the tournament as Pepsi IPL, thus cementing a five-year partnership between two brands which enjoy an iconic status not only in India but globally. With our continuing sponsorship of the ICC World Cup, we are the now biggest supporters of the game of cricket. We have reaffirmed our passion and commitment to cricket and this investment reiterates the importance of India business in the PepsiCo global system.â
âThe partnership will add to the stature of both the brands; cricket is a religion in India and IPL is now its most revered temple where the faithful flock to. Given its historic association with the game, brand Pepsi will add new lustre to the tournament,â said Gautham Mukkavilli, CEO, Beverages, PepsiCo India Region.
PepsiCo has organically grown eight Rs 1,000-crore plus brands in a short span of 20 years in India including Pepsi, 7UP, Mirinda, Slice, Layâs, Kurkure, Mountain Dew and Aquafina. The company which has sustained double-digit growth across its foods and beverage businesses has been consistentlyÂ investing in India in brand building, capacity expansion and developing market infrastructure.
Deepika Warrier, Vice President - Beverage Marketing, PepsiCo India, elaborating on the rationale for the bid, said,Â âNo scale association with cricket is possible in India without a sizeable IPL presence.Â IPL, the biggest cricket event in the subcontinent, has now become the new face of Indian cricket which combines the best of cricket with entertainment, regional club passion and international glamour.â
âBrand Pepsi is an iconic youth brand and one of the most recalled and trusted brands across categories in the country. Now with this association we hope to catapult brand Pepsi to an even higher orbit as the most universal, popular, trendsetting youth brand. The title association of Pepsi IPL and other benefits will allow brand Pepsi and other PepsiCo brands to gain more than conventional sponsorship benefits and generate immense universality across the country,â Warrier added.
Talking about the next IPL campaign, Warrier said, âPepsi has given some of the most recalled brand campaigns such as âYehi Hai Right Choice Babyâ, âNothing Official About itâ, âYe Dil Mange Moreâ and âChange the Gameâ.Â We are working on innovative and exciting campaigns around IPL and we will change the game once again.â