[subheading]Coke SHOES? Really?[/subheading]
When thinking about Coca-Cola the first thing that comes to most people’s minds is a dark fizzy drink. However, for Brazilians that may not necessarily be the case. When visiting Brazil, one might be shocked to see the Coca-Cola logo on things other than refreshing drinks.
[subheading]Have a Coke and a …..Sneaker?[/subheading]
The Coca-Cola Company has defied conventional thinking by expanding the Coke brand into Coca-Cola Shoes. The program, which started in the 2000s, boasts dozens of different styles today. With sales over $100 million, Coca-Cola Shoes are now the second most popular brand in the Brazilian market behind Nike. In fact, with the success of shoes, apparel, and accessories, the Brazilian market accounts for more than 30 percent of Coke’s global licensing business. Coca-Cola Shoes even has its own website which boasts, “With a differentiated line of sneakers, high boots and sandals, we help spread all the vibrancy and optimism of Coca-Cola through our actions and our products.”
[subheading]Ready… Set… Connect![/subheading]
This did not happen for Coca-Cola by happenstance. The Coca-Cola Company was very aware of the scalability of their brand and understood its preferences in each market. This enabled Coke to find a company in Brazil that could develop stylish shoes and apparel products. Their popularity was so strong that sales took off and continues to do so today. By expanding into multiple categories whose shelf life is much longer than their beverage, Coke can stay that much more connected to their consumer.
If you are a seasoned brand like Coca-Cola, you may have compelling promise and are ready to use your brand expansion point to enter new categories.