PepsiCo Inc. (PEP) has teamed up with the Estate of Michael Jackson to feature the late pop star’s image on its Pepsi cans.
Per the global partnership, the soft drink company will launch 1 billion cans of its popular soft drink, Pepsi, which will feature Michael Jackson's iconic image in silhouette. The partnership is part of PepsiCo’s broader ‘Live for Now’ marketing campaign which was launched in U.S. last month. The partnership coincides with the 25th anniversary of the legendary singer’s multi-platinum album, Bad.
The campaign will also feature some music events and contests where fans can win special edition merchandise. As part of the campaign, Pepsi, Jackson's estate, and his Sony Music record company have also entered into a deal to share new mixes of music from the Bad album.
On May 5, limited edition Pepsi cans were launched throughout China and will be launched later this month in the U.S. Thereafter, the Michael Jackson activity will be rolled out in 20 other countries in Asia, South America and Europe. From May 15 to June 14, the company will offer Chinese fans tickets to a popular tour on sharing photos of their Jackson collections or original artwork.
PepsiCo is trying to lure Michael Jackson fans to boost sales of its Pepsi soft drink and win market share from its biggest competitor The Coca Cola Company (KO).
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Currently, the stock retains a Zacks #3 Rank (short-term Hold rating). Over the long term, we provide a Neutral recommendation on the stock.
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