The International Olympic Committee (IOC) has announced an unprecedented joint partnership agreement with soft drink giant Coca-Cola and Chinese dairy producer Mengniu.
The 12-year deal, which runs through to the 2032 Olympic Games, is worth a combined US$3 billion, according to the Financial Times, making it one of the biggest sponsorship tie-ups in the history of sport.
The agreement will see the IOC’s non-alcoholic beverage and dairy categories combined into a new joint category, allowing Mengniu to join the Worldwide Olympic Partner (TOP) programme for the first time.
The deal, which was confirmed ahead of a vote to decide the host of the 2026 Winter Olympics, will bring Coca-Cola’s association with the Olympic Games up to 104 years, maintaining the US company’s status as the longest continuous partner of the multi-sport event.
Under the agreement, both Coca-Cola and Mengniu will also be granted marketing rights for the International Paralympic Committee (IPC) and the Paralympic Games as part of a long-term collaboration between the IOC and IPC.
An official release added that the deal includes ‘unprecedented investment’ in traditional and digital media to promote the values of the Games globally.
“This long-term agreement is another demonstration of the relevance and stability of the Olympic Games in these times of uncertainty,” said IOC president Thomas Bach. “Having our longest-standing partner, Coca-Cola, an iconic American brand, together with a young Chinese company, Mengniu, joining hands under the roof of our Worldwide TOP programme is a great example of the unifying power of the Olympic spirit.”
James Quincey, chairman and chief executive of the Coca-Cola Company, added: “A lot has changed since we sold the first Coca-Cola at an Olympic event in 1928. With a fresh approach to our business and to our sponsorship, we are proud to join with Mengniu to promote and celebrate future Olympic Games.”
The deal is the latest sign that the IOC is continuing to look to Asia for new commercial partnerships, building on its agreement in 2017 with Chinese ecommerce giant Alibaba. The next two editions of the Games are being held in Asia, with Tokyo welcoming the Summer Olympics in 2020 before the Winter Olympics head to Beijing in 2022.
Mengniu, which was also a sponsor of last year’s Fifa World Cup in Russia, is the first Chinese fast-moving consumer goods firm to join the TOP programme, with the company looking to ramp up its international growth in line with plans to become one of the world’s top dairy producers by 2025.
“Membership of the TOP programme will act as a catalyst for Mengniu to grow around the world,” said Jeffrey Lu, chief executive and executive director of Mengniu. “This is a vital step in our international strategy, and we are honoured to have the opportunity to build the positive reputation of Chinese food and beverage brands among consumers globally.”
Meanwhile, Southeast Asian ecommerce brand Lazada has activated its Olympic Games partnership as part of the IOC’s ten-year deal with its parent company Alibaba.
The International Olympic Committee (IOC) has announced an unprecedented joint partnership agreement with soft drink giant Coca-Cola and Chinese dairy producer Mengniu.
The 12-year deal, which runs through to the 2032 Olympic Games, is worth a combined US$3 billion, according to the Financial Times, making it one of the biggest sponsorship tie-ups in the history of sport.
The agreement will see the IOC’s non-alcoholic beverage and dairy categories combined into a new joint category, allowing Mengniu to join the Worldwide Olympic Partner (TOP) programme for the first time.
The deal, which was confirmed ahead of a vote to decide the host of the 2026 Winter Olympics, will bring Coca-Cola’s association with the Olympic Games up to 104 years, maintaining the US company’s status as the longest continuous partner of the multi-sport event.
Under the agreement, both Coca-Cola and Mengniu will also be granted marketing rights for the International Paralympic Committee (IPC) and the Paralympic Games as part of a long-term collaboration between the IOC and IPC.
An official release added that the deal includes ‘unprecedented investment’ in traditional and digital media to promote the values of the Games globally.
“This long-term agreement is another demonstration of the relevance and stability of the Olympic Games in these times of uncertainty,” said IOC president Thomas Bach. “Having our longest-standing partner, Coca-Cola, an iconic American brand, together with a young Chinese company, Mengniu, joining hands under the roof of our Worldwide TOP programme is a great example of the unifying power of the Olympic spirit.”
James Quincey, chairman and chief executive of the Coca-Cola Company, added: “A lot has changed since we sold the first Coca-Cola at an Olympic event in 1928. With a fresh approach to our business and to our sponsorship, we are proud to join with Mengniu to promote and celebrate future Olympic Games.”
The deal is the latest sign that the IOC is continuing to look to Asia for new commercial partnerships, building on its agreement in 2017 with Chinese ecommerce giant Alibaba. The next two editions of the Games are being held in Asia, with Tokyo welcoming the Summer Olympics in 2020 before the Winter Olympics head to Beijing in 2022.
Mengniu, which was also a sponsor of last year’s Fifa World Cup in Russia, is the first Chinese fast-moving consumer goods firm to join the TOP programme, with the company looking to ramp up its international growth in line with plans to become one of the world’s top dairy producers by 2025.
“Membership of the TOP programme will act as a catalyst for Mengniu to grow around the world,” said Jeffrey Lu, chief executive and executive director of Mengniu. “This is a vital step in our international strategy, and we are honoured to have the opportunity to build the positive reputation of Chinese food and beverage brands among consumers globally.”
Meanwhile, Southeast Asian ecommerce brand Lazada has activated its Olympic Games partnership as part of the IOC’s ten-year deal with its parent company Alibaba.
IOC/GREG MARTIN
