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The Coca-Cola Co. (NYSE: KO) may have Warren Buffett as a key investor and it may have just been named in a UBS top dividend list, but the company’s growth and its stockholder prospects remain under question. Perhaps NBA superstar LeBron James can make a difference. Maybe.
An announcement on Wednesday shows that LeBron James is taking his creative expression off the court to collaborate with Sprite on a unique, new flavor — the limited-edition Sprite 6 Mix by LeBron James. The 20-ounce bottles will be available in convenience and value stores.
The mix is a traditional Sprite with a splash of cherry and orange flavor that was co-developed with James. The company showed that it has had a relationship with James since he entered the NBA back in 2003.
Again, can Coca-Cola get a boost from this? It seems as though having this solely as a limited edition for a short time could limit the results. The new Sprite 6 Mix will be supported by a multichannel advertising campaign — 15 second commercials and digital videos of James and his marketing team during a working session at LRMR offices in Akron, Ohio. Also, digital billboards and digital banner ads will feature the product and campaign tagline: LeBron Has Changed the Game. Again.
LeBron James said:
I had a great time working with the Sprite team to turn my favorite flavors into a pretty cool variation of one of my favorite brands. I’m proud of what we created and I’m excited for my fans to try it.
Sprite 6 Mix will be available in 20-ounce bottles and 19.2-ounce cans with a custom logo using the James name and number, and also featuring a custom “6” with a crown to integrate his nickname of “King James.”
This is far from the New Coke effort of the past, which flopped. It also seems hard to imagine that this will be a major driver of anything lasting for Coca-Cola shareholders. That being said, these soft drink giants are now so large that it may just be too hard to move the needle in any meaningful way. Maybe it just takes dozens of efforts and initiatives like this to be combined to move the needle.
Trading at $38.47, Coca-Cola has a 52-week range of $36.83 to $43.43. What Coke does have going for it is its dividend yield of 3.2%. Also note that its market value is up at $169 billion and its 2013 global revenue was $46.85 billion.
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