Tiger Woods Reaches Five-Year Deal With Gatorade
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Gatorade Launching G2 And
Propel Invigorating In December |
Tiger Woods has reached a five-year endorsement deal with Gatorade that could be worth “as much as $100M,” according to sources cited by Scott Hamilton of GOLFWEEK. Woods’ compensation will be "based on his endorsement fee and royalties from sales of at least three Gatorade products, including a new proposed drink that will be named after the player.” The deal, which sources indicated was finalized in August, “reportedly trumped a royalty-based bid by Vitaminwater worth up to $75[M]” (GOLFWEEK.com, 9/7).
G2: The WALL STREET JOURNAL's Betsy McKay reports PepsiCo Inc.’s new low-calorie version of Gatorade “will be launched between December and next spring” along with “three other new or revamped water brands." The move marks an attempt to “reverse a slowdown in North American sales of Gatorade,” including a Q2 decline of 13%. The new beverage, to be dubbed G2, is Gatorade’s “first formal effort to reach out to consumers when they aren’t trying to break a sweat.” Pepsi said that “only 21% of Gatorade consumption currently comes from people during nonworkout or ‘nonsweat’ occasions when they might want a lighter drink.” The other new brand will be called Propel Invigorating water Pepsi is also “tweaking the name of its core Propel brand, substituting the word ‘fit’ for ‘fitness’” (WALL STREET JOURNAL, 9/7).
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