“Pepsi was trying to project a global a message of unity, peace and understanding. Clearly, we missed the mark, and we apologize. We did not intend to make light of any serious issue. We are pulling the content and halting any further rollout. We also apologize for putting Kendall Jenner in this position.”
David Haigh, CEO of Brand Finance, commented, “Successful marketing campaigns have the power to add millions to the value of a brand. However, ill-conceived campaigns equally have the power to significantly erode hard-earned brand equity. Pepsi, which already had a difficult 2016 with its brand value dropping by 4% to $18.3 billion dollars, could face further losses in the value and strength of its brand as a result of this ad. Companies are right to push the boundaries and take risks when it comes to marketing products, but this proves that fallout from a single video can have a very damaging effect.”