LAUSANNE: The International Olympic Committee (IOC), The Coca-Cola Company and China Mengniu Dairy Company Ltd Monday announced that they have signed the first-ever Joint TOP Partnership Agreement.
The partnership combines the non-alcoholic beverage and the dairy categories into a new joint category, and brings Chinese dairy company Mengniu into the family of Worldwide TOP Partners.
The 12-year deal, which runs through to the 2032 Olympic Games, is worth a combined $3 billion, according to the Financial Times, making it one of the biggest sponsorship tie-ups in the history of sport.
The agreement includes “unprecedented investment in traditional and digital media to promote the Olympic values globally”, the IOC declared.
This agreement extends The Coca-Cola Company’s association with the Olympic Movement to a historic 104-year-long relationship. The Coca-Cola Company is the longest continuous Partner of the Olympic Games.
Mengniu becomes the first Chinese fast-moving consumer goods company to become a TOP Partner. The Joint TOP partnership supports Mengniu’s ambitious international growth plans, with the company aiming to become one of the top dairy producers in the world by 2025.
IOC president Thomas Bach said: “This long-term agreement is another demonstration of the relevance and stability of the Olympic Games in these times of uncertainty. 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. This partnership will give another dimension to the promotion of the Olympic values around the world.”
The Joint TOP agreement also includes marketing rights for the International Paralympic Committee (IPC) and the Paralympic Games through the IOC-IPC long-term collaboration agreement, as well as for the Youth Olympic Games.
Olympic marketing programmes are based on the fundamental principle of exclusivity within a specific product category and territory. The current Beijing 2022 domestic partner’s exclusive rights in its designated category in the Chinese market will not be affected.
Jiri Kejval, IOC Marketing Commission chair, said: “We are very excited to continue our relationship with our long-standing Partner Coca-Cola for many years to come, and to begin working with Mengniu. The agreement represents an unprecedented commitment to support the IOC to engage young people and promote the Olympic values around the world. We are also delighted to bring another Chinese company to the Worldwide Olympic Partner family as part of this collaboration.”
Bea Perez, chief public affairs, communications, sustainability and marketing assets officer for The Coca-Cola Company, said: “We’ve been a part of bringing so many incredible moments to Olympic Games fans over the years – moments that have been inspired by the pursuit of excellence, the possibility of opportunities, the spirit of competition, and a vision for a better world. With the past 90 years as our foundation, we can’t help but be excited for what the future holds.”
Yong Zhang, vice-president of Strategy at Mengniu, added: “The Olympic Movement and Mengniu are naturally aligned. We both aim to bring health and joy to people, and Mengniu’s brand advocates ‘Born for Greatness’ – another natural fit with the Olympic values. Mengniu reaches hundreds of millions of consumers worldwide and will encourage more people to follow and participate in the Olympic Movement, while also contributing ‘China’s strength’ to the global development of the Olympic cause and successful hosting of future Olympic Games.”
