Warren Buffett has been unveiled as the cover star for the launch of a new Coca-Cola product in China.
Buffett may be the world’s best known fan of Cherry Coca-Cola and, thanks to his popularity in China, the Oracle of Omaha has seen his likeness added to cans and bottles of Cherry Coke to help celebrate the launch of the product.
“Four or five months ago, [Coca-Cola chairman and CEO] Muhtar [Kent] said they were going to introduce Cherry Coke into China and asked me about putting my picture on the cans and bottles,” Buffett told Yahoo Finance.
“I said it would be fine to do it for the first six months after launching the product. If there are no problems associated with this and he asks me to continue, I will likely say OK.”
Buffett enjoys something akin to rock star status in mainland China. Thousands of hopeful investors fly in from China to Omaha for Berkshire Hathaway’s annual meeting, which is also broadcast on Chinese television.
“I can’t think of a better way to launch Cherry Coke than with its best-known fan on the package,” Kent said, according to Yahoo Finance.
“It is an honour for us to be able to feature Warren on his favourite drink as it rolls out in one of the world’s most exciting and dynamic consumer markets.”
Buffett, who is worth an eye-watering US$75.6 billion, isn’t trying to cash in on his new found endorsement deal though, as there is no fee involved.
This article is from Insurance Business NZ by Jordan Lynn