Patrick Mahomes Signs With Logan Paul-Backed PRIME Drink Company: Why This Could Be Bad News For Coca-Cola And Pepsi
Portfolio Pulse from Chris Katje
Patrick Mahomes has signed with PRIME Drink Company as a PRIME Hydration Athlete, potentially boosting the brand's profile and challenging the dominance of Coca-Cola and Pepsi in the sports drink market. PRIME, co-founded by Logan Paul and KSI, has shown significant growth, with $565 million in sales and a 896% increase year-over-year. Coca-Cola and Pepsi, with their respective brands Powerade, BodyArmor, and Gatorade, may face increased competition as PRIME continues to expand its market presence.
December 19, 2023 | 9:09 pm
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NEGATIVE IMPACT
Celsius Holdings, with a major investment from PepsiCo, may also feel competitive heat from PRIME's growth and the high-profile endorsement by Patrick Mahomes.
Celsius Holdings may encounter heightened competition from PRIME's aggressive market expansion and celebrity endorsements, which could impact investor sentiment and stock performance.
CONFIDENCE 65
IMPORTANCE 40
RELEVANCE 50
NEGATIVE IMPACT
Coca-Cola, with its sports drink brands Powerade and BodyArmor, may face increased competition from PRIME, which is rapidly growing and now endorsed by Patrick Mahomes.
The endorsement of a high-profile athlete like Mahomes can significantly boost PRIME's brand recognition and market share, potentially taking away from Coca-Cola's customer base in the sports drink segment.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Monster Beverage, partially owned by Coca-Cola, may see indirect competition from PRIME's expansion in the energy drink sector, especially with the launch of PRIME Energy in 2023.
While Monster Beverage is not directly competing in the sports drink segment, the overall growth of PRIME, including its energy drink line, could pose a threat to Monster's market position.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
PepsiCo, owner of the dominant sports drink brand Gatorade, may experience competitive pressure due to PRIME's growth and new endorsement deal with Patrick Mahomes.
The signing of Patrick Mahomes by PRIME could enhance the brand's appeal, potentially impacting Gatorade's market share and PepsiCo's revenue from sports drinks.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Keurig Dr Pepper, which entered a distribution deal with Electrolit, may benefit indirectly from the overall growth in the sports drink market, as seen with PRIME's success.
Keurig Dr Pepper's partnership with Electrolit, another growing sports drink brand, suggests potential benefits from the expanding market, although PRIME's success does not directly impact KDP.
CONFIDENCE 60
IMPORTANCE 30
RELEVANCE 40