Coke and Pepsi boycott over Gaza lifts Muslim countries' local sodas [Yahoo! Finance Canada]
COCA COLA HBC UNSP/ADR (CCHGY)
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Source: Yahoo! Finance Canada
By Ariba Shahid, Jessica DiNapoli and Farah Saafan KARACHI/CAIRO/NEW YORK (Reuters) - Coca-Cola and rival PepsiCo spent hundreds of millions of dollars over decades building demand for their soft drinks in Muslim-majority countries including Egypt to Pakistan. Now, both face a challenge from local sodas in those countries due to consumer boycotts that target the globe-straddling brands as symbols of America, and by extension Israel, at a time of war in Gaza. In Egypt, sales of Coke have cratered this year, while local brand V7 exported three times as many bottles of its own cola in the Middle East and the wider region than last year. In Bangladesh, an outcry forced Coca-Cola to cancel an ad campaign against the boycott. And across the Middle East, Pepsi's rapid growth evaporated after the Gaza war started in October. Pakistani corporate executive Sunbal Hassan kept Coke and Pepsi off her wedding menu in Karachi in April. She said she didn't want to feel her money had reached
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