PepsiCo, Inc. (NYSE:PEP) re-designed its bottle for the first time since 1997 as part of its re-branding efforts, according to report from the Associated Press.
The re-designed 20-ounce bottle of Pepsi features a contoured bottom that allows consumers to grip it easily and its label appears to be smaller, which makes the large part of the drink visible. PepsiCo, Inc. (NYSE:PEP) is expected to launch its new Pepsi bottle next month.
PepsiCo, Inc. (NYSE:PEP) changed the design of its bottle after around 17 years in order to improve the sales performance of its Pepsi soda brand. Last year, the beverage company signed a multi-year agreement to sponsor the Super Bowl halftime show and a deal with pop star, Beyonce to promote Pepsi.
Andrea Foote, spokesperson for PepsiCo, Inc. (NYSE:PEP) said the new 20-ounce bottle is part of the beverage company’s ongoing initiatives in updating its marketing and packaging materials for the Pepsi cola brands including Diet Pepsi, Pepsi Max, and Pepsi Next.. Aside from the 20-ounce bottle, the company will also use the new design for its 16-ounce bottle.
According to Foote, it would take the beverage company one or two years to replace all of the existing designs of the Pepsi bottle. Foote said, “The engineers have to go to all the plants and convert the lines.” PepsiCo, Inc. (NYSE:PEP) will initially roll out the new Pepsi bottles in the New York area, followed by Chicago, then some parts of California, Florida.
The first 20-ounce contour bottle made in the United States was introduced in 1993. Over the years, the company made small changes in the design of the bottle such as shortening the neck of the bottle and making the surface easier to grip.
Based on its filing of PepsiCo, Inc. (NYSE:PEP) with the Securities and Exchange Commission (SEC), its beverage volume dropped by 4 percent last year including a 4 percent drop in carbonated beverages and 3 percent decline in non-carbonated drinks, which prompted the company to boost its initiative to improve the image and promote its brand. The Coca-Cola Company (NYSE:KO) is gaining market share over the past years.
Last month, PepsiCo, Inc. (NYSE:PEP) earnings for the fourth quarter of 2012 were higher-than-expected. The company reported a net income of $1.66 billion, or $1.06 per share higher than its $1.42 billion, or 89 cents per share recorded net income during the same period a year earlier. Its net revenue dropped by 1 percent to $19.95 billion. For the fiscal 2013, the company expected its earnings to increase by 7 percent excluding any currency impact.
The stock price of PepsiCo, Inc. (NYSE:PEP) is up by more than 3 percent to $78.56 per share on Friday around 11:34 AM in New York.