In conjunction with its 60th anniversary, PepsiCo – the conglomerate formed through the merger of Pepsi-Cola and Frito-Lay – has unveiled a new visual identity to “highlight the depth and diversity” of its portfolio that includes over 500 brands.
The company’s updated logo features a “P,” a nod to its heritage, shaped by surrounding symbols that “represent the values guiding [its] future”: consumer centricity, sustainability and great taste. Its color palette draws from the soils that nourish PepsiCo’s food and beverage products and the hues that reflect its commitment to people and the planet, according to the company.
Additionally, PepsiCo has adopted a new tagline, “Food. Drink. Smiles,” which serves as a visual cue that directly connects to its mission of “creating smiles with every sip and every bite.”
“Our refreshed corporate brand is a beautiful expression of both who we are as a company today and our aspiration[s] for the future – reflecting our wide portfolio of beloved food and drink brands,” said Jane Wakely, CMO of International Foods at PepsiCo, in a press release. “By putting smiles at the heart of our visual identity, we’re signaling our obsession with consumers, and that obsession fuels our growth.”
The company’s new look will be phased in over time across markets, channels and touchpoints, from food and beverage packaging to workplaces to signage, “linking our broad family of consumer brands with our corporate brand,” per the release. The rollout is expected to provide a significant consumer education opportunity, as only 21% of consumers can name a PepsiCo brand other than Pepsi.
The move comes as the food and beverage giant – alongside other Big Food companies – doubles down on its innovation efforts to compete with emerging brands. In its third-quarter earnings report last month, PepsiCo unveiled a slate of new product innovations that tap into hot trends like protein and fiber, including the relaunch of Muscle Milk (previewed at the company’s sprawling NACS booth), a line of Propel Protein Water and a collection of prebiotic cola that will compete with the recently-acquired Poppi brand.
Facing increased pressure from Health and Human Services (HHS) Secretary Robert F. Kennedy Jr. and the Make America Healthy Again (MAHA) movement, PepsiCo has also pledged to shift to natural dyes for core brands like Gatorade, Cheetos and Tostitos. Approximately 40% of the company’s portfolio currently contains synthetic dyes, as reported by NBC.
The food and beverage giant may be sporting a new look and touting trendy innovations and product updates, but its investors are pushing for real change. Last month, Elliot Investment Management – which holds a $4 billion stake in PepsiCo – sent a letter to PepsiCo’s board of directors outlining a five-point plan to address “poor operational results, sharp stock-price underperformance and a meaningfully discounted valuation.”
If enacted, the firm claims the changes could increase PepsiCo’s shares by at least 50% and restore organic revenue growth to mid-single digits.