Pepsi

Pepsi is an American cola brand and the flagship carbonated soft drink of PepsiCo. Its origins are associated with Caleb D. Bradham, a pharmacist who sold a fountain beverage called Brad’s Drink at his drugstore in New Bern, North Carolina, beginning in 1893. Bradham renamed the beverage Pepsi-Cola in 1898. The name reflected the drink’s early positioning around refreshment and digestion, although modern Pepsi is marketed as a mainstream soft drink rather than a medicinal product. The early business operated through drugstore soda fountains, syrup sales and independent bottlers. Pepsi-Cola Company was incorporated in 1902, but the brand suffered severe financial difficulties during the early twentieth century. It entered bankruptcy in 1923 after losses associated with volatile sugar prices, and its assets and trademark subsequently passed through new ownership. Charles Guth, then associated with Loft, Inc., acquired Pepsi’s assets and had the syrup reformulated. Pepsi’s recovery was accelerated during the Great Depression by the introduction of a 12-ounce bottle priced at the same five cents commonly charged for a smaller Coca-Cola bottle. The “Nickel, Nickel” advertising campaign presented Pepsi as a value proposition and helped substantially increase sales. During the middle decades of the twentieth century, Pepsi expanded bottling capacity, modernized packaging and developed increasingly sophisticated mass advertising. The brand became more competitive with Coca-Cola under executives including Alfred Steele and Donald M. Kendall. Pepsi also pursued advertising directed toward African American consumers at a time when that market was often neglected by major advertisers. By the 1960s, the brand had adopted a strongly youth-oriented identity through “Pepsi Generation” advertising, entertainment partnerships and celebrity endorsements. A decisive corporate turning point came in 1965, when Pepsi-Cola Company merged with Frito-Lay to form PepsiCo. Pepsi remained a beverage brand rather than becoming a separately listed company, but it gained the distribution, marketing and financial resources of a diversified food-and-drink group. Its rivalry with Coca-Cola became known as the “cola wars.” The Pepsi Challenge, introduced in 1975, used blind taste comparisons to encourage consumers to compare Pepsi with Coca-Cola directly. The campaign strengthened Pepsi’s challenger positioning and became one of the most recognizable comparative-marketing programs in consumer-brand history. Pepsi also pursued international expansion. In 1974 it became one of the first American consumer products to be produced, marketed and sold in the Soviet Union through a notable barter arrangement involving Pepsi concentrate and Soviet-produced vodka. Elsewhere, the brand’s performance varied by market, with local bottling structures, regulations, flavor preferences and competing soft drinks shaping its position. The portfolio later expanded beyond the original cola. Major extensions include Diet Pepsi, introduced in 1964; caffeine-free versions; Pepsi Max in selected international markets; Pepsi Zero Sugar; and flavored products such as Pepsi Wild Cherry and Pepsi Twist. Pepsi has also tested limited editions, regional formulations and products positioned around reduced sugar or added functionality. Reformulations in some markets during the 2020s reduced sugar and used high-intensity sweeteners in response to health concerns, sugar taxes and changing consumer preferences. Marketing has remained central to the brand. Pepsi has used radio, television, film, music, professional sports, the Super Bowl and high-profile celebrity partnerships to maintain cultural visibility. It has also experienced serious marketing controversies, including the cancellation of a 1989 Madonna campaign, the 1992 Pepsi Number Fever promotion in the Philippines and the withdrawal of a 2017 advertisement featuring Kendall Jenner after criticism that it trivialized protest and ci…

Pepsi began as Brad’s Drink, a soda-fountain beverage created by pharmacist Caleb D. Bradham in New Bern, North Carolina, in 1893. Bradham renamed it Pepsi-Cola in 1898 and incorporated the Pepsi-Cola Company in 1902. Early distribution relied on syrup sales and independent bottlers, while the brand’s advertising emphasized refreshment and purported digestive benefits that reflected the marketing language of the period. Financial instability disrupted the early business. Pepsi entered bankruptcy in 1923 after sugar-price speculation and was later acquired by Charles Guth, whose business interests included Loft candy stores and soda fountains. Guth used Pepsi as an alternative to Coca-Cola syrup and commissioned a reformulation. The brand’s recovery during the Great Depression was closely associated with its 12-ounce bottle, which offered substantially more drink for the same nickel price commonly charged for a smaller competitor bottle. The “Nickel, Nickel” radio jingle converted that price comparison into a widely remembered advertising idea. Pepsi’s national and international bottling network grew during the following decades. The brand changed from a value-oriented image toward quality and mass popularity under Alfred Steele and later Donald Kendall. It also became notable for marketing to African American consumers and for using entertainment personalities to support a more inclusive and youthful image. Pepsi-Cola shortened its public-facing name to Pepsi during the mid-twentieth century, while its packaging and globe emblem underwent repeated redesigns. The 1965 merger with Frito-Lay created PepsiCo. This gave the beverage business a close relationship with a major snack-food operation and established the corporate structure that still owns Pepsi. During the 1960s and 1970s, “Pepsi Generation” advertising and the Pepsi Challenge helped turn competition with Coca-Cola into a durable cultural narrative. Pepsi’s international growth included a landmark Soviet arrangement beginning in the 1970s, as well as expansion through bottlers and distributors across numerous regions. From the 1960s onward, PepsiCo developed a broader brand portfolio. Diet Pepsi launched in 1964, followed by caffeine-free, cherry, lemon and other regional or limited-edition products. Pepsi Max became important in several non-U.S. markets, while Pepsi Zero Sugar became a major contemporary zero-calorie line. Formulations have differed by country, and many markets reduced sugar or introduced sweetener blends during the 2020s in response to health policy, taxation and consumer demand. Pepsi’s later history has been shaped by global entertainment and sports marketing as well as periodic reputational setbacks. Campaigns tied to Madonna, Pepsi Number Fever and Kendall Jenner generated significant controversy, but the brand continued to invest in music, film, celebrity, sporting events and major television moments. Its 2023 identity redesign marked a deliberate attempt to connect heritage assets with digital media and younger consumers. The 2025 Pepsi Prebiotic Cola launch represented another effort to extend the brand beyond conventional full-sugar cola while retaining its established name and flavor category.

1. 2025Pepsi Prebiotic Cola is announced

   PepsiCo launches a prebiotic-fiber cola proposition in original and Cherry Vanilla variants.

   Source
2. 2023Global visual identity is redesigned

   Pepsi unveils a new identity for its 125th anniversary, including a redesigned globe logo and updated typography.

   Source
3. 1992Pepsi Number Fever controversy

   A Philippines bottle-cap promotion distributes an erroneous large number of winning caps and triggers severe public unrest.

   Source
4. 1989Madonna campaign is withdrawn

   A campaign connected with Madonna is cancelled after controversy surrounding religious imagery.

   Source
5. 1975The Pepsi Challenge begins

   Blind taste tests compare Pepsi with Coca-Cola and reinforce Pepsi’s challenger positioning.

   Source
6. 1965PepsiCo is formed

   Pepsi-Cola Company merges with Frito-Lay, creating PepsiCo.

   Source
7. 1964Diet Pepsi launches

   Diet Pepsi becomes the first major extension of the Pepsi brand and establishes its reduced-calorie portfolio.

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8. 1934The 12-ounce bottle is introduced

   Pepsi gains a value advantage during the Great Depression by selling a larger bottle for the prevailing five-cent price.

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9. 1923Pepsi-Cola enters bankruptcy

   The company fails financially after losses associated with sugar-price volatility during and after the First World War.

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10. 1902Pepsi-Cola Company is incorporated

    Bradham incorporates the Pepsi-Cola Company as the brand moves beyond its original drugstore setting.

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11. 1898The beverage is renamed Pepsi-Cola

    Bradham changes the beverage’s name from Brad’s Drink to Pepsi-Cola.

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12. 1893Brad’s Drink is created

    Caleb D. Bradham begins selling a soda-fountain beverage known as Brad’s Drink at his drugstore in New Bern, North Carolina.

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A bold, youthful and culturally active challenger cola brand, combining mass-market refreshment with reduced-sugar, zero-sugar, flavored and functional variants.

• PepsiCola1898

  The original Pepsi cola and the brand’s principal flagship product. It is sold in cans, bottles, fountain formats and market-specific package sizes. Formula, sweetener system and nutrition profile vary by country.

• Diet PepsiZero-sugar cola1964

  A long-running reduced-calorie Pepsi line introduced in 1964. It provides a sugar-free alternative to the original cola and is marketed in multiple package formats and, in some markets, regional flavor variants.

• Pepsi Zero SugarZero-sugar cola

  A zero-sugar, zero-calorie cola positioned around a fuller Pepsi taste. Naming and formula vary between markets, where related products may be sold as Pepsi Max or under other localized names.

• Pepsi Wild CherryFlavored cola1988

  A cherry-flavored extension of Pepsi available in regular and zero-sugar forms in selected markets. It gives the brand a fruit-flavor platform and has been used in youth-oriented and entertainment-led marketing.

• Caffeine-Free PepsiSpecialty cola1982

  A Pepsi formulation made without caffeine for consumers seeking the brand’s cola flavor without the stimulant. Availability and packaging depend on market demand and local distribution.

• Pepsi Prebiotic ColaFunctional cola2025

  A lower-sugar cola containing prebiotic fiber, announced in 2025 in original and Cherry Vanilla variants. PepsiCo described the product as containing 5 grams of sugar, 30 calories and 3 grams of prebiotic fiber per serving.

• 2024Get Wild

  United States

  A campaign for Pepsi Wild Cherry encouraged consumers to embrace unconventional, playful aspects of adult life.

  Outcome. Supported the cultural positioning of the Wild Cherry flavor platform among younger adults.

  Source
• 2023125th Anniversary Campaign

  Global

  A multi-month anniversary program connected historic Pepsi advertising and cultural moments with the brand’s new visual identity.

  Outcome. Supported the global rollout of the redesigned logo and refreshed heritage narrative.

  Source
• 1996Pepsi Stuff

  United States

  A promotional program allowed consumers to collect points from Pepsi products and exchange them for branded merchandise and experiences.

  Outcome. Became one of Pepsi’s most commercially prominent loyalty and promotional campaigns.

  Source
• 1975Pepsi Challenge

  United States · Canada · International markets

  Consumers were invited to participate in blind taste comparisons between Pepsi and Coca-Cola without seeing the brand identities.

  Outcome. Strengthened Pepsi’s direct challenger narrative and became a signature comparative-marketing platform.

  Source
• 1963Pepsi Generation

  United States · International markets

  Advertising centered on younger consumers and presented Pepsi as a modern, energetic drink associated with a new generation.

  Outcome. Created the foundation for Pepsi’s long-running youth and popular-culture positioning.

  Source
• 1940Nickel, Nickel

  United States

  A radio campaign used a looping jingle to emphasize that Pepsi offered 12 ounces for the same five-cent price associated with smaller competitor servings.

  Outcome. Helped establish Pepsi as a value-oriented choice during the Great Depression.

  Source

• 2025Launch Pepsi Prebiotic ColaProduct launch

  Interest in lower-sugar products and functional ingredients created an opportunity to extend the traditional cola category.

  What changed. PepsiCo introduced Pepsi Prebiotic Cola in original and Cherry Vanilla variants, with 5 grams of sugar, 30 calories and 3 grams of prebiotic fiber per serving according to its announcement.

  Aftermath. The launch broadened Pepsi’s proposition beyond conventional full-sugar and zero-sugar cola formats.

  Source
• 2023Refresh the global visual identityGeneration change

  For its 125th anniversary, Pepsi sought to preserve recognition of its globe symbol while making the identity work more effectively across digital and physical environments.

  What changed. Pepsi introduced a new globe logo, custom typography, electric blue and black color usage, and applications spanning packaging, equipment, retail and digital media.

  Aftermath. The redesigned identity began rolling out in North America in 2023 and in additional international markets during 2024.

  Source
• 1975Deploy the Pepsi ChallengeOther

  Pepsi needed a distinctive way to compete with Coca-Cola and challenge the incumbent’s perceived market leadership.

  What changed. The brand used blind taste tests to invite consumers to compare Pepsi and Coca-Cola directly.

  Aftermath. The campaign became a durable part of the cola wars and a central expression of Pepsi’s challenger identity.

  Source
• 1965Merge with Frito-LayM&A

  Pepsi-Cola sought a stronger corporate platform and broader distribution capabilities as the beverage business competed with Coca-Cola.

  What changed. Pepsi-Cola Company merged with Frito-Lay to form PepsiCo.

  Aftermath. Pepsi became the flagship beverage brand within a diversified food-and-drink group and was no longer operated as an independent listed company.

  Source

• 2017Kendall Jenner protest advertisementControversy

  An advertisement depicting Kendall Jenner handing a Pepsi to a police officer during a protest was criticized for trivializing civil-rights demonstrations and social injustice. Pepsi withdrew the advertisement and apologized.

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• 1992Pepsi Number FeverControversy

  A promotional printing error in the Philippines produced a large number of bottle caps carrying the top prize number. The resulting dispute caused public disorder, lawsuits and deaths, making the promotion one of the brand’s most serious historical controversies.

  Source
• 1989Madonna advertising controversyControversy

  Pepsi cancelled a high-profile campaign associated with Madonna after criticism of religious themes in the artist’s “Like a Prayer” video created reputational pressure around the sponsorship.

  Source

• 2025PepsiCo announces Pepsi Prebiotic Cola

  PepsiCo announced a cola containing prebiotic fiber, with original and Cherry Vanilla variants, extending Pepsi into a lower-sugar functional-beverage proposition.

  Product launch
  Source
• 2025Pepsi launched a new global chapter of “Thirsty for More” with David Beckham

  PepsiCo announced a global campaign led by David Beckham, extending the “Thirsty for More” platform around the idea that enjoyment is worthwhile when people genuinely love an experience.

  Campaign
  Source
• 2025PepsiCo entered an agreement to acquire poppi

  PepsiCo announced an agreement to acquire poppi, a prebiotic soda brand, as part of a broader effort to expand its beverage portfolio toward functional and wellness-oriented products. The transaction was reported at $1.95 billion, including anticipated tax benefits and possible earnout consideration.

  M&A
  Source
• 2025PepsiCo completes acquisition of poppi

  PepsiCo announced that it had closed its acquisition of prebiotic soda brand poppi, expanding its beverage portfolio beyond traditional carbonated soft drinks.

  M&A
  Source
• 2025Pepsi revives food-pairing version of Share a Pepsi

  Pepsi introduced limited-edition packaging and advertising built around pairing the drink with foods such as burgers, pizza, tacos and wings, while contrasting the concept with Coca-Cola’s Share a Coke platform.

  CampaignProduct launch
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• 2025PepsiCo announces acquisition of prebiotic soda brand Poppi

  PepsiCo announced an agreement to acquire Poppi, a US prebiotic soda brand, as part of an effort to participate in the fast-growing better-for-you soda category.

  M&A
  Source
• 2024Reuters fact-check: PepsiCo continued operating in Egypt

  Reuters reported that claims saying PepsiCo, the producer of Pepsi and Chipsy, had stopped operating in Egypt because of boycott pressure were false; the company confirmed that it continued operating in the country.

  Other
  Source
• 2024Reuters fact-check: Pepsi packaging image predates the Israel–Hamas war

  Reuters found that an image of Pepsi packaging carrying the word Palestine was an older image circulated with a misleading claim that it represented a newly released package.

  Other
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• 2023Pepsi introduces a new global visual identity

  For its 125th anniversary, Pepsi introduced a new logo, type treatment and visual system combining the Pepsi globe with electric blue, black and digital-first applications.

  OtherCampaign
  Source
• 2023Pepsi unveils updated visual identity

  Pepsi introduced a refreshed logo and visual identity as part of a global brand update, including a redesigned globe mark and stronger use of black in packaging and communications.

  Product generationCampaign
  Source
• 2023PepsiCo announces expansion of Pepsi Zero Sugar

  PepsiCo promoted Pepsi Zero Sugar through a broader product and marketing refresh, including updated packaging and a new formula in the United States.

  Product launchProduct generation
  Source
• 2022PepsiCo suspended sales of Pepsi and selected beverage brands in Russia

  PepsiCo suspended sales of Pepsi, Mirinda, and 7UP in Russia and subsequently reconfigured parts of its local product assortment.

  Regulation
  Source
• 2018PepsiCo agreed to acquire SodaStream

  PepsiCo announced an agreement to acquire SodaStream, expanding its presence in at-home beverage preparation and reusable carbonation systems.

  M&A
  Source
• 2018Pepsi launches the global Love It. Live It. Football campaign

  Pepsi introduced a global football campaign combining celebrity footballers, street participation, music, photography, and commissioned visual art. The campaign was planned for distribution in more than 60 markets and featured Lionel Messi, Marcelo, Toni Kroos, Carli Lloyd, and Dele Alli.

  CampaignOther
  Source
• 2018PepsiCo acquires SodaStream

  PepsiCo acquired SodaStream, broadening its beverage platform into at-home carbonation and giving the parent company another route beyond conventional packaged soft drinks.

  M&A
  Source
• 2017PepsiCo appoints Ramon Laguarta as president during succession preparation

  PepsiCo appointed Ramon Laguarta to the corporate president role, expanding his responsibilities across operations, strategy, public policy, government affairs, and the company foundation. The move was reported as part of a broader effort to develop internal succession candidates.

  Leadership change
  Source
• 2010PepsiCo completed the acquisition of its two largest North American bottlers

  PepsiCo completed the roughly $7.8 billion acquisitions of Pepsi Bottling Group and PepsiAmericas, consolidating much of its North American beverage manufacturing, sales and distribution system.

  M&A
  Source
• 2005PepsiCo becomes the larger company by market capitalization in a reported 2005 comparison

  A contemporaneous report said PepsiCo's market capitalization briefly exceeded Coca-Cola's, attributing the shift partly to PepsiCo's diversified portfolio and acquisitions. The comparison concerned the parent companies rather than the Pepsi brand alone.

  Other
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• 2001PepsiCo expands its non-carbonated beverage portfolio through Quaker acquisition

  PepsiCo's acquisition of Quaker brought Gatorade into the group, strengthening the broader beverage portfolio in sports and non-carbonated drinks.

  M&A
  Source
• 1997PepsiCo separates its restaurant businesses

  PepsiCo spun off its Pizza Hut, KFC and Taco Bell restaurant operations into an independent company, later known as Yum! Brands, to concentrate on food and beverage brands.

  M&A
  Source
• 1974Pepsi enters the Soviet market

  Pepsi became an early American consumer product to be produced, marketed and sold in the Soviet Union through a barter-based commercial arrangement.

  Other
  Source
• 1965Pepsi-Cola merges with Frito-Lay to create PepsiCo

  The merger created PepsiCo and placed Pepsi within a diversified food-and-beverage group.

  M&A
  Source
• 1965Pepsi-Cola and Frito-Lay merge to create PepsiCo

  The merger placed Pepsi within a diversified food-and-beverage group and established the corporate structure that owns the brand today.

  M&A
  Source
• 1931Charles G. Guth acquires Pepsi-Cola interests

  Pepsi-Cola was acquired by Charles G. Guth of Loft Candy Company, enabling the brand to return to the market and rebuild its distribution.

  M&A
  Source
• 1923Pepsi-Cola Company enters bankruptcy

  The Pepsi-Cola business entered bankruptcy after financial losses linked in part to volatile sugar prices. Its assets and trademark were later acquired and the brand was revived under new ownership.

  Bankruptcy
  Source
• 1923Pepsi-Cola brand emerges from the bankruptcy of its original company

  The original Pepsi-Cola business entered bankruptcy after financial difficulties associated with sugar-price speculation.

  Bankruptcy
  Source

1. Pepsi
2. When was Pepsi-Cola invented and how did it get its name?
3. Pepsi corporate FAQ
4. Pepsi history
5. Pepsi unveils a new logo and visual identity
6. Pepsi celebrates its 125th anniversary
7. Pepsi Wild Cherry asks consumers to celebrate their wild side
8. PepsiCo launches first-ever prebiotic cola
9. Pepsi pulls Kendall Jenner ad after social-media backlash
10. Pepsi Number Fever controversy
11. Pepsi withdraws Kendall Jenner advertisement after backlash
12. Pepsi launched a new global chapter of “Thirsty for More” with David Beckham
13. PepsiCo entered an agreement to acquire poppi
14. PepsiCo completes acquisition of poppi
15. Pepsi revives food-pairing version of Share a Pepsi
16. PepsiCo announces acquisition of prebiotic soda brand Poppi
17. Reuters fact-check: PepsiCo continued operating in Egypt
18. Reuters fact-check: Pepsi packaging image predates the Israel–Hamas war
19. Pepsi unveils updated visual identity
20. PepsiCo announces expansion of Pepsi Zero Sugar
21. PepsiCo suspended sales of Pepsi and selected beverage brands in Russia
22. PepsiCo agreed to acquire SodaStream
23. Pepsi launches the global Love It. Live It. Football campaign
24. PepsiCo acquires SodaStream
25. PepsiCo appoints Ramon Laguarta as president during succession preparation
26. PepsiCo completed the acquisition of its two largest North American bottlers
27. PepsiCo becomes the larger company by market capitalization in a reported 2005 comparison
28. Charles G. Guth acquires Pepsi-Cola interests
29. Pepsi-Cola brand emerges from the bankruptcy of its original company