(Yicai Global) Jan. 4 -- Chinese dairy giant Mengniu Dairy Co. [HKG:2319] has teamed up with FIFA to become an official sponsor of the 2018 World Cup in Russia as it looks to expand overseas.
The Inner Mongolia-based firm hasn’t disclosed the value of the deal, but said it will front CNY2 billion (USD303 million) to promote the global soccer contest. Consumers from around the world will be able to taste the firm’s 27 products, which include milks, yogurts, ice creams and milk powders, during the event.
Mengniu sells to six overseas markets, its Chief Executive Jeffrey Lu said, adding that with the help of the World Cup, it will be able to internationalize faster.
A number of Chinese companies have turned to overseas marketing platforms, such as sporting events, to enhance their image abroad. Appliance maker Hisense Electric Co. [SHA:600060] and smartphone brand Vivo signed up to sponsor the next World Cup in April and May this year.
Last year, commercial real estate giant Dalian Wanda Group Co. partnered up with FIFA at the highest level, in a deal that will see the pair working together during the next four World Cups.