Finally, unrelated diversification entails entry into a new industry that lacks important similarities with the company’s existing markets. Coca-Cola generally avoids risky adventures into unknown territories and can instead utilise its brand strength to continue growing within the drinks industry. That said, Coca-Cola offers official merchandise from pens and glasses to fridges, therefore exploiting its strong brand advocacy through this strategy.
A more comprehensive case study of unrelated diversification is explain in my article on Virgin’s frequent use of the strategy.