The fizz the couldn't last ... Pepsi goes flat in Latin America

PepsiCo. Inc. sustained major losses in its bid to conquer the Latin American market in 1992. As of the 3rd qtr. of 1996, the company had lost $176 million in its international beverage business. Their failure is attributed to a number of factors which include the effects of the Mexican peso crisis, adoption of a go-for-broke strategy in entering the market and failure to consider the unique characteristics of Latin American consumers.
Mexico 1992. The international media was showering praise on President Carlos Salinas de Gortari for bringing his nation out of the Third World, and big business was raising champagne glasses [...]