Dive Brief:
- Once the U.S. embargo is lifted in Cuba, brands will be entering a market that has been closed to the them for more than 50 years.
- Certain companies, however, already had a presence in Cuba before the embargo was enacted, including car brands that still run on the island—Ford, Chevy, and Buicks—and brands that were once sold and produced in Cuba—like Gillette, Coca-Cola, and Colgate.
- Despite the lack of trade, younger brands like Nike, Juicy Couture, and Calvin Klein have gained name recognition because of Cubans' access to American TV and movies.
Dive Insight:
Although it will be a while before the embargo is completely lifted, certain brands could benefit from the new Cuban market. Regardless, it will be beneficial for all brands to watch how U.S. marketing unfolds in the new territory. The two country's economies are quite different, so it's a bit of a guessing game as to which companies will have the most success.