PEPSI - Rebrand Failure?

Has anybody seen the latest rebrand for Pepsi? I absolutely hate the new branding which is done in a minimilistic style with light typography. The new look is incredibly poor. The style reminds me of a superstore brand, rather than a billion dollar enterprise. I cannot understand why they have made such drastic changes. The old style had character with a solid typography which gave the feel of a confident brand. The style now, strikes me as being more suitable to yoga lovers who like all things slim. Due to the minimalistic look, it doesn't even look American anymore, which to my mind, strips the PEPSI brand of its identity. Time will tell if whether this 1.2bn rebranding has worked.

Old Pepsi Brand



New Pepsi Brand