Pepsi has unveiled its new logo developed by Omnicom's Arnell Group. Ad Age estimated the new design cost around $1M before the larger tab to replace the old signage comes in much larger.

Said Pepsi's VP of portfolio brands, Frank Cooper:
"We felt like, as we move out of this traditional mass marketing and mass distribution era into today's culture, there's an opportunity to bring humanity back, both in terms of the design but also in the way we engage consumers," he said. "By making the logo more dynamic and more alive ... [it is] absolutely a huge step in the right direction."

It certainly has a familiar look to it...