Well actually he already has...
The New Statesman has an interesting item in the current publication on the origins of Christmas traditions, one of which reveals that Father Christmas didn't wear red and white until the 1930s.
It was then that the marketing people at Coca Cola decided to use this character in their advertising, and so dressed him in their corporate colours of, yes you've guessed it, red and white.
Fascinating - can anybody think of any other good examples where traditions have been established from such overtly commercial origins...

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