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Although the Coca-Cola company denies it (as do some historians), the general consensus is because they are the trademark colors of the company.

.........That, and I think the story,"The Night Before Christmas" mentions Santa wearing a red suit. Santa is basically a composite or Saint Nicholas of Myra (Turkey), "The Night Before Christmas", Coca-Cola & ancient pagan deities like Odin, Baldur & "The Holy King".

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Q: Why is it that a Coca-Cola advertisement in 1931 changed Father Christmas from being green to being red forever?
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