Pepsi has pulled its controversial Kendall Jenner ad with an astonishing admission.

Just one day after soft drink company Pepsi released it’s new ad featuring ‘girl of the moment’ Kendall Jenner, it’s been pulled.

The ad drew widespread criticism after it appeared to trivialise the Black Lives Matter movement.

The advertisement features black, white, transgender, gay and Muslim people marching in an ambiguous protest, holding signs printed with messages like "join the conversation" and "love".

Jenner, who is wearing a blonde wig and is working on a photo shoot in the ad, then decides to cast off her 'costume' and join in on the protest.

The protesters are smiling, dancing and having fun, and the ad ends with Jenner handing a police officer a can of Pepsi.

The police officer smiles. The protesters cheers. Everything is right again in the world, thanks to Pepsi... Except it really isn't at all.

The ad drew instant criticism from many powerful voices, including Bernice King, the daughter of Martin Luther King Jr and Coretta Scott King.

If only Daddy would have known about the power of #Pepsi. pic.twitter.com/FA6JPrY72V

— Be A King (@BerniceKing) April 5, 2017

Despite initially defending their new ad, arguing that it "captures the spirit and actions of those people that jump in to every moment", the company has now changed it's tune with a rare admission.

"Pepsi was trying to project a global message of unity, peace and understanding," a statement posted to the brand's Twitter account said.

pic.twitter.com/I21nQl68cY

— Pepsi™ (@pepsi) April 5, 2017

"Clearly we missed the mark, and we apologise.

"We did not intend to make light of any serious issue. We are removing the content and halting any further rollout. We also apologise for putting Kendall Jenner in this position."

Kendall Jenner is yet to respond to the controversy, however she has deleted the tweets she posted about the ad before the backlash started.

What do you think about the ad? Tell us in the comments below!