Bud Light Struggles In Wake Of Boycott
Bud Light, which was recently dethroned as the number-one selling beer in the United States, revealed investment to stave off layoffs due to the ongoing boycott against the brand.
According to the company’s CEO Brendan Whitworth, the company was planning a tour across the country to attempt to repair its damaged brand image. According to the executive, the company is recalibrating its approach.
“We are a beer company, and beer is for everyone,” he said.
The company would invest “to protect the jobs of our frontline employees.”
Whitworth said that Bud Light was “providing financial assistance” to independent wholesalers “to help them support their employees.”
The company is sponsoring an “all-ages Pride event” in Flagstaff, Arizona. The “Pride of the Pines” event would include a number of performances and was deemed as a “family festival event.”
Bud Light recently lost its crown as the best-selling beer in the country to Modelo Especial. Modelo increased its sales to $333 million through most of May, while Bud Light trailed with just under $300 million.
BREAKING: Modelo Especial surpasses Bud Light to become America's top-selling Beer 🍺 pic.twitter.com/5tMZ5nzsaF
— Daily Loud (@DailyLoud) June 15, 2023
The beer brand’s struggles stem from an April announcement of a partnership with transgender influencer Dylan Mulvaney. The decision was met with a sharp reaction from many conservative consumers.
Bud Light’s decision to drop the Mulvaney partnership also led to a reaction from different LGBT groups and gay bars. A number of Chicago-area gay bars announced that they would be dropping the beverage.
“We simply removed the products because we believe that in order to be a vendor to us and sell your products in our establishments, you cannot be hostile toward any part of our community,” said the co-owner of a bar chain.
The current boycott is continuing into the summer, which is traditionally the best-selling season for beer, and shows no signs of letting up. The consumer backlash also affected other brands owned by Bud Light’s parent company, Anheuser-Busch, including Budweiser.
Furthermore, Anheuser-Busch InBev’s stock fell significantly following the start of the boycott. One estimate from earlier this month estimated that the corporation lost $27 billion in stock value due to the situation following the Mulvaney announcement.