Is “misinformation” responsible for Bud Light and parent company Anheuser-Busch’s dire circumstances?
During Thursday’s earnings call with investors, Anheuser-Busch CEO Michel Doukeris surely gave the impression that he thought so.
According to Fox Business, while that earnings call covered the usual range of topics you’d expect to discuss with investors, Doukeris also addressed the transgender elephant in the room — the detrimental advertising campaign launched in collaboration with transgender influencer Dylan Mulvaney.
Working with Mulvaney has caused the Belgian brewing company and its once-popular Bud Light brand a multitude of problems.
Managers were placed on leave. Sales plummeted. The allure of celebrities plummeted. The loss of billions of dollars in market value.
And public sentiment plummeted like a bottle of Bud Light left uncovered for a week.
The campaign included a commemorative can and a video of Mulvaney imbibing the beer in the bathtub. According to Doukeris, however, this was not a “campaign.”
“We need to clarify the facts that this was one can, one influencer, one post and not a campaign,” Doukeris told investors, explaining why he felt that the brouhaha over this “campaign” was largely based on the “misinformation” that Bud Light and Mulvaney were working more closely than they actually were.
Despite Doukeris’s implied admission that working with Mulvaney has resulted in negative consequences, he emphasized that Anheuser-Busch is more than capable of rebounding from the Mulvaney backlash, noting that the company’s long-term outlook has not changed.
“We believe we have the experience, the resources and the partners to manage this. And our four-year growth outlook is unchanged,” Doukeris told investors.
Anheuser-Busch will work to alleviate the financial anguish and stress that the lack of Bud Light sales is causing delivery drivers, sales representatives, wholesalers, and bars, according to the beleaguered CEO. Doukeris stated that the organization would be “providing direct financial support” to all affected parties.
“We want to reiterate our support for our wholesaler partners and everyone who brings our great beers to the market,” Doukeris said. “I can tell you that we have the agility, resources and people to support the U.S. team and move forward.”
Doukeris cited the company’s success in navigating the COVID-19 pandemic, which resulted in the simultaneous closure of thousands of taverns and restaurants across the country.
It is important to note that, while the financial repercussions may be similar to the Mulvaney backlash, the two situations are very distinct.
More on this story via The Western Journal:
Nobody was blaming Bud Light for bar closures or anything of the sort. Bud Light was as blindsided as the rest of everyday Americans when the country shut down. CONTINUE READING…