Turns out America's Beer Drinkers don't want to be associated with obnoxious perverts, who knew?
After reaching a three-year high of $66.73 per share, Bud Light parent company Anheuser Busch Inbev lost a staggering $6 billion in market capital in the first six days since announcing its partnership with 26-year-old transgender ‘influencer’ Dylan Mulvaney on April 2.
Bar owners and distributor have reported a sharp drop in Bud Light sales, tanking the share price and threatening the company itself, all in just one week.
The company’s market cap fell as low as $125.7 billion, down from $132.8 billion six days ago, a drop of more than five-percent.
Meanwhile competitor Molson Coors (TAP) saw $350 million added to its market cap over the last week.
Bud Light’s partnership with Mulvaney included custom cans featuring his face and pro-LGBTQ language to commemorate the biological male’s ‘being a woman’ for over a year. The ad campaign kicked off with naked Mulvaney drinking Bud Light in a bathtub.
Anheuser-Busch had issued a statement in support of Mulvaney, saying it “works with hundreds of influencers across our brands as one of many ways to authentically connect with audiences across various demographics,” but the Daily Wire reports that company executives had no idea about the ad campaign.
“No one at the senior level” of the company was aware of Bud Light’s polarizing partnership with Dylan Mulvaney, sources close to the situation claim. The company is also allegedly pausing its marketing efforts and scrambling to implement a more “robust” process for evaluating future influencer partnerships.
“No one at a senior level was aware this was happening,” said one source, who was granted anonymity to discuss sensitive internal discussions. “Some low-level marketing staffer who helps manage the hundreds of influencer engagements they do must have thought it was no big deal. Obviously it was, and it’s a shame because they have a well-earned reputation for just being America’s beer — not a political company. It was a mistake.”
A second source also claimed that a lower level employee had made the decision to include Mulvaney in the campaign, a move that appears to have cost the company $5 billion in market value. The backlash to the iconic American beer brand has been so intense that a Budweiser distributor in Missouri canceled an event with the company’s famous Clydesdale horses because everything was “still sensitive” over the matter. -Daily Wire
It appears that the company employ marketers that have no idea who their core customers are. Leaping on the WOKE bandwagon has proved the saying: Go Woke, Go Broke.