Anheuser-Busch lost a staggering $390 MILLION in second quarter after Bud Light’s sales to retailers plunged 14% after brand’s partnership with transgender influencer Dylan Mulvaney
- Figures show US revenue declined by 10.5 percent in the April-to-June period
- In North America the company lost $390million compared to last year in Q2
- Anheuser-Busch blamed the ‘volume decline’ of Bud Light for the plunge
Anheuser-Busch lost a whopping $390million in US sales after they partnered with transgender influencer Dylan Mulvaney.
The parent company blamed the ‘volume decline’ of Bud Light for the drop in revenue in their second quarter.
Figures show that their total US revenue declined by 10.5 percent in the April-to-June period from a year earlier.
The world’s largest brewer said Thursday that sales to US retailers plunged 14 percent, adding that they had been ‘underperforming the industry.’ This was a direct result of the tie-in with Mulvaney.
For the second quarter of 2022, Anheuser Busch sold $2.73 billion worth of beer to retailers. But for the second quarter of 2023, sales dropped to $2.35 billion – a slump of $390 million in a year.
Bud Light’s popularity has been dropping since brewer Anheuser-Busch teamed up with Mulvaney, 26, and gave her a personalized can.
Anheuser-Busch lost a whopping $395million in US sales after they partnered with transgender influencer Dylan Mulvaney in April
The top line from this part of the earnings report showed how sales to retailers slumped by $395 million between the second quarter of 2022 and the second quarter of 2023
In a statement, the company put the declining sales down to the backlash they faced for partnering with Mulvaney, 26, and issuing a one-of-a-kind can to her.
The can was gifted to Mulvaney to celebrate 365 days of ‘being a girl,’ the phrase she uses to describe her transition from male to female.
But it triggered outrage among drinkers, who accused Bud Light of trying to force progressive beliefs on them and their favorite brand.
The debate over transgender rights is the current hot-button issue in the United States.
Gender-critical feminists oppose letting transgender women into some female-only spaces, such as domestic violence shelters.
There is also widespread opposition to trans women competing against biological women in sports, over fears going through male puberty gives them an unfair advantage.
While Mulvaney has largely steered clear of these issues, her tie-up with Bud Light appeared to act as a lightning rod for people concerned about progressive ideologies, and gave them a direct means of hurting a brand that backed them.
Bud Light has also been dethroned as the top of the beverages by Modelo Especial – another Anheuser-Busch brand – taking more than $27billion in market value.
Dylan Mulvaney shared a series of promotional posts with Bud Light beer cans with her face on it to celebrate her ‘365 days of girlhood’ on April 1
Anheuser-Busch, the parent company of Bud Light, has seen its market cap value plummet $27 billion following a disastrous team-up with transgender influencer Dylan Mulvaney
The brand’s ousted marketing chief Alissa Heinerscheid, 39, said she planned to update the ‘fratty’ and ‘out of touch’ branding. VP for Mainstream Brands Daniel Blake, 34, also voluntarily took a leave of absence earlier this year following the controversy
Anheuser-Busch owns Modelo in countries outside of the states after an anti-trust settlement with the Department of Justice in 2013 over fears it would stifle competition.
It means that US sales of Modelo are controlled by rival Constellation Brands and do not count as part of AB InBev’s global volumes.
Modelo surpassed Bud Light’s $297 million – which was a 22.8 percent fall in sales compared to the same time last year. They reported an 11 percent increase in sales for the second quarter of this year.
It is the first time since 2001 that Bud Light has not been in the top spot, dethroning its sister brand Budweiser for the ‘King of Beer’ title in 2001.
Amongst the ongoing issues, Anheuser-Busch forced two of its top executives to take a ‘leave of absence’ following the major marketing blunder.
There were claims that both executives had finally been fired over the fiasco – something which the company deny.
VP of marketing Alissa Heinerscheid, 39, and VP for Mainstream Brands Daniel Blake, 34, both took a voluntary leave of absence following the backlash.
Modelo Especial store sales soared past $333 million in the four weeks ending May 28 – a 15.6 percent rise on the same period last year
The transgender TikTok star has been shrugging off criticism since she entered into a disastrous partnership with Bud Light to celebrate ‘365 Days of Girlhood’
But sources told the Daily Caller that both had been official fired following the announcement that they would be stepping back in April.
When approached by DailyMail.com earlier this month, a friend of Heinerscheid’s said ‘she’s not supposed to talk about it, she can’t.’
In a statement to DailyMail.com, a spokesperson for Anheuser-Busch said they were still both on a ‘leave of absence.’
Mulvaney only recently broke her silence on the fiasco and excoriated the troubled brand for not standing by her.
Speaking to her 1.8 million followers, she said: ‘was waiting for the brand to reach out to me, but they never did. I’ve been scared to leave my house.
‘For a company to hire a trans person and then not publicly stand by them is worse than not hiring a trans person at all.
‘I have been ridiculed in public I’ve been followed and I have felt a loneliness that I wouldn’t wish on anyone.’
After she went public with her criticism, Anheuser-Busch hit back in a statement to say they are ‘committed committed to the programs and partnerships’ they have forged with the LGBTQ+ community.
The company didn’t name Mulvaney directly, but their comments came immediately after she hit out at them for not being supportive of her and the trans community.
In the statement, they said: ‘The privacy and safety of our employees and our partners is always our top priority.
‘As we move forward, we will focus on what we do best – brewing great beer for everyone and earning our place in moments that matter to our consumers.’
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