Posted on 05/31/2023 9:34:00 PM PDT by Morgana
Bud Light announced Tuesday that it is donating $200,000 to the National LGBT Chamber of Commerce in support of its Communities of Color Initiative, as the company continues to struggle in the wake of the Dylan Mulvaney scandal.
The once most-popular beer brand in America continues to hemorrhage market value in the wake of its April partnership with trans Dylan Mulvaney.
The partnership sparked protests and backlash and parent company Anheuser-Busch has shed $26 billion in value in mere months.
Bud Light's latest donation to the LGBTQ group is an extension of a partnership established last year between the company and the NGLCC, and a continuation of work Bud Light and parent company Anheuser-Busch have done with the LGBTQ community for years.
'This initiative is designed to support the growth and success of minority LGBTQ+-owned businesses through certification, scholarships and business development in an effort to create equal opportunities for the economic advancement of small businesses in the LGBTQ+ community,' read a release announcing the initiative.
'The brand will also be supporting NGLCC’s first-ever CoCi Biz Pitch program, where the winning minority LGBTQ+ business owner will receive $5,000 and have the chance to go on to compete at the 2023 NGLCC International Business & Leadership Conference LGBT Biz Pitch Competition for $50,000 in cash and prizes.'
Bud Light's parent company Anheuser-Busch has seen its market value plunge since the disastrous campaign with transgender-influencer Dylan Mulvaney.
Shares tanked Wednesday to a new eight-month low of $53. AB's overall sales have dipped by 10 percent compared to the same time last year.
Since April 1, the company has consistently been losing value, as experts say the situation 'just keeps getting a little worse each week'.
AB's competitors, however, have added $3.2billion in market value to their brands in the same time.
(Excerpt) Read more at dailymail.co.uk ...
“Boycotts have INSTANT repercussions”
Yes, but are they sustainable?
“They’ll rebrand it under something else and will come out just fine.”
This is a culture war.
They fight.
We fight.
There are good days and bad days....just how it is.
Boycotts don’t have to last forever.
Corporations don’t last forever.
Even the largest corporations can get hubris and fade away into the dustbin of history.
Gee I wonder where they got that idea.
Biden takes office everybody gets a $1200.00 check and a $600.00 credit card.
Pimp the poor to get more
A $200K donation? Although I don’t agree with the cause, ordinarily for a company that huge I’d say, “Gee, can you spare it?” But I guess this month they really can’t.
Made their bed. Now lie in it.
I have probably read it now once every 10 years or so, but everytime I do, I am impressed with how well written and approachable it is.
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