Posted on 11/16/2023 11:47:12 AM PST by Morgana
The US chief marketing officer of Anheuser-Busch InBev is stepping down amid the company's continuing slump in sales, following Bud Light's disastrous collaboration with transgender influencer Dylan Mulvaney earlier in the year.
Benoit Garbe is set to leave his role at Bud Light's parent company at the end of the year, it was announced Wednesday, 'in order to embark on a new chapter in his career.'
Serving as the company's CMO for just over two years, his tenure was marred by an April marketing debacle where a Bud Light partnership with Mulvaney led to a boycott by the brand's customers and a significant loss in revenue.
In third quarter returns reported Tuesday, the summer slump continued as the company suffered a 13.5 percent drop in revenue per 100 liters, a key measure for beer sales.
The fallout from the Mulvaney partnership led to a devastating stint for Bud Light, where it suffered repeat double-digit revenue drops on a near-weekly basis.
Nationwide backlash to the company's marketing even led to some stores selling the beer for less than water, as the parent company lost a staggering $6 billion in market capital in just six days after the advertising.
Some fans also criticized the company's response to the controversy, where it was seen by some as over-compensating with overtly patriotic advertising to try and right the ship.
As the dip in revenue continued through the year, it has hurt the profits of Anheuser-Busch InBev, the world's largest brewer that produces a large number of beers including Budweiser, Michelob, and Stella Artois.
In August, just months after the Mulvaney advertising ran in April, it was reported that Anheuser-Busch InBev had suffered a staggering $390 million drop in US sales.
(Excerpt) Read more at dailymail.co.uk ...
Anheuser Busch is getting what it deserves from spitting in the faces of its customers and the. refusing to apologize and back down.
AB double-downed and committed financial suicide.
A lot need let go at AB “
They won’t do that for the same reason they refused to issue a real apology. It would be caving to the narrow minded Neanderthals who were offended by the creep on the can.
Stepping down?! He should have been booted out!
The response should have been a heartfelt apology within days, a public firing of both the marketing person accountable and Dylan. It would have all been over in 48 hours.
13.5% drop from the previous quarter or from the same quarter last year? If the latter, that means they’ve recovered some. If the former, ouch!
In August, just months after the Mulvaney advertising ran in April, it was reported that Anheuser-Busch InBev had suffered a staggering $390 million drop in US sales.
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Stunning that their share prices went from $52 at the end of October to $61 as of today.... I sure don’t get it.
They have a diversified portfolio of which Bud Light is a very small percentage and combined with the total and complete destruction of America by Biden, people are naturally drinking more.
Even in grade school, we learned when we were beaten to cry UNCLE.
>> InBev had suffered a staggering $390 million drop in US sales.
lol... staggering...
That’s an ironic piss in a bucket for a company that large.
How is this possible?
I saw Bud running a bunch of adds waving the American flag. Then I saw them partner with Harley Davidson and the MMA....
Sales still falling?
Its almost like their “fratty” non woke customer base didn’t fall for the aforementioned gimmicks to win them back.
But the dippy chick that called the customer base “fratty” still works there?
screw the wokers... is still drink Bud Light... have for years. wokers can suck what every or who ever... they suck
“But the dippy chick that called the customer base “fratty” still works there?”
No. She was gone in a matter of days after it happened. I think she said she wanted to spend time with her family.
I see that the current NFL football wall calendars in chain restaurants have either Corona or Modelo logos when they had Bud Light logos up until this season.
I also see, for the first time in decades, large Pabst Blue Ribbon signs in places that previously had Bud and Bud Light signs.
Bud Light is withering on the vine. No sense marketing a beer that is not popular. It was marketed greatly when it was #1. I see Modelo picking up marketing an PBR like you said. Soon they will have another number 1 Light Beer that will get all the marketing dollars. Bud Light will be like Mich Lite: These are the nine beers Americans no longer drink. Michelob Light. > Sales loss (2007-2012): 69.6% Budweiser Select. > Sales loss (2007-2012): 61.5% ... Milwaukee's Best Premium. > Sales loss (2007-2012): 58.5% ... Miller Genuine Draft. ... Old Milwaukee. ... Milwaukee's Best Light. ... Heineken Premium Light. ... Budweiser. ...
“Stepping down” is a business euphemism for “fired.” He was given the chance to “voluntarily’ step down probably to protect his golden parachute payoff.
a lot of democrat careers in the trash heap over this...NICE!
Whatever happened to the chick that started all this?
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