Budweiser brewer Anheuser-Busch InBev has lost as much as $27 billion in market value following a successful tie-up with Dylan Mulvaney, most recently after shares fell 4% this week.
AB InBev’s market value fell to $107.44 billion at the end of May, according to Dow Jones Market Data Group, $27 billion below the company’s market value of $134.55 billion on March 31, while the Mulvaney partnership took effect. the day before. Dow Jones Market Data Group.
May was the third-worst month on record for the company’s stock.
As the boycott continues, the stock is headed for an official bear market — down 20%.
Anheuser-Busch InBev shares closed at $54.85 on Friday, up 1.9%
That’s down 4% from Friday’s closing price and down 18% from the $66.73 the brewer posted on March 31.
AB In Bev has been contacted for comment on this post.
The beer’s parent company, Anheuser-Busch, lost $27 billion in market value following Bud Light’s disastrous collaboration with Dylan Mulvaney.Anheuser-Busch lost $27 billion in value after Bud Light’s disastrous collaboration with Dylan Mulvaney.
The now-infamous promo for Bud Light, starring 26-year-old Mulvaney, was released on April 1, when the transgender social media star shared a photo of a personalized beer can as the brand celebrates her “girlhood” 365 days” to her.
The post, shared with Mulvaney’s millions of Instagram followers, sparked a nationwide boycott of Bud Light and other beers in Anheuser-Busch’s portfolio, including Budweiser and Michelob Ultra, sending sales plummeting for six straight weeks .
Sales of Bud Light, the No. 1 beer in the U.S., fell 25.7 percent last week after falling 24.6 percent the week before, according to the Post.
Target shares lose $13.8 billion, sink to lowest level since 2020 on boycott
Sales of the country’s No. 3 beer, Michelob Ultra, fell 2.9% year-over-year in the week ended May 13, matching a decline in the previous week, according to a Bump Williams analysis of NielsenIQ data.
Sales of Budweiser, the seventh-largest beer with more than $1.8 billion in sales last year, have fallen 9.7% each week for the past two weeks.
Anheuser-Busch has worked hard to rebuild its brand since the boycott began, offering discounts in honor of Memorial Day weekend, giving away free 15-packs of Bud Light and Budweiser and buying back expired unsold beers Cases have been gathering dust on liquor store shelves following their disastrous partnership.
Bud Light customers were once again in the spotlight when conservative social media commentators called out Bud Light as a sponsor of the Cincinnati Pride parade last week.
A look at the list of sponsors on the event website reveals that the Anheuser-Busch brand is the namesake of the annual event, which will take place on June 24.
The side image shows an iridescent bottle of Bud Light next to a mug of beer with the caption “Together in Pride”.
Meanwhile, Bud Light’s marketing executive tied to the Mulvaney partnership declined to comment on the controversial marketing deal.
What they do?
To rebrand, Anheuser-Busch offered steep discounts and bought back unsold cases at liquor stores.
Alissa Heinerscheid, 39, declined to speak when asked to comment on Mulvaney’s promo, before her friend chimed in to say “don’t talk about it.”
Heinerscheid left Bud Light when the brand started losing billions on partnerships. Mulvaney disguised herself as Holly Golightly for a March Madness ad, then took a bubble bath in April.
It is unclear whether Heinerscheid has returned to work or is still on leave.