Anheuser-Busch CEO Michel Doukeris was made to answer for the ongoing Bud Light boycott Thursday during an earnings call with investors, where he tried to distance himself from the beer brand’s partnership with trans influencer Dylan Mulvaney. Doukeris also addressed the company’s plummeting sales, which are currently down by 26 percent, and pledged to triple ad funding ahead of a major marketing push to regain its consumer base.
A letter to retailers this week attempted to minimize Anheuser-Busch’s partnership with Mulvaney, saying that the stunt was “not a campaign” but rather “just one can.”
“We need to clarify the facts that this was one can, one influencer, one post, and not a campaign,” Doukeris told investors, according to a report from Fox Business. The CEO reportedly tried to downplay Mulvaney’s involvement, saying that ” misinformation ” was being spread about the beer conglomerate’s woke publicity stunt.
Doukeris added that his company would provide ” direct financial support” to retailers and workers affected by the boycott, including delivery drivers, sales representatives, wholesalers, bar owners, and servers. The company also plans to triple its ad spending ahead of a major marketing push and to start giving away free beer to workers to repair their relationship with retailers.
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The Bud Light boycott is the most effective boycott conservatives have ever wielded against Woke America.
Sales down 26% compared to a year ago, Executives are being put on leave, and stores are marking Anheuser-Busch products down.
We should not let up until they actually…
— Benny Johnson (@bennyjohnson) May 2, 2023
Whether that will save the beer brand remains to be seen.
While stock prices for Anheuser-Busch have largely held steady since the controversy began, sales across the country are reportedly down 26 percent, according to the St. Louis Post Dispatch. Additionally, around $5 billion in market cap has been wiped out due to the boycott.
Total sales are down 8 percent for the year. Still, Doukeris remained optimistic on the call, promising investors that this summer’s advertising campaign will be enough to badger their customers into returning.
“We believe we have the experience, the resources, and the partners to manage this. And our four-year growth outlook is unchanged,” Doukeris said.
“We want to reiterate our support for our wholesaler partners and everyone who brings our great beers to the market. I can tell you that we have the agility, resources and people to support the U.S. team and move forward,
We will continue to learn, meet the moment in time, all be stronger and we work tirelessly to do what we do best: Bring people together over a beer and creating a future of more cheers.”
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No one is buying Bud Light at the Red Sox game pic.twitter.com/evTMApnYGx
— Citizen Free Press (@CitizenFreePres) May 4, 2023
However, conservatives have not indicated that they will lighten up as retailers continue to struggle, with many resorting to heavy markdowns and giveaways to get the trans beer off their shelves.
According to the Daily Mail, the former chief creative officer of the company spoke more bluntly about the company’s situation recently, labeling the decision to commemorate Dylan Mulvaney’s ‘365 Days of Girlhood’ a “calamitous mistake.”
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