Anheuser-Busch lost $390 MILLION in the second quarter after Bud Light sales to retailers fell 14% after the brand partnered with transgender influencer Dylan Mulvaney
- Figures show US revenues fell 10.5% in April-June period
- In North America, the company lost $390 million year-over-year in the second quarter
- Anheuser-Busch blamed Bud Light’s ‘lower volumes’ for plunge
Anheuser-Busch lost $390 million in US sales after teaming up with transgender influencer Dylan Mulvaney.
The parent company blamed Bud Light’s “lower volumes” for lower second-quarter revenue.
The figures show that their income in the United States has fallen by 10.5% during the period from April to June compared to the previous year.
The world’s biggest brewer said on Thursday that sales to US retailers fell 14%, adding that they had “underperformed the industry”. It was a direct result of the link with Mulvaney.
In the second quarter of 2022, Anheuser Busch sold $2.73 billion worth of beer to retailers. But for the second quarter of 2023, sales fell to $2.35 billion, a drop of $390 million in one year.
Bud Light’s popularity has been on the decline since brewer Anheuser-Busch teamed up with 26-year-old Mulvaney and gave him a personalized can.
Anheuser-Busch lost $395 million in US sales after teaming up with transgender influencer Dylan Mulvaney in April
In a statement, the company attributed the drop in sales to the backlash it faced for partnering with Mulvaney, 26, and issuing him a one-of-a-kind can.