Immediately after the controversial transgender influencer Dylan Mulvaney announced his collaboration with Bud Light, the beer giant began paying the consequences.
Not only is Bud Light no longer America’s favorite beer, but Bud Light’s parent company, AB-InBev, is also witnessing a major collapse in value.
And Bud Light’s former boss is at a loss for words over the beer giant’s “woke” campaigns.
Bud Light is a prime example of the danger of going “woke” in corporate America
Last April, the beer giant Bud Light stepped on a hornet’s nest after it was revealed that they were partnering with controversial drag queen Dylan Mulvaney.
Not only has Bud Light lost its spot as America’s top beer, but the brand has faced irreparable harm to its image, causing significant financial losses for their parent company, AB InBev.
Just last Monday, former Anheuser-Busch executive Anson Frericks went on Fox Business’s program “The Claman Countdown” to discuss the downfall of Bud Light.
Frericks said, “I think I’m even more shocked, though, about the lack of clear response that the current CEO has delivered during this crisis.”
He is responding to a statement Anheuser-Bush CEO Brendan Whitworth released in June, saying, “There’s a big social conversation taking place right now, and big brands are right in the middle of it, and it’s not just our industry or Bud Light. It’s happening in retail, happening in fast food. And so for us what we need to understand is — deeply understand and appreciate — is the consumer and what they want, what they care about and what they expect from big brands.”
Frericks claimed that he disagreed with this approach, saying that his former company should have simply admitted the partnership was a mistake.
Anson Frericks went on to say,” ‘We wouldn’t do this again ’cause we’ve lost billions of dollars of market cap. Our brands are down almost 30%, and all of a sudden, we’re putting a lot of our suppliers at risk, and they’re laying off hundreds of people from jobs at some of their suppliers.’ There’s going to be more employees at risk if we don’t find a CEO who can somehow address the situation, get those customers back that were always loyal to Bud Light, and move this company forward.”
Bud Light is not the only “woke” corporation paying the price for their political games
Although the downfall of Bud Light is the most compelling example of the danger of “woke” politics mixing with business, Bud Light is not the only company paying the price for doing so.
Retail giant Target and the Disney Corporation are also in dire straits after years of bowing down to the “woke” mob.
The truth is that most Americans do not want radical agendas, especially those targeting children, shoved down their throat.
Regardless of what Bid Light does next, it will take years for the beer giant to fix their image amongst beer drinkers.
Read All About It will keep you up-to-date on any developments to this ongoing story.