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☆ Here's why Diddy is suing Diageo over his vodka and tequila brands
▼ + stars: | 2023-06-01 | by ( Stefan Sykes | ) www.cnbc.com time to read: +3 min

Diddy attends The After, hosted by the entrepreneur and Doja Cat, powered by Ciroc Premium Vodka and DeLeon Tequila at Club Love in New York City, May 1, 2023. Sean "Diddy" Combs is suing multinational spirits giant Diageo for alleged racial discrimination in the handling of his vodka and tequila brands, which Combs claims the company typecast as "Black brands." In a lawsuit filed Wednesday with the New York Supreme Court in Manhattan, Combs' lawyers accuse Diageo of neglecting his Ciroc vodka and DeLeon tequila brands, and of marginalizing their appeal by marketing them as "urban" brands. Following the success of the partnership, Diageo co-purchased the DeLeon tequila brand with Combs' company in 2013. Diageo, a multibillion-dollar, publicly traded spirits company based in London, owns more than 200 brands, including the Don Julio tequila brand.

Persons: Diddy, DeLeon Tequila, Sean, Combs, DeLeon, Puffy, George Clooney's, Clooney's, Bump Williams, Don Julio, Stephen Rust, Martha Stewart, Rust, They're Organizations: Diageo, New York Supreme, Clooney's Casamigos, Nielsen, CNBC Locations: New York City, Manhattan, London, Ciroc

☆ Anheuser-Busch loses top LGBTQ+ rating over its Bud Light response
▼ + stars: | 2023-05-19 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

New York CNN —Last year, the Human Rights Campaign Foundation gave Bud Light parent company Anheuser-Busch a top rating for LGBTQ+ equality. Bud Light sales dropped in the ensuing weeks. Bud Light has been embroiled in controversy since April. But Bud Light hasn’t gotten the benefit of support for its initial deal with Mulvaney because of its subsequent reaction. During the discussion, he mentioned that Bud Light is just one brand within the company’s broad portfolio, which has not changed its full-year outlook.

☆ It's 'too early' to asses any potential Bud Light backlash, Anheuser-Busch CEO says
▼ + stars: | 2023-05-04 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

He focused attention on the company’s global reach, saying that Bud Light is just one beer within its portfolio and it’s not changing the company’s full-year outlook. He also reiterated that the Mulvaney post wasn’t an ad campaign, and blasted the “misinformation” surrounding the sponsored post. The video went viral, with some responding with anti-trans rhetoric and calls for a Bud Light boycott. The week prior, Bud Light revenue was down 17%, even as sales of rivals Miller Lite and Coors Light increased. The company said it is going to increase investment in Bud Light as it continues to deal with sagging sales.

☆ What boycott? Bud Light controversy led to only a 1% drop in global sales volume, CEO says
▼ + stars: | 2023-05-04 | by ( Grace Mayer | ) www.businessinsider.com time to read: +4 min

Anheuser-Busch's global CEO Michel Doukeris discussed the impact of recent Bud Light backlash. Doukeris said the drop in Bud Light sales represented only 1% of the company's global sales volume. Previously, the Wall Street Journal reported that Bud Light Sales dropped by 17% by mid-April, per data created by Bump Williams Consulting and analyzed by Nielsen. By April 22, Bud Light sales in US stores dropped 21% compared to the previous year, per the sales data analysis reported on by the Journal. Bud Light has also reportedly offered a free case of beer to every employee of its wholesale distributors.

☆ Why the Bud Light sales nosedive won’t register on Anheuser-Busch’s earnings report this week
▼ + stars: | 2023-05-03 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Anheuser-Busch will report earnings Thursday, marking the first time it will face Wall Street analysts’ questions since its Bud Light brand erupted in controversy. Sales of Bud Light have tumbled over the past month after the company delivered a custom can to Dylan Mulvaney, a transgender woman with a large Instagram following. The video went viral, with some supporting Mulvaney and the company, and others responding with anti-trans reactions and calls for a Bud Light boycott. The week prior, Bud Light revenue was down 17%, even as sales of rivals Miller Lite and Coors Light increased. Bud Light sales have been declining for years, but this situation has “snowballed” and made its troubles even more pronounced, Roth said.

☆ Bud Light is hoping free cases of beer will smooth over any tensions with its sellers after Dylan Mulvaney backlash
▼ + stars: | 2023-05-03 | by ( Grace Mayer | ) www.businessinsider.com time to read: +4 min

Bud Light has reportedly seen dips in sales since a promotion that featured a transgender influencer. Amid the backlash, the company is giving out free cases of beer to employees of its wholesalers. Anheuser-Busch, the company that owns Bud Light, is gifting a case of Bud Light to all employees who work with the company's wholesale distributors, the Journal reported. On April 1, transgender influencer Dylan Mulvaney posted a video on Instagram that featured Bud Light cans designed with a picture of her face. Later, the Journal reported that Bud Light Sales dropped by 17% by mid-April, per data created by Bump Williams Consulting and analyzed by Nielsen.

☆ Bud Light wanted to market to all. Now, it's alienating everyone
▼ + stars: | 2023-05-01 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +10 min

New York CNN —For years, Bud Light leaned on jokey ad campaigns and its designation as a light beer to push sales. Now, Bud Light finds itself seeking younger drinkers, and stumbling through America’s polarized landscape in the process. There have been calls for a Bud Light boycott. And the stock of Bud Light owner Anheuser-Busch (BUD) has fallen only about 3% in the last month, suggesting Wall Street isn’t too worried. Bud Light, he thinks, could be missing out on that type of support.

☆ Bud Light sales reportedly dropped 17% following anti-trans marketing backlash
▼ + stars: | 2023-04-28 | by ( Grace Mayer | ) www.businessinsider.com time to read: +3 min

Bud Light sales took a hit after the brewer partnered with a trans TikTok influencer, WSJ reports. The data showed Bud Light sales dropping 17% in the week of April 15 compared to the same week last year. Bud Light Vice President of Marketing Alissa Heinerscheid took a leave of absence following the backlash. Bud Light owner Anheuser-Busch has also said Heinerscheid will be replaced with with Todd Allen, the global vice president of Budweiser. Bud Light isn't the only brand that's been recently hit with anti-trans backlash.

☆ Bud Light sales are falling, but distributors say they’re sticking by the brand
▼ + stars: | 2023-04-26 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

New York CNN —Beer distributors are largely sticking by Bud Light and its parent company, Anheuser-Busch, as controversy continues to embroil the brand. Bud Light pours at bars and restaurants declined in early April, according BeerBoard, which tracks sales data at thousands of bars and restaurants. BeerBoard told CNN that the 3,000 locations tracked by the firm poured 6% less Bud Light than rivals, including Miller Lite and Coors Light, from April 2 to April 15. Bud Light had been much more popular than rivals in the weeks before: From March 18 through April 1, customers ordered Bud Light 15% more than rival light beers. Heinerscheid said in a recent podcast interview that Bud Light needs to attract young drinkers to ensure the company’s future by promoting inclusivity.

☆ Why you could be drinking more prosecco than Champagne at your New Year's party this year
▼ + stars: | 2022-12-30 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +3 min

Consumers are choosing prosecco over Champagne and opting for cheaper tequila amid economic uncertainty. Still, the Champagne industry is on track to beat its sales record thanks to higher-income drinkers. The premium alcohol business saw a boom in 2021 thanks to traveling and partying finally being back on the table. Sales of Champagne also reached a record high of $5.7 billion in 2021, 14% higher than the pre-pandemic record, Reuters reported. But before you feel too bad for the Champagne industry, don't worry — it's still on track to beat its 2021 sales record, David Chatillon, chairman of the Union of Champagne Houses, told Reuters.

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