Anheuser-Busch’s Bud Light is one the brands sponsoring the upcoming Cincinnati Pride Parade as the brand’s sales continue to plummet following a boycott after the company partnered with transgender activist Dylan Mulvaney.
As the New York Post reported:
A glance at the list of sponsors on the event’s website reveals that the Anheuser-Busch brand is lending its name to the annual event, which will be held on June 24.
The image on the page shows a rainbow-colored bottle of Bud Light next to a glass of beer under the heading “Together in Pride.”
Other sponsors of the Cincinnati Pride Parade include Planned Parenthood, Toyota, and Kroger, among others.
The Pride Parade sponsorship comes as Bud Light sales have plummeted and parent company Anheuser-Busch’s market value has declined for six weeks after the collaboration with Mulvaney.
As Breitbart News reported:
On Monday, the New York Post reported the latest sales NielsenIQ sales figures analyzed by Bump Williams Consulting, a Connecticut-based firm with expertise in the alcohol industry. For the week ending on May 13, Bud Light sales collapsed by 24.6 percent compared to the same period last year.
What is more, case sales are down 28.4 percent for the week of May 7-13. In other words, the company sold less than three cases that week for every four it sold last year. The woes have poured into other brands owned by Anheuser-Busch, a subsidiary of InBev, according to Bump Williams.
The boycott began in April after Mulvaney posted a video to social media on April 1 in which Mulvaney opened a can of the Bud Light beer before stating, “This month I celebrated my day 365 of womanhood.” Mulvaney went on to show off a Bud Light can that bore his likeness in the post, accompanied by the caption “#budlightpartner.”
Anheuser-Busch’s market value has fallen by $15.7 billion since the boycott began in April.
In comparison, Anheuser-Busch’s top competitor Molson Coors, owner of Coors Lite, has seen a $2.2 billion market value increase in that time, an increase of roughly 20 percent.