Brewer AB InBev signals new focus on Michelob Ultra amid light beer rivalry
Reuters
Published Sep 19, 2023 20:00
Updated Sep 19, 2023 20:12
LONDON (Reuters) - Anheuser-Busch InBev has elevated its low calorie lager Michelob Ultra to the status of "global brand", according to an investor presentation held on Tuesday, positioning it to better compete with Dutch rival Heineken.
The world's largest brewer previously bestowed that title on just three of its biggest-hitting labels, Budweiser, Corona and Stella Artois, as recently as Aug. 3. But presentation slides on Tuesday included Michelob Ultra, already a big hit in the U.S., in the group.
Chief Marketing Officer Marcel Marcondes added during the presentation that the company now sees Corona as its "leading horse" globally. Alcohol-free version, Corona Cero, meanwhile, will be its number one focus in the no-alcohol category.
The moves see AB InBev squaring up with rival Heineken, whose new light beer Heineken Silver is looking to win share in in the critical U.S. market, and whose Heineken 0.0% is the global market share leader in the no-alcohol category.
Light beers, which contain fewer calories and carbohydrates, are gaining traction as consumers become increasingly health conscious. AB InBev's Bud Light previously dominated the category in the U.S., but lost its top spot following a backlash from conservatives over a social media promotion with transgender influencer Dylan Mulvaney.
"Michelob Ultra is obviously a top priority for us. This brand has a unique positioning in consumers' minds, we have a proven success case and clear headroom for growth in the U.S. and beyond," Kyle Norrington, U.S. Chief Commercial Officer said, with other speakers flagging the brand's potential in markets like China.
Corona, meanwhile, has led growth and still has a "long runway" to go, Marcondes continued. Brian Perkins, the company's West Europe President, added that the company would focus on Corona Cero as its number one global no alcohol beer proposition.
It also offers opportunities in markets without big drinking populations, such as Saudi Arabia, where Perkins said the brand will soon be launched.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.