Results for: Budweiser

Budweiser APAC, the Asian arm of the global beer giant, is facing headwinds in its largest market, China. The company’s profit dropped 15% in the first nine months of the year, driven by a 16.1% revenue decline in the third quarter. This downturn is attributed to a combination of factors, including a sluggish Chinese economy, evolving consumer preferences, and demographic shifts. Budweiser APAC’s strategy of focusing on high-end products might be encountering challenges amid cautious consumer spending.

The Premier League has reportedly secured a £40 million agreement with Guinness, a notable name in the world of rugby, to become its new beer sponsor from the upcoming season. Guinness will take over the reins from Budweiser, the league’s previous beer partner for the past five years. Diageo-owned Guinness emerged victorious over Heineken in the competition for this sponsorship deal. The move marks a significant shift for Guinness, which has historically focused on rugby sponsorships, including the Premiership and Six Nations competitions. The deal is expected to provide a financial boost to the Premier League, especially considering the ongoing financial challenges faced by several clubs in the top flight due to the compulsory Government levy for the establishment of the new independent regulator. The Premier League is anticipated to bear the brunt of the regulator’s operational costs and start-up expenses, which are estimated to reach millions of pounds.