Kevin O‘Leary, chairman of investment platform O’Leary Ventures, expressed his intent to teach the Bud Light disaster during his college visits because the seasoned entrepreneur believes the brand has misunderstood its core customer base and is now suffering the consequences.
“This is unprecedented in the beer industry. Beer brands take decades to build. And usually, you’re fighting for 1–2 percent share per year by spending hundreds of millions of dollars of advertising,” O’Leary said in a June 20 interview with Fox News. The situation with Bud Light “has never happened before. No beer brand has ever lost 25 percent market share in a matter of hours. It’s so unprecedented that there is no playbook for this.”
