As the chairman of O’Leary Ventures and a star on the reality TV show “Shark Tank,” Kevin O’Leary has seen a lot of business triumphs and blunders. But what’s been happening to Bud Light lately still strikes him as unprecedented.
In a recent interview with Fox Business, O’Leary said that Bud Light's situation is unheard of in the beer industry.
“Beer brands take decades to build and usually are fighting [for] 1% to 2% share per year by spending hundreds of millions of dollars on advertising,” he explained. “This has never happened before. No beer brand has ever lost 25% market share in a matter of hours. It’s so unprecedented that there’s no playbook for this.”
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Teaching A Lesson
In April, Bud ...