On Tuesday, Bud Light confirmed a donation of $200,000 to the National LGBT Chamber of Commerce (NGLCC) amid falling sales and a boycott linked to the company’s collaboration with transgender activist Dylan Mulvaney.
Bud Light has been facing a boycott
The beer brand came under fire from conservative groups who began boycotting the company starting April 1. The boycott came in response to Mulvaney’s social media post that displayed a Bud Light can bearing his image, celebrating “my day 365 of womanhood.”
Regardless of the decline in Bud Light sales and the decrease in the market value of parent company Anheuser-Busch, the beer company is set to back the NGLCC’s Communities of Color Initiative.
Bud Light aims to support LGBTQ+ businesses
As per the official press statement, the initiative aims to “support the growth and success of minority LGBTQ+-owned businesses through certification, scholarships and business development in an effort to create equal opportunities for the economic advancement of small businesses in the LGBTQ+ community.”
Bud Light is also pledging support for the “Biz Pitch” program under the initiative. This program offers minority LGBTQ+ entrepreneurs a chance to win a $5,000 grant and the possibility to compete for a $50,000 grand prize at the annual NGLCC business and leadership conference.
Bud Light’s mission ‘still holds true today’
Anheuser-Busch conveyed their continued commitment by saying, “Bud Light was brewed to be an ‘Easy to Drink, Easy to Enjoy’ beer for everyone 21+, and that still holds true today.”
They added, “We look forward to extending our work with the NGLCC to continue making a positive impact on the LGBTQ+ businesses that play a critical role in bringing people everywhere together.”
The NGLCC expressed appreciation for Bud Light’s consistent efforts, saying, “We’re honored to continue our partnership with Bud Light in support of LGBTQ+ businesses.”
They added, “We appreciate the brand’s ongoing efforts to bolster our Communities of Color Initiative that empowers and supports both minority LGBTQ+ business owners and entrepreneurs, as well as the vital roles they play in communities across the United States.”
Bud Light has been a staunch supporter of LBGTQ+ causes
The most recent $200,000 donation from Bud Light complements the more than $13 million that Anheuser-Busch has provided in support of LGBTQ+ causes in the last twenty years.
However, it was revealed on Tuesday that Bud Light’s sales have dropped by almost 30 percent for the week of May 20 compared to the same period the previous year.
Anheuser-Busch’s market value also fell by $15.7 billion since the onset of the boycott. The company’s stock was valued at $66 on March 31 but has since slipped to $54.