Representatives of casino giant MGM Resorts International, nightclub operator Hakkasan Group and Cabo Wabo Cantina, in Miracle Mile Shops, said they had seen no effects either. Scott Hanning, head beer buyer for Lee’s Discount Liquor, said the liquor-store chain has “not yet seen any adverse effect on the sales of Corona.” “We’re all good,” said Denny James, marketing director of Señor Frog’s at Treasure Island, adding the party spot has seen “no fluctuation whatsoever” in sales of Corona. Several Las Vegas booze slingers report no noticeable changes in sales volume due to the virus. Today, the coronavirus boasts a similar name - and no other connection - to the top-selling beer, but there’s no indication that business is slumping. pork industry took a financial hit amid fears of the deadly “swine” flu, which, as an industry group stressed, had nothing to do with pigs. Business is ahead year-to-date, and there are no supply issues for the product either. Speaking at an investor presentation at Caesars Palace, Newlands said the company has received “numerous inquiries” about the virus. (Benjamin Hager/Las Vegas Review-Journal) top boss of Corona said Wednesday in Las Vegas that sales of the popular beer are just fine and consumers realize there is no tie between the drink and the deadly coronavirus.īill Newlands, president and CEO of Corona maker Constellation Brands, said despite “a fair amount of misinformation that’s been circulating … our business is just fine.” 10, 2019, at Smith's Marketplace, in Las Vegas. Both moves seem to clearly signify the brand’s continued commitment to rebuilding its standing within public perception.Bartender Adam Karli pours a beer at Social Hour Beer and Wine Bar on Thursday, Oct. This week also saw the beer brand open the UK’s first ever 100% natural beach bar, made from all-natural materials including sand, wood, clay and bamboo, on Porthminster beach in Cornwall.
Part of the Mexico-based Grupo Modelo, Corona recently announced an initiative to help the restaurant industry recover from the effects of the pandemic. This blot on public opinion is likely to be behind the beer’s dip in brand value, though Corona’s extraordinary resilience speaks to the strength of the global brand. With the Mexican brand’s name meaning ‘crown’ in Spanish, it’s perhaps apt that Corona has retained its status as king of the beer world, despite significant challenges faced by the brand since the start of the pandemic.Īccording to findings from the new Brand Finance Alcoholic Drinks 2021 report, Corona has managed to hang onto the title of the world’s ‘most valuable’ beer brand, in spite of recording a 28% drop in brand value to the tune of $2.243 billion, bringing its current brand value in at $5.8billion.ĭuring the last year, Corona has been met with consumer hesitancy, particularly in one of its biggest markets, the US, where some Americans have been apprehensive about purchasing Corona products due to the similarity in name to that of coronavirus. Despite images of Corona bottles languishing on supermarket shelves due to its association with the pandemic, the beer brand remains the world’s most valuable, says new Brand Finance report
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