Worried about your favorite Mexican beer getting pricier? Don’t start hoarding Corona just yet! Constellation Brands, the company behind popular brews like Corona and Modelo, isn’t sweating potential tariff hikes if Donald Trump returns to the White House. In fact, CEO Bill Newlands is feeling pretty chill about the whole situation.
During Trump’s previous stint as president, Constellation’s business actually grew. How? Well, it turns out a good chunk of their ingredients come from right here in the USA. So, while some companies might be biting their nails over trade tensions, Constellation is sitting pretty. But here’s the kicker – those Mexican beers you love? They’ve got to be made south of the border to keep it real. It’s all about that authentic taste, amigos!
Speaking of south of the border, Newlands recently had a pow-wow with Mexico’s new president, Claudia Sheinbaum. The takeaway? She’s all about “shared prosperity.” Think of it as a fancy way of saying “let’s all win together.” It’s like when you and your friends decide to split the cost of a vacation rental – everyone benefits!
Now, it’s not all sunshine and cerveza for Constellation. While their beer brands are crushing it, the wine and spirits side of the business is facing some challenges. But don’t worry, they’re not throwing in the towel. Newlands and his team are mixing things up, adjusting their marketing spend to give key brands a boost. It’s like when you realize your dating app profile needs a refresh – sometimes you’ve got to switch things up to get the results you want!
