Corona will continue pushing controversial new hard seltzer ad amid coronavirus outbreak
Constellation, whose portfolio includes Corona Extra, Modelo Especial and Svedka Vodka,it planned to spend more than $40 million in marketing its four new seltzer flavors, which is already appearing on shelves. But in the meantime, concerns about the spread of the coronavirus have surged. Constellation stock was down nearly 6% Thursday afternoon amid a broader stock slump.
"Our advertising with Corona is consistent with the campaign we have been running for the last 30 years and is based off strong consumer sentiment," a spokeswoman said in an email to CNBC. "While we empathize with those who have been impacted by this virus and continue to monitor the situation, our consumers, by and large, understand there's no linkage between the virus and our business."how Corona's brand sentiment has fared
amid the Coronavirus outbreak, and said purchase intent for Corona "is at the lowest it's been in two years, though the summer-y beverage which is closely associated with beach holidays does see substantial seasonal fluctuation." The firm also said the outbreak has resulted in negative buzz around Corona beer.
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