BRAZIL: Kaiser ploughs cash into brand reposition
Cervejarias Kaiser has revealed plans to invest heavily in marketing in the second half of this year. The Molson Coors subsidiary, which has seen its parent company cease financially supporting it, said on Tuesday (16 August) that it will plough BRL100m (US$42.5m) into repositioning its brand. The investment will hopefully return the company to profit after successive losses, Kaiser said.
At a press conference, Kaiser's chief of marketing, Marcelo Toledo, said that the funds were not coming from Molson, but were part of Kaiser's BRL180m marketing budget for the year.
In May, following the closure of its merger with Coors, Molson announced that it was reining in its investment, wanting the business to operate on at least a cash break-even pace. "We are unwilling to make further cash investments in Kaiser without greater certainty that it is a viable, long-term platform to compete effectively in Brazil," Molson Coors' CEO and president Leo Kiely said at the time.
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