Tecate Exits Boxing Industry Amid Shift In Marketing Approach
Tecate for years has "positioned itself as the 'official beer of boxing,'" but the brand will "no longer sponsor the sport as it pursues a more gender-neutral marketing approach that includes shifting dollars to soccer and music festivals," according to E.J. Schultz of AD AGE. The boxing exit is "significant, considering Tecate has dedicated millions of dollars to the sport in the U.S.," starting in '07 when it "backed a high-profile match between Oscar De La Hoya and Floyd Mayweather." In the ensuing years, Tecate "duked it out with Corona for sponsorships of high-profile bouts, including outbidding its competitor" in '15 when it paid a reported $5.6M for the "rights to the Mayweather-Manny Pacquiao fight." In '16, Tecate "inked an endorsement deal with Mexican boxer Canelo Álvarez, who later appeared in a testosterone-fueled ad for the brand along with Sylvester Stallone." Tecate is "banking that greater involvement with soccer and music will help lure newcomers." New deals include "sponsorship of the Leagues Cup," the annual soccer tournament that includes clubs from MLS and Liga MX (ADAGE.com, 2/21).