Corona Maker invests $100 million to stimulate women entrepreneurs
Constellation Brands Inc, manufacturer of Corona beer for the United States and Svedka vodka, will invest $100 million in women’s alcoholic beverage companies over the next 10 years to support women in the alcoholic beverage and beer sector.
“I don’t think women are sufficiently represented in alcoholic beverages in many different ways,” said Bill Newlands, Chief Operating Officer and new Managing Director of Constellation Brands. “I don’t think there are enough products designed and developed for women. The marketing that took place largely focused on men – this is particularly true in the beer sector.”
Men represent about 80% of the executives in the beverage manufacturing industry. Women are less present but not so easily funded.
Constellation will also give the founders access to its supply chain, distributor relationships and consumer research. For their part, the founders bring the necessary perspective and ideas on what women expect from their drinks. “It is also a talent pool that we can leverage to a large extent,” said Mallika Monteiro, Constellation Brands’ Director of Growth.
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