Dos Equis is reviving its famous “Most Interesting Man” advertising effort after a decade, aiming to alter the struggling brand.
Sales of the Mexican lager, owned by Heineken, declined last year, reflecting a wider industry downturn as drinkers consume less beer. Management anticipates that the once-popular campaign will rekindle interest in the nearly 130-year-old brand.
“The whole beer category has gone through tough times,” explained Aline Peine, Heineken USA’s Chief Marketing Officer. However, during the ten years the campaign ran, starting in 2006, Dos Equis volume tripled, so “we are very hopeful this will spark sales.”
The promotion initially launched twenty years ago and became a pop culture sensation. The commercials inspired parodies on “Saturday Night Live” and made actor Jonathan Goldsmith a recognizable figure. He returns to the role in a 60-second spot debuting Monday during the College Football Championship on ESPN.
Dos Equis could use the attention. For the full year 2025, retail sales dropped 8%, significantly worse than competitors Modelo and Corona, which both saw declines of 2%, per NIQ data provided to CNN by Bump Williams Consulting.
The Mexican import also faces fallout from immigration crackdowns by President Donald Trump. Many Hispanic consumers, both legal and undocumented shoppers, are hesitant to visit stores or host large gatherings. The sales slump is also affecting competitor Corona.
“It’s evident there are still certain pressures from ICE and immigration enforcement impacting individual consumer purchasing behavior, and it appears those pressures are not easing as the new year begins,” stated Dave Williams, President of Bump Williams Consulting.
Peine told CNN it has been a “tough time” for Dos Equis, as the company is heavily keyed toward Hispanic consumers, but noted that weak consumer confidence and inflation are hurting all Heineken brands.
Heineken, which also produces Amstel and Birra Moretti beers, lowered its financial outlook twice last year as aficionados cut back on beer purchases due to the rising cost of living. The firm anticipates reduced earnings when it announces yearly results in February.
This week, the brewer announced the unexpected departure of CEO Dolf van den Brink after six years in the role, signaling significant issues for the Amsterdam-based company. A replacement was not immediately named.
Heineken is a smaller player in the U.S. compared to Budweiser and Molson Coors. Retail sales for the Heineken family of brands in the U.S. fell 9% last year, according to NIQ data, Williams reported. Heineken 0.0, its non-alcoholic variant, was the only Heineken beer to register growth.
However, Peine is hopeful that the return of a familiar face will help Dos Equis maintain or grow market share.
“When we say we fired the Most Interesting Man, it hasn’t disappeared from the cultural conversation at all,” she commented, mentioning that the younger generation is aware of him through memes the advertising spawned.
Williams praised the original campaign but told CNN he doubts there is enough nostalgia among current and former liquor aficionados to restore Dos Equis’ prominence in a far more crowded Mexican import category.
“Nevertheless, there is obviously a substantial pool of Mexican import consumers nationwide, and if this campaign can be leveraged to restore brand awareness among consumers as an alternative to current competition… Then it is certainly a move in the right direction toward reclaiming its category share,” he added.
About the Author
