Everything Val LaMantia said at the "CEOs Unite - Let's Get Uncomfortable" summit
MCALLEN, Texas - Businesswoman Val LaMantia was one of the panelists at the “CEOs Unite - Let’s Get Uncomfortable” summit.
The event was hosted by Hidalgo County Prosperity Task Force and Futuro RGV.
LaMantia is one of the directors of L&F Distributors, which is a major wholesaler for beer giant Anheuser-Busch.
In her remarks, LaMantia said L&F had to overcome a huge loss in sales that was out of the company’s control.
“About a year ago, we had kind of a little bit of a snafu in the Bud Light debacle. I don't know how many of you remember that or not but it was something that we had nothing to do with. But, because we were affiliated with a national organization, Anheuser Busch…,” LaMantia explained.
“It was one post, one time, and it affected our sales, our Bud Light sales, which was our number one brand. It went from our number one brand down to almost non existent for a little bit. And that kind of threw us through a loop. You know, no matter what you sell, at any point in time in your business you can just drop. For no reason… you did not do anything other than you just sold that product.”
LaMantia was referring to the backlash Anheuser Busch received when it partnered with transgender TikToker Dylan Mulvaney. Many consumers stopped buying Bud Light and other Anheuser Busch beers. Some conservative celebrities pushed for a boycott of the company’s products.
LaMantia said L&F is still recovering.
“Over the months and over this last year, we've kind of come back somewhat but it made it all of us ponder a little bit that, no matter what you do, no matter how hard you are in the community, no matter how hard you work in the community, sometimes things just happen and under your control or not your control things will just… your business will just, you know, suddenly cease,” LaMantia said.
“And so we've come back from that, but I think there's a lot of lessons to be learned in that and a preparedness that everybody needs to take when they are out there trying to sell, whatever they're trying to sell, that you need to be prepared and you need to understand that when things like that happen, you have to have a plan.”
LaMantia said she did not think Anheuser Busch had a plan on how to respond.
“It's just not put your head in the sand but it’s, get out there and explain your reasonings and explain who you are as a company, which we tried to do and I think we've we've done a pretty good job of it since. But it's just one of those many lessons that you learn… if you've been around as long as we have.
LaMantia said she and her family are probably most proud of the scholarships L&F has given out over the years.
“We had started, about 20 years ago, with my father starting this… it was a Stars Scholarship Fund that kind of brought along… as we grew with L&F we asked the community to help us. It was a grassroots organization that provided scholarships for people that came from the area in which we served,” LaMantia explained.
“And so today, we have given out over $38.9 million worth of scholarships to about 19,000 students.”
There was applause in the audience.
“Thank you."
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