Dos Equis Brings Back “Most Interesting Man” Campaign As Sales Decline
Dos Equis has announced the return of its iconic “The Most Interesting Man in the World” advertising campaign in a bid to revive interest in the struggling beer brand.
The Heineken-owned Mexican lager has seen a notable drop in sales, reflecting a wider slowdown in beer consumption as drinkers cut back. Company executives are banking on the nostalgia and cultural impact of the once-popular campaign to boost demand for the nearly 130-year-old brand.
“The beer category has had a challenging period,” said Alison Payne, Chief Marketing Officer of Heineken USA. She noted that during the original run of the campaign, which launched in 2006, Dos Equis’ sales volume tripled. “We’re optimistic this will help spark renewed interest,” she added.
The original adverts became a pop culture phenomenon, inspiring skits on Saturday Night Live and turning actor Jonathan Goldsmith into a household name. Goldsmith will reprise his role in a new 60-second commercial set to air during Monday’s College Football Championship on ESPN.
Dos Equis has struggled more than some of its competitors. Industry data from NIQ, provided by Bump Williams Consulting, shows that retail sales of the brand fell 8% in 2025. By comparison, rival imports Modelo and Corona each recorded smaller declines of around 2%.
The downturn has been compounded by concerns among Latino consumers following intensified immigration enforcement in the United States. Analysts say fears around public outings and large gatherings have affected shopping habits in some communities, impacting beer purchases.
“There are still pressures linked to immigration enforcement that continue to influence consumer behaviour,” said Dave Williams, President of Bump Williams Consulting. “That doesn’t appear to be easing as we move into the new year.”
Payne acknowledged the difficulties, noting that Dos Equis’ strong appeal to Hispanic consumers has made it particularly vulnerable. She added that inflation and weak consumer confidence have also affected Heineken’s wider portfolio.
Heineken, which also produces brands such as Amstel and Birra Moretti, cut its financial forecast twice last year as rising living costs squeezed beer spending. The company recently announced the unexpected resignation of its chief executive, Dolf van den Brink, after six years in the role, adding to concerns about its performance.
In the United States, the broader Heineken brand family recorded a 9% drop in retail sales last year. The company’s only growth area was Heineken 0.0, its non-alcoholic beer.
Despite the challenges, Payne believes the return of a familiar advertising figure could help stabilise Dos Equis’ market position.
“Even after we retired the character, he never really left the cultural conversation,” she said, pointing to the continued popularity of memes among younger consumers.
Williams praised the original campaign’s impact but questioned whether nostalgia alone would be enough to restore the brand’s former status in an increasingly competitive import beer market.
“There’s a large base of Mexican beer consumers nationwide,” he said. “If this campaign helps rebuild brand awareness and position Dos Equis as a real alternative to current favourites, it’s a positive step toward regaining market share.”
The success of the revived campaign will likely determine whether Dos Equis can reclaim its place in a rapidly changing beer market.
