New York —
Dos Equis is set to rejuvenate its iconic “The Most Interesting Man” advertising campaign after a decade-long hiatus as part of a strategy to reverse declining sales for the Heineken-owned Mexican lager. The beer industry has faced a downturn, with consumers shifting away from traditional beer choices, and Dos Equis has not been immune to these trends.
Alison Payne, chief marketing officer of Heineken USA, highlighted the challenges facing the entire beer category, emphasizing the drastic impact the campaign previously had when it launched in 2006. During its ten-year run, the Dos Equis brand experienced a volume increase of threefold. With high hopes pinned on the campaign’s revival, Payne expressed optimism that it could reignite interest in the nearly 130-year-old beer brand.
Originally debuting 20 years ago, the campaign quickly became a cultural phenomenon, inspiring parodies on shows like “Saturday Night Live” and elevating actor Jonathan Goldsmith to fame. Goldsmith will reprise his role in a 60-second spot set to air during the College Football Championship on ESPN.
Sales data reflects a pressing need for this attention. Retail sales for Dos Equis plummeted 8% in 2025, significantly more than competitors such as Modelo and Corona, which faced 2% declines, according to NIQ data from Bump Williams Consulting. Moreover, the brand’s challenges are compounded by the lingering effects of President Donald Trump’s immigration policies, which have led to apprehensions among Latino consumers about shopping and gatherings, consequently affecting overall sales for both Dos Equis and rivals like Corona.
Payne acknowledged the tough climate for the brand, particularly given its appeal to Hispanic consumers, but underscored that inflation and consumer confidence challenges are affecting all Heineken brands. The company also faced difficulties last year, cutting its financial guidance twice due to reduced beer purchases linked to the rising cost of living. Heineken anticipates profit setbacks when it reports its full-year earnings in February.
In a surprising turn, Heineken announced the resignation of CEO Dolf van den Brink after six years, further indicating potential struggles for the Amsterdam-based company. Heineken remains a smaller entity in the U.S. compared to competitors like Budweiser and Molson Coors, with its brand sales falling 9% last year. Notably, Heineken 0.0, its non-alcoholic variant, was the sole product within the brand to see growth.
Despite the challenges, Payne remains hopeful that the return of a beloved figure can help Dos Equis retain or even expand its market share. She noted that the cultural impact of the original campaign continues, as the younger generation recognizes the character through various memes.
Industry expert Dave Williams acknowledged the nostalgia factor but expressed skepticism about whether it would be enough to reclaim Dos Equis’ former standing amid intense competition in the Mexican import segment. He believes that effectively leveraging the campaign could assist in rebuilding brand awareness and provide a positive trajectory for the brand’s future. The revival of this beloved campaign presents an opportunity for Dos Equis to reconnect with consumers and regain lost ground in the competitive beer market.