Red Bull Boycott in Thailand


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Uploaded on Sep 14, 2020

Category Business

Presentation on "Red Bull Boycott in Thailand"

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Red Bull Boycott in Thailand

Red Bull Boycott in Thailand INTRODUCTION • Thai energy drink brand Red Bull has sought to distance itself from a member of the business founder’s family who was involved in a hit-and-run case, as calls to boycott its products grow. Source: CNA COMPANY PROFILE • Red Bull is an energy drink sold by Red Bull GmbH, an Austrian company created in 1987. Red Bull has the highest market share of any energy drink in the world, with 7.5 billion cans sold in a year. Source: Alibaba.com ACCUSED OF CRASHING • Vorayuth Yoovidhya, grandson of the late Chaleo Yoovidhya who created the Thai energy drink Krating Daeng, or Red Bull, was accused of crashing his black Ferrari into a policeman in 2012 and dragging his body for dozens of metres before fleeing the scene. Source: Chiang Rai Times STATEMENT OF POLICE • Police said that his charges, which included speeding, hit-and-run and reckless driving causing death, were dropped in a case that has raised questions about crime and punishment for the well- connected. Source: The Independent STATEMENT OF TCP GROUP • TCP Group, which owns the Thai Red Bull brand, said it is run by Vorayuth’s uncle and not directly associated with Vorayuth, whose father has part ownership in the international Red Bull brand that Chaleo had co-founded with an Austrian partner. Source: PR Newswire STATEMENT OF TCP GROUP • Prime Minister Prayuth Chan-ocha’s office said that news of the dropped case made him “uncomfortable” and he had ordered relevant agencies to review previous steps, adding that he had never granted personal favors. Source: PR Newswire STATEMENT OF PRIME MINISTER’S OFFICE • Prime Minister Prayuth Chan-ocha’s office said that news of the dropped case made him “uncomfortable” and he had ordered relevant agencies to review previous steps, adding that he had never granted personal favors. Source: PR Newswire STATEMENT OF ATTORNEY-GENERAL • The Office of the Attorney-General also said it would look into how the case was dropped. Many Thais were angered by the move to drop charges. Source: South China Morning Post BOYCOTT RED BULL PRODUCTS • The move towards dropping charges prompted allegations of impunity for the rich and sparked calls on social media to boycott Red Bull products. Source: Reuters ABOUT VORAYUTH’S GRANDFATHER • Vorayuth’s grandfather was listed as the third- richest person in Thailand when he died in 2012 aged 88, with an estimated net worth of $5 billion, according to Forbes magazine. Source: Forbes