More on Heineken 2009: “We went through a fairly turbulent year”

Those were the words of Heineken NV chief Jean-François van Boxmeer, who nonetheless proclaimed that despite soft volume, "revenue was kept more or less stable....due to pricing." Sound familiar? That seems to be the modus operandi for all the big brewers these days. In a conference call with analysts, Jean-François says he is often asked, "Is down trading effecting Heineken brand because it's so premium?" In mature markets, his conclusion was yes. Still, "the strategy of building a premium brand