Habanos, S.A broke a new record with 2021 turnover reaching US$568 million, a 15% increase from the previous year. Credit: Habanos, S.A.
Corporación Habanos, S.A., released its financial data for the 2021 financial year showing a turnover of US$568 million, with a 15% growth compared to the previous year.
"The 2021 results confirm the solid path we are on, despite the crisis caused by Covid-19,” said Inocente Núñez Blanco and Luis Sánchez-Harguindey Pardo de Vera, co-presidents of Habanos, S.A. in a joint statement. “Last year we surpassed the US$500 million mark for premium cigar sales worldwide, an all-time record for the category and a testament to the enormous potential of our business. We are very proud to lead the premium cigar category and to continue to grow despite the situations experienced over the past two years."
In ranking by country, Habanos top five markets in sales volume were Spain, China, Germany, France, and Switzerland. By region, Europe remains Habanos' main market, with 59% of sales, followed by Asia-Pacific (16%), America (14%), and Africa and the Middle East (11%).
“At Habanos, S.A. we maintain our commitment to offer the best experience to our aficionados, exclusive products and novelties, all in keeping with the quality, tradition and unique origin that make our Habanos a luxury product appreciated all over the world,” said Leopoldo Cintra González, commercial vice-president, and José María López Inchaurbe, vice-president of development also in a joint statement. “Our aficionados have remained loyal to Habanos and their tastes and, in many cases over the past year, they have incorporated into their domestic consumption vitolas and brands that used to be part of a more social consumption.
"The exceptional situation [the world] experienced as a result of the pandemic has led to certain changes in consumer habits. Within this new context, the company has been able to adapt and, together with its exclusive distributors, has managed to keep the passion for Habanos alive as a result of its marketing strategies, launches, new products, virtual events and, when possible, face-to-face events," said the two vice presidents.
Another key to success has been the retail concept, which continues to be an essential aspect of the Habano business, based on specialization, exclusive products, and good service. These retail concepts are a unique attraction for Habano and premium cigar lovers. Despite the situation in 2021, at year-end the company had 20 Cohiba Atmosphere, 160 La Casa del Habano (+3%), 1,217 Habanos Specialist, 2,465 Habanos Point (+7%), and 486 Habanos Lounge / Habanos Terrace. These figures are proof of the strategic success of these concepts.
Habanos is aware of the impact and delays in the supply of some of its best-selling vitolas, caused largely by the pandemic and by the strong international demand. Despite this situation, 38 new products were exported in 2021 and already, after the first quarter of 2022, the company is seeing a gradual improvement in supply.
Some of the most eagerly awaited releases by aficionados – the Cohiba Ambar, Cohiba Ideales, and Cohiba Edición Limitada 2021, all dedicated to the brand's 55th anniversary – could not be presented and tasted at the famous Habanos Festival due to the event's cancellation in 2021 and 2022, but were presented at an innovative virtual event called Habanos World Days. Habanos, S.A. is pleased to announce that it will hold a gala evening to commemorate the 55th anniversary of its most prestigious brand, Cohiba, on September 9 in Havana, Cuba. This and other surprises will soon be announced in greater detail through Habanos, S.A.'s official channels.