Corporación Habanos has announced revenues of US$507 million for 2020, a fall of just -4% year-on-year despite the impact of the pandemic. For the first time in the premium cigar company’s history, China became the number one national market by sales volume last year. It was followed by Spain, France, Germany and Switzerland.
The Cuban premium cigar company said the year-on-year decline was mainly due to reduced sales in countries that benefit from tourism, and from a loss of duty free & travel retail business. Habanos expressed confidence that the travel retail market would recover in 2021.
Habanos Commercial Vice-President Leopoldo Cintra González and Business Development Vice-President José María López Inchaurbe said in a statement: “2020 has been a year of challenges, not only for our business, but for all humanity, a year in which the ability to adapt and be proactive has made the difference. At Habanos we have adapted to the circumstances and global context together with our exclusive distributors.”
By region, Europe remains the leading Habanos market, with 60% of sales by volume, followed by Asia Pacific (16.2%), the Americas (13.6%) and Africa and the Middle East (10.4 %).
The results announcement came at the beginning of the Habanos World Days virtual event (4-6 May), during which the company is celebrating the 55th anniversary of the Cohiba brand. To mark the ‘Cohiba Year’, Habanos is releasing three new lines: Cohiba 55 Aniversario Limited Edition, Cohiba Ambar and Cohiba Ideales.
Habanos also announced new releases for its Montecristo and Partagás brands. It plans to launch special editions for travel retail and for its La Casa del Habano franchise network in 2021, it said.
