Davidoff cigars and their affiliate companies Camacho and Avo have seen an increase in sales, double digit growth to be exact, but their overall sales for 2015 have actually declined when compared to the previous year. The company has decided to focus its attention toward their premium cigars and tobacco accessories business seeing they have achieved record product for the third year in a row.
Oettinger Davidoff cigars is a private company home based in Switzerland and employs nearly 3,600 people. The primarily produce cigarettes and premium cigars under the names of Davidoff, Camacho and Avo. Their total a sales for all three companies fell from 1.2 billion in204 to 1.1 billion in 2015 claiming the reason for the drop due to ?falling demand in Europe and China?, which are typically strongholds for the company.
While the Chinese and European markets were down the company say improved sales in North America as well as Asia up 10.5% and 34.4% respectively in the United States which saw an increase of 15%.
Camacho cigars, which are produced from Honduran tobaccos are proving to be big success accounting for the new growth with Escurio, Winston Churchill and Davidoff Nicaragua making up 1/3 of the new growth in sales.
Davidoff cigars CEO Hans-Kristian Hoejsgaard, says, ?In the financial year gone by, Oettinger Davidoff has made great progress, both strategically and with regard to the development of the core brands and market shares?. While total sales for Davidoff cigars may be down the company is seeing an all-time high in sales producing 45.8 million cigars in 2015 up 4.1% from the year before. Oettinger Davidoff expects another year of reduced total sales for 2016 all the while seeing a vertical growth with their premium cigar business.
The company has recently acquired an additional 15,000 acres in Nicaragua and Honduras for tobacco cultivation building a state of the art production facility. Davidoff cigars is well equipped to meet the growing demand for premium cigars by also acquiring a majority ownership of distributor Bluebell Cigar in Asia.
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