World: Beam Suntory reports 13% increase in H1 net sales
Beam Suntory reports an increase of 13% in net sales in the H1 2022 as opposed to the same time last year. The maker of Jim Beam and Maker’s Mark bourbon, Courvoisier cognac, and Hibiki Japanese whisky posted a 25% increase this year when compared with pre-pandemic period in 2019, The Financial Express reported on August 11.
The fact that the company was able to deliver these strong results in a challenging period underscores the resilience of the markets, quality of the company’s brands, and the significant impact of its premiumisation strategy, Albert Baladi, president and CEO, Beam Suntory, said. “We expect that the external environment will be even more challenging in the second half of the year and into 2023, and we are well positioned to deliver against both our short- and long-term ambitions through the strategies we have in place, and investments we’re making in our future,” he added.
The company claims to have benefited from double-digit sales gains in markets including the United States, Spain, United Kingdom, India, Australia, and emerging Asia, high-single-digit sales growth in Japan, as well as the favorable timing of shipments. Sales grew more than twice the rate of case volumes on the back of the company’s premiumisation strategy. As per the report, the company’s sales in North America saw a 13% increase, while Asia reported a 10% rise and the Beam Suntory’s International region saw 20% growth.
The company recently announced a $400 million investment in its Booker Noe distillery in Boston. Global priorities such as Maker’s Mark and Basil Hayden bourbons as well as The House of Suntory’s Roku Gin and Toki Japanese Whisky were all up in double digits. Super premium brands demonstrated meaningful momentum, with particularly strong double-digit growth from Yamazaki, Knob Creek, Laphroaig, Bowmore, and El Tesoro Tequila. Regional priorities also delivered strong growth, as sales for On The Rocks Premium Cocktails doubled and Oaksmith International Blended Whisky nearly tripled, while Teacher’s Whisky and Larios Gin drove strong double-digit gains.
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