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- Chivas Brothers organic half-year net sales increase 23% thanks to portfolio improvement and premiumization strategy, which continues to have an effect
GLASGOW, Scotland, Feb. 16, 2023 /PRNewswire/ -- Chivas Brothers, Pernod Ricard's 100% Scotch whiskey business, today announced its half-year results (half year 2023; July 2022 - December 2022) with an organic increase in sales net sales of 23% compared to the half of 2022.
These strong results are due to its strategic focus on portfolio elevation and premiumization - two-thirds of the 23% growth is due to price/mix - coupled with the strength of its global presence. Its strategic brands Chivas Regal, Ballantine's, Royal Salute and The Glenlivet experienced double-digit growth.
Chivas Brothers' broad and balanced global presence has enabled this growth, with growth in emerging and mature markets of 24% and 22% respectively, and expansion in all key regions. In line with recent years, the results in the Asian and Latin American markets remain exceptional: Korea, Japan and Taiwan grow by 59%, 53% and 37% respectively, while Brazil, Colombia and Mexico register increases of 40%, 30 % and 21%. In European markets, Spain rose 17% and Poland 7%, and separately North America 6%.
This higher demand also supports its continued investment in the elevation of the Prestige portfolio (28%). Specifically, Ballantine's Prestige range grew 81% thanks to increased demand in the Asian markets and Global Travel Retail (GTR), while The Glenlivet's results were driven by its Prestige expressions.
Jean-Etienne Gourgues, Chairman and CEO of Chivas Brothers, commented:
"These positive results reflect the impact of our long-term portfolio enhancement and premiumisation strategy. It is a testament to Scotch whiskey's resilience, its bright future and our continued effort to open up the category to new audiences."
Results of strategic brands
Chivas RegalThe continued popularity of Chivas 12 and 18, the balance between brand growth in emerging and mature markets, and the launch of innovations like Chivas Extra 13 have contributed to positive brand results of 34%.
Ballantine'sAs a result of a very strong pricing and premiumization strategy, Ballantine's worldwide sales increased 17%, thanks to innovations such as Ballantine's 7 and American Barrel 10 Year Old, as well as the growth of its Prestige portfolio.
Royal SaluteRoyal Salute's globalization and continued diversification has led to increased enthusiasm for the brand, resulting in sales growth of 37%. The key products were the Hero 21YO collection and the market and channel exclusives. In particular, Royal Salute grew in the key regions of Asia (39%) and the Americas (38%).
The GlenlivetThe Glenlivet continued to increase its value share, with global growth of 12%, thanks to its value strategy and pricing, along with the strong performance of the Prestige range. Asia was the region that grew the most, and the rest of the world also accelerated its growth.
About Chivas Brothers
Chivas Brothers is Pernod Ricard's business dedicated entirely to Scotch whiskey. Its award-winning portfolio includes some of the world's most revered single malt and blended Scotch whiskey brands, including Chivas, Ballantine's, Royal Salute and The Glenlivet, which are exported from Scotland to over 100 countries around the world. Chivas Brothers, the world's second largest producer of Scotch whiskey, and its team of 1,600 people spread across 26 locations are committed to upholding the heritage and progress of Scotch whiskey and ensuring its sustainable future, as well as opening it up to new audiences around the world. world. Chivas Brothers was awarded the "Scotch Whiskey Producer of the Year" award at the International Wine
For more information on Chivas Brothers, visit www.chivasbrothers.com
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