For Cuba, France is an excellent client. In 2021, she appears among the top 5 of the best cigar buyers in the world! Decryption.
A 15% growth for the export of Cuban cigars
The Corporacion Habanos S. A has just published its figures for the year 2021. Its turnover exploded by 15%, representing then 568 million dollars. Despite the Covid-19 crisis, the Cuban cigar market is doing very well.
In terms of sales volumes, the top 5 is quite surprising since the first place goes to Spain, followed closely by China, Germany, France and Switzerland. Europe is one of the main buyers, with a sales volume of almost 60%. It is then Asia-Pacific which is ahead of America with 16% against 14% for the new continent, and this, despite the embargo of the United States. Africa and the Middle East represent 11% of Habanos’ turnover.
A quality that goes beyond crisis problems
Despite the health crisis, Habanos has been able to retain its customers, but above all its production rate in order to meet the needs of consumers. Indeed, no longer able to travel, most cigar smokers got their supplies directly on the internet or from their usual distributors. Some have even invested in humidors to accumulate a small personal stock “just in case”.
In Hong Kong, cigar prices increased in May. These are reference countries for applying global tariffs. Habanos SA has therefore announced an upcoming price increase in order to match those practiced in Hong Kong.
Some vitolas will then be sold at double the price in France, such as the Behike. On average, the price increase should vary between 5 and 25% depending on the cigars from July 1st. However, the distributor remains calm, because he has confidence in the quality of his products. According to the leaders, customers will remain loyal despite a few extra euros.