On occasion of the farewell of the year, Álvarez specified that from July 2023 to June 2024, the brand grew 8.0 percent internationally and 55 percent in value, driven by higher-value products, where consumers seek higher-quality rums, often older than seven years.
Despite the adverse national and international context, he stressed, the greatest progress is recorded by the contribution of the Cuban market, given the consolidation of premiumization, which allows for more value to be entered with less box volume.
Although “we have decreased the level of billing in nine-liter boxes by around 45 percent. The growth in value is very significant because it is double digits, we closed yesterday with almost more than 55 percent growth,” he said.
Regarding sales, he explained that despite the effects on foreign currency income, from its historical national clients, e-commerce contributed to increasing dividends through the Havana Club online store.
From there, they market the products successfully, purchases are made with international cards, either from abroad or within Cuba, which allows the company to obtain liquidity, he argued.
He added that due to the blockade, there is currently no access to users who reside in the United States (a market that represents almost 40 percent of spirits in the world).
In another order, Alvarez indicated that despite the decrease in sugar production levels in Cuba, the Azcuba Business Group prioritizes the volumes necessary for the production of the brand’s rums. “The country is focused on respecting the vital raw material to maintain the designation of origin.”
Referring to the company’s sustainability strategy, he said that projects such as MICA are being implemented, with which they intend to take advantage of the waste from the fermentation process and solar panels have been installed to generate energy.
Finally, he announced a collaboration with Habano S.A. to present a limited edition at the next Habano festival and a new image of the iconic range which could be introduced in Cuba in mid-2026.
ef/mem/tdd
