Oettinger Davidoff Reports Record Year For 2023
Swiss corporation Oettinger Davidoff—parent company to Davidoff of Geneva—called 2023 a “record year” after it reported revenue growth of 10.5 percent over 2022, amounting to 546.6 million Swiss francs (about $608.8 million). Davidoff said that 2023 marked the second consecutive record year.
“The year 2023 was another record year for Oettinger Davidoff in its almost 150-year history,” stated company CEO Beat Hauenstein in an official release.
According to Davidoff, production of handmade cigars increased last year by 13.3 percent to nearly 50 million cigars. It makes brands such as Davidoff Nicaragua, Avo, Zino, Camacho and its flagship line Davidoff Signature (casually known as “the White Label”). The company pointed to its Davidoff and Zino branded products in particular as drivers for the strong gains, as both increased in 2023 by about 32 percent over the previous year. All of its cigars are produced in the Dominican Republic and Honduras.
“Thanks to the important demand for the group’s own brand portfolio, in particular for the core brand Davidoff, Oettinger Davidoff increased its total cigar production in the Dominican Republic and Honduras by 13.3 percent compared to the prior-year volume, reaching a production of 48.8 million handmade cigars in 2023,” Davidoff said.
Davidoff also cited a “stellar year” for its brand performance in Asia as well as global travel retail markets.
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