Record Year At Davidoff—Company Makes 43 Million Cigars
Oettinger Davidoff AG reported a record year for 2022, posting sales of 494.1 million Swiss Francs ($550 million), up 8.2 percent over sales in 2021. The company says it made 43 million cigars by hand in 2022, a 26.3 percent increase in handmade cigar production. Sales of the company’s core Davidoff brand were up 28 percent.
The family-owned company, which is based in Basel, Switzerland, called the year “challenging, yet memorable.” It released the news in late June.
The modern-day cigar boom has clearly helped Davidoff, and the company—which is in expansion mode—sees more growth on the horizon. It said that it is increasing its capacity in the Dominican Republic, where brands such as Davidoff, Zino and The Griffin’s are rolled.
Davidoff is a global brand, and the company has nearly 4,000 employees. In addition to Davidoff, the company also owns such brands as Avo and Camacho, the former made in Honduras. Davidoff also has a global network of 65 Davidoff flagship stores and satellites and more than 700 appointed merchants in more than 130 countries.
The Davidoff Nicaragua Diadema, which is rolled in the Dominican Republic, is Cigar Aficionado’s No. 3 Cigar of the Year, with a 95-point-rating.
