BCP News Brief – Delays For Fuente, Davidoff Sees Increase In Yearly Sales
Arturo Fuente has announced a delay in release for a number of cigar projects that were intended to debut in 2012 to commemorate the brand’s 100th anniversary. An image on the Arturo Fuente website surfaced late last week explaining the delays as thus:
To Our Friends,
There are times when fate has other plans for us, and this is one of those times.
As you know, we planned to celebrate the 100th Anniversary of Arturo Fuente cigars this year with several special events. However, fate stepped in and handed us a series of personal and professional challenges that have made this year a trying time. As a result, we have decided to postpone our celebrations for a year. In 2013, we plan to celebrate “YEAR ONE” of the next century of the Arturo Fuente Family of cigars. We look forward to sharing the next century with you.
Carlos P. Fuente, President
The statement refers to a handful of Fuente cigars that were slated to debut this year, including the 8-5-8 Aniversario, a new line called the Casa Cuba, a Don Arturo Aniversario, and the Fuente Fuente Opus X Angel Share line, among others. A time-frame for the upcoming releases has not yet been announced, and some speculation has been raised as to the specific cause of the delays, with some citing the company’s major crop loss last August to be a contributing factor.
In other news, cigar industry leader Oettinger Davidoff has reported an increase in annual sales in both the Asian and U.S. markets, according to Rueters.com. A company spokesperson was quoted as saying, “Asia is growing strongly, as did our single biggest market, the U.S., while Europe, with the exception of Spain, held up well.”
The group’s Chief Executive Hans-Kristian Hoejsgaard stated that, with production volumes totaling 34.4 million cigars, the group managed to hold on to a respectable market share – nearly 7 percent – in a global market that is estimated at less than 500 million pieces. “We are very pleased with results achieved in a market which becomes regionally more and more regulated,” he said in a full-year trading update.
Davidoff, like many other Swiss companies, has suffered from the strength of the Swiss franc, however, the negative effect was offset by strong demand from Asia, the company said.