The exports of Cuban cigars have recorded a remarkable increase in 2023. This significant growth reflects a growing demand for luxury on a global scale. Despite challenges, including the pandemic and the devastation caused by a hurricane in 2022, the Cuban tobacco industry is gradually recovering, offering a glimmer of hope for the island’s economy.
Cuban Cigars, a Thriving Luxury Pleasure! International sales of the flagship of the Cuban national industry saw remarkable growth in 2023. Habanos S.A., the company responsible for exporting these famous cigars, announced a significant increase of 31% compared to the previous year.
“In 2023, Habanos S.A. achieved a turnover of $721 million, representing a 31% increase in value compared to 2022,” said Jorge Pérez Martell, the company’s commercial vice president.
Habanos S.A. is a joint venture equally owned by the Cuban state and Tabacalera SLU, based in Spain. After being owned by the British group Imperial Brands for a long period, Tabacalera has been under the control of a consortium of Asian investors since 2020, operating under the name Allied Cigar Corporation.
Growing Demand for Luxury
This surge is attributed to a growing global demand for luxury products.
“With the end of the pandemic, the luxury market in general, and the consumption of high-end cigars in particular, has experienced a very strong growth in demand in all regions,” said José Maria Lopez Inchaurbe, vice president in charge of development, on the first day of the 24th International Havana Cigar Festival.
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Featured photo : © Habanos SA
