Oettinger Davidoff has reported a solid year for 2024, achieving a sales turnover of CHF 541.7 million, a slight 0.9% increase in real terms, despite global economic challenges. The Zino brand experienced a remarkable growth of 28.1%, while Davidoff’s accessories segment grew by 15%. Key contributors to this success included Wolsdorff Tobacco in Germany and growth in the Asian duty-free market.
CEO Beat Hauenstein remarked, “2024 was another strong year in our 150-year history. Our results reflect our successful investments in brands and retail. As we approach our 150th anniversary, we remain committed to our values and grateful to our global partners.”
In 2024, the company handcrafted 38.5 million cigars in the Dominican Republic and Honduras, a 21% decrease from 2023 due to strategic production adjustments in preparation for Track & Trace regulations in the EU. A significant expansion in the Dominican Republic, set to double capacity by February 2025, and an ongoing expansion in Honduras will support future demand.
To ensure consistent quality and innovation, Oettinger Davidoff will invest further in its brands, especially Davidoff and Zino, as well as expand its global retail presence, including flagship renovations in Basel, Switzerland, and Monaco, along with new store openings worldwide.
In 2024, the company strengthened its ESG commitments by launching its first Human Rights Policy and report, focusing on due diligence and engaging with suppliers on human rights issues. Additionally, it introduced a solar energy system at its Honduran facility.
As it approaches its 150th anniversary, Oettinger Davidoff reaffirms its commitment to sustainable growth through its Aspire727 strategy, aiming to enhance its position as the leading manufacturer of premium handmade cigars by 2027. Hauenstein stated, “Our results show we’re stronger than ever, and I’m confident we will achieve our ambitious goals.”