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Chivas Brothers announces strong sales
Chivas Brothers, the Scotch whisky arm of Pernod Ricard, has announced net sales were up 17% in the year to the end of June 2023.
Alongside the growth, which was a ten year high, Chivas Brothers also announced more than £60m in planned investment across the next three years to accelerate its energy and carbon reduction journey, achieving carbon neutral distillation by 2026.
It follows the company’s move to make its heat recovery technology learnings open source for the industry, after proving successful at Glentauchers distillery, with a 53% reduction in carbon emissions at this site alone.
US and India performance
The Asia region has see 21% growth, and as a result is the number one contributor to growth overall with Chivas. Japan was especially strong with 28% growth, followed by India at 27%, South Korea on 19% and Greater China growing 7%.
The North American market also grew 8% growth with a split between the US and Canada of 8% and 7% respectively.
Core ranges
The company had global growth of 25%, with its core aged range, including Chivas Regal 18, performing strongly and a leading contributor to the overall Pernod Ricard Group’s growth in the financial year.
Ballantine’s grew by 13%, driven by particularly strong growth in its prestige range, with Ballantine’s 21 and Ballantine’s 17 key drivers alongside Ballantine’s Finest, with the Asia region excelling during this fiscal year, it said.
Royal Salute recorded 32% growth, as the brand included exclusive luxury releases, such as the Royal Salute Coronation of King Charles III Edition. It also showed particularly strong growth in the US, along with double digit growth in core Asian markets including Korea, India and the Taiwan Market.
The Glenlivet grew 9%, and was the best-selling single malt by volume in 2022, driven by significant demand for its super premium and ultra premium ranges. Specialty brand Aberlour also grew 11%.
Historic highs
Chivas Brothers chairman and CEO, Jean-Etienne Gourgues, said: “The historic highs we’re seeing across our strategic brands signal the success of our premiumisation strategy which has enabled Chivas Brothers to outperform the market. Our highest growth of the last decade reinforces our position to shape the future of sustainable Scotch while continuing to meet demand.
“We have fast-tracked a number of sustainability initiatives to meet our own ambitious targets and remain committed to supporting the industry in ushering in this new era —as we demonstrated earlier this year by making our heat recovery findings open source.”