Chivas Brothers Confirms Strongest Financial Performance In A Decade
The Scotch Whisky label scores +17 percent growth in net sales
Chivas Brothers, the Pernod Ricard business dedicated to Scotch whisky, has announced its FY23 (July 2022 to June 2023) full-year performance with net sales going up +17 percent, its best performance in the last decade. The results demonstrate ongoing strong global demand for Scotch and reinforce the company’s long-term premiumisation strategy.
Growth In All Sectors
Alongside this positive growth, Chivas Brothers also announces more than £60 million (about RM350 million) in planned investment over the next three years to accelerate its energy and carbon reduction journeys to achieve carbon neutral distillation by the end of 2026. This follows the company’s move to make its heat recovery technology learning open source for the industry.
Additionally, Chivas Regal celebrated global growth of +25 percent, with impressive performance in markets such as India and Japan. This success was driven by its core aged range, with Chivas Regal 18 the leading 18-year old blended Scotch globally by both volume and value in calendar year 2022 according to IWSR Drinks Market Analysis 20221.
The Asia region has been particularly robust, with +21 percent growth in FY23, and the number one contributor to growth overall. India (+27 percent), South Korea (+19 percent), Japan (+28 percent) and Greater China (+7 percent) have also seen exceptionally strong performances and are driving demand with new Scotch audiences.
The North American market has seen stellar growth in a highly saturated market, with +8 percent growth. The US and Canada saw 8 percent and 7 percent growth respectively. This shows that demand for the brand and its products is significant all across the globe and proves the quality and desirability of these products beyond a shadow of a doubt.
While driving down its carbon footprint, Chivas Brothers will also invest in strategic inventory management, ensuring a future-fit model that continues to meet the demand for its Scotch whiskies around the world.
Visit the Official Chivas Brothers Website to find out more.