Amber Beverage sees ‘strong’ sales growth
Luxembourg-based Amber Beverage Group (ABG) enjoyed ‘strong’ double-digit growth in its 2021 fiscal year as Tequila sales soared.
ABG saw net sales grow by 14% to €307 million (US$328.8m) in 2021, with an extra €37m (US$39.5m) in net revenue generated on an organic basis.
The company’s Tequila portfolio ‘outperformed expectations’, as volumes of Kah Tequila shot up by 35%.
Stablemate Rooster Rojo Tequila also had an ‘outstanding’ year, ABG said. The brand generated more than €3.7m (US$4m) in revenue last year.
The group attributed Kah and Rooster Rojo’s success to ‘clear and refreshed’ strategies for each brand. The US, Australia and Europe were noted as key markets for the brands.
Jekaterina Stuģe, chief executive officer of Amber Beverage Group, said: “Acknowledging the change in consumer preferences, new market trends and keeping in mind our ambition of becoming one of the top 10 global spirits industry players, at the beginning of 2021 we developed a strategy, named Sirius25.
“The strategic plan was so named because Sirius is one of the brightest stars in the night sky. Sirius25 defines the framework of our approach for ABG’s brand-building in domestic and international markets, outstanding management of third-party brands, and excellence in production processes.”
The gross margin for Moskovskaya Vodka last year was €5.5m (US$5.9m). Meanwhile, Riga Black Balsam delivered 16% volume growth in 2021 compared with the previous year.
Cross Keys Gin, meanwhile, sold more than 6,000 nine-litre cases in 2021; the brand was able to expand into new markets.
In November last year, ABG acquired Walsh Whiskey, parent company of The Irishman and Writers’ Tears Irish whiskey brands.
Internationally, ABG experienced 75% volume growth in 2021 compared with 2020. The company opened 10 new markets and identified more than 40 ‘strategic markets’.
Stuģe added: “These results show the ambition, dedication and great efforts of the ABG team working in Europe, Australia, the Americas and Asia.
“On behalf of the management team, I take this opportunity to send my gratitude to all our colleagues within Amber Beverage Group.”
Throughout the rest of 2022, ABG will focus on brand management and taking its Irish whiskey brands to the ‘next level’ by using its own route-to-market global network.
ABG will also soon launch a new addition to its Riga Black Balsam brand, which will mark a ‘new turning point’ for the historic brand, which can be traced back to 1752.