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Jägermeister grows FY sales by 8.1%
Mast-Jägermeister, the parent company of Jägermeister liqueur, grew its sales to €961.7 million (US$1 billion) excluding spirits tax for 2023.
The company revealed it sold 9.2m nine-litre cases of its flagship digestif in the financial year.
The results are the second-best in the company’s history, second only to 2022. According to Brand Champions data, Jägermeister sold 9.4m cases in 2022.
The parent company has had a stake in Dwayne ‘The Rock’ Johnson’s Teremana Tequila since 2022, which recently announced it was expanding its global presence.
Teremana’s volume sales rose by 36% to 1.25m nine-litre cases in 2023.
Mast-Jägermeister also has a stake in ultra-premium brand Gin Sul, however it did not comment on the brand’s sales in its results.
The firm noted that the market situation in the past year suffered from ‘political and economic instability’ and added that sales were slowed by stockpiling following the pandemic.
The Jägermeister brand offset declines in individual markets by achieving growth in other regions, in particular Western and Eastern Europe and Asia.
Sales in the UK and Germany were stable, while the US showed declines. While China showcased double-digit growth, the company said it was yet to fully rebound to pre-pandemic levels.
Global travel retail also saw a double-digit growth in revenue, a repeat on the previous year.
Future outlook
Mast-Jägermeister added that it has invested in supply chain expansion, including a new bottling line for miniatures and a new barrel storage facility.
A second distillery is also under way for Teremana Tequila.
The firm also revealed that production capacity for Gin Sul was tripled in 2023.
Michael Volke, CEO, said: “We are cautiously optimistic about achieving a stable, high result with our core brand Jägermeister, even amid the fragility of the consumer climate in many markets.
“We have accumulated significant expertise in internationalising a premium spirit with Jägermeister. Now, we will leverage that knowledge to successfully introduce Teremana into new markets worldwide.”