Suntory’s Spirits Business Up Single-Digits In H1

Suntory Holdings saw revenues in its beverage alcohol unit, which includes Suntory Global Spirits, increase 3.5% to $3.4 billion in the first half of the year, with operating profit rising 18% to $725 million. The company said solid spirits growth across a variety of global markets “offset the challenging environment in the U.S., such as downward market trends and changes in retail’s inventory strategies.”

Suntory brands including Japanese whiskies Yamazaki and Hibiki, Jim Beam Bourbon, and RTD cocktail On The Rocks posted first-half gains, and the company also got a boost from the rollout of the vodka-based -196 RTD label across the U.S. and other global markets.

Suntory Global Spirits, formerly known as Beam Suntory, had sales of $5.6 billion in calendar 2023, and has set the goal of reaching $10 billion by 2030. “First and foremost, the company will drive value as one global team and focus on key priorities including American whiskey, Japanese spirits, Scotch, Tequila, and ready-to-drink,” Suntory Holdings CEO Tak Niinami told SND in May.—Daniel Marsteller

Tagged : -196, Hibiki, Jim Beam, On the Rocks, Suntory, Yamazaki

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