Campari Posts 27% Sales Growth, Propelled By Strong U.S. PerformanceOctober 26, 2021
Campari Group saw sales climb 27% to €1.6 billion ($1.86b) in the nine months through September, marking the first three quarters of its fiscal year, as adjusted EBIT rose 54% to €360 million ($418m). The company credited a robust showing during the summer selling season combined with the rebound of the on-premise and ongoing off-premise strength as contributing to growth for the period.
In the U.S., Campari’s largest market, sales jumped 23%, led by double-digit progress for Espolòn, Grand Marnier, Wild Turkey, Aperol, and its Jamaican rums. While Campari noted that its off-premise business in the U.S. is running up against tough comps from last year, it added that its 37% off-premise growth versus the same period in 2019 has outpaced the market.
In announcing the results, Campari CEO Bob Kunze-Concewitz highlighted the “recovery in the on-premise driven by ‘revenge conviviality’ combined with sustained home consumption trends,” and said the group expects its solid brand momentum and positive price mix to continue in the fourth quarter, “helping to partially offset the intensifying input cost pressure, particularly logistics costs, and accelerated brand building investments.”—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.