Beam Suntory’s Sales Rise 11% In 2022, Including 8% Gain In North AmericaFebruary 15, 2023
Beam Suntory saw net sales rise 10.5% last year, showing 24% growth versus the pre-pandemic year of 2019. The company’s premium brands grew 15% in 2022, and now represent more than half of the group’s “full-bottle” spirits sales for the first time. RTD sales grew 16%, driven by gains in the U.S., Japan, and Australia.
Beam Suntory’s North America sales were up 8% versus 2021, even as the company noted softening market conditions in the U.S., adding that it’s gaining share in the premium-plus segment. According to Impact Databank, Hornitos Tequila was a key growth driver for Beam Suntory in the U.S. last year, up 12% to 1.7 million cases. Basil Hayden Bourbon (+11% to 530,000 cases) and On The Rocks cocktails (+37% to 570,000 cases) were also strong contributors.
Among other key brands, Jim Beam grew at a single-digit rate globally, Beam Suntory said, and Maker’s Mark grew 11%. Roku, Hibiki, Yamazaki, Bowmore, Knob Creek, and Tres Generaciones all delivered double-digit sales gains. “The quality of these results is clear and reflects our strategy to premiumize our spirits portfolio, build RTD leadership, and focus on value over volume,” said president and CEO Albert Baladi. “We delivered these results despite significant challenges including supply chain disruptions, record inflationary pressures, our withdrawal from Russia, and restrictive Covid policies in China.” Further premiumization and an acceleration in RTDs are planned for 2023, the company added.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
Tagged : Beam Suntory, Bowmore, Hibiki, Jim Beam, KnobCreek, Maker's Mark, Roku, Yamazaki
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