Oettinger Davidoff AG has announced its 2018 financial results.
The company said it generated revenues of CHF 500 million ($503.2 million), virtually identical to 2017’s revenue of CHF 501 million.
However, it reported that the eponymous Davidoff brand increased sales by 4.6 percent, AVO sales were up 15.6 percent and Camacho increased by 7.4 percent.
In addition to its cigar brands, Davidoff operates a number of stores around the world. It said that it will open up an additional franchise store in Shenzen, China and another licensed boutique in the U.S., though declined to specify where. The company also owns other tobacco retail chains, notably Wolsdorff Tobacco GmbH, a chain of over 170 stores in Germany, and A. Dürr & Co. AG in Switzerland, which includes 28 stores.
Last year marked the first full year of the company under the leadership of Beat Hauenstein, ceo and Domenico Scala, chairman. In addition, the company moved Jim Young, who had led the company’s North American operations, to Europe and promoted Dylan Austin to head its U.S. and later Americas operations.
Like many other large cigar companies, Davidoff is in the midst of an efficiency and cost-cutting program titled “Way Forward.”
Oettinger Davidoff AG is a privately-held company, though it has typically announced its annual revenues.