Oettinger Davidoff delivers steady growth in landmark anniversary year

SWITZERLAND. Oettinger Davidoff achieved CHF541.7 million (US$663.7 million) in 2024 sales, a +1% year-on-year increase as it celebrates 150 years in business.

The strong 2024 performance extends the momentum of the past two record-breaking years for the family-run business.

Within the brand portfolio, Zino recorded sharp year-on-year growth of +28.1% in 2024, while Davidoff posted a notable +15% increase in accessories sales.

The group attributes its successful year to strong performances at Wolsdorff Tobacco (Germany) and the Asian duty-free business.

In addition, the company’s third-party operations sustained positive momentum throughout the year.

Oettinger Davidoff CEO Beat Hauenstein said, “The year 2024 was another strong year in the 150-year history of our family-owned company. The solid 2024 results prove that our investments in our brands, retail and shopping experiences have paid off and that we are well set up to successfully continue writing the next chapter of our longstanding history.

“Our journey has been driven by a clear vision, bold decisions, while demonstrating resilience, pioneering spirit and leadership in innovation. As we celebrate our 150-year jubilee, we remain committed to our values – passion, innovation and integrity – and to delivering excellence in all we do.

“I would like to express my heartfelt thanks to our employees, business partners, customers and aficionados around the globe for their trust and loyalty and for being part of our story.”

Despite a -21% year-on-year decline in tobacco production in 2024, the company continued to strengthen its operations with the handcrafted output of 38.5 million cigars across its facilities in the Dominican Republic and Honduras.

The decrease was a result of advancing production timelines to meet EU Track & Trace requirements that started to take effect in May 2024.

Anticipating increased demand for its handmade premium cigars, the company is set to open fermentation and storage halls at its Danlí, Honduras site this autumn, building on the opening of its Dominican Republic plant in February.

Driving success through strategic investments

Oettinger Davidoff is ramping up investments in its own brands, with a strong focus on Davidoff and Zino, to deliver innovative blends and products to consumers across its global trade network.

As reported, the ‘Davidoff of Geneva since 1911’ flagship store at Marktplatz in Basel has been redesigned in preparation for the 150th anniversary.

Flagship stores on Madison Avenue in New York and in Monaco are also being fully renovated, while stores are set to open at key travel retail locations, including airports in Madrid, Lima and Jeddah.

Corporate responsibility and due diligence

In line with its growth strategy, Oettinger Davidoff is reinforcing its ESG priorities, placing greater emphasis on Human Rights Due Diligence to uphold quality and responsibility throughout its value chain.

Marking a key advancement, the company launched its Human Rights Policy and Report, while maintaining transparent, direct dialogue with key suppliers on human rights issues.

In addition, the company installed a large-scale solar energy generating system at its manufacturing site in Honduras.

Aspire727 strategy

Alongside its anniversary celebrations, Oettinger Davidoff is advancing the next phase of its Aspire727 strategy, targeting profitable, sustainable growth and bolstering its category leadership by 2027.

Hauenstein said, “The good results of the last years demonstrate that our company is stronger than ever. I am confident that with a continued, clear and focused execution of Aspire727 in our four aspiration areas – brand, sales, execution, and leadership and culture – we will achieve our ambitious goals and ensure sustained growth and long-term success for our company and our brands.”