Premium spirits company Beam Suntory has reported flat net sales for the year 2020, with the return to growth in the second half offsetting lower sales in the first half of the year.
While the impact of the pandemic led to lower sales in several markets, it went up at a single-digit rate in the UK.
“As we expected, consumer demand increased in the second half of 2020, even as the global pandemic continued to impact markets around the world,” said Albert Baladi, president and chief executive of Beam Suntory.
“We were able to meet consumers digitally in the emerging ‘home premise’ to support at-home cocktail-making and satisfy their expectations for convenience through increased investments in e-commerce and ready-to-drink products.”
Global sales for Jim Beam grew to surpass 11 million 9-liter equivalent cases for the first time, extending the brand’s leadership as the world’s number one Bourbon whiskey.
Sales for Basil Hayden’s bourbon, Hornitos tequila, Toki whisky and Roku gin increased at double-digit rates as premium brands saw sustained consumer.
Baladi said the company expects to drive continued improvement in sales despite the uncertainty around the the pace of recovery from the ongoing pandemic.
Baladi also noted that Beam Suntory made substantial progress reducing its environmental impact in 2020, and will soon announce a new global sustainability strategy featuring ambitious targets focused on making a positive difference for nature, consumers and communities.
Hinesh Shah
