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Beam Suntory Reports 2021 Results Reflecting Strong Growth For Premium Brands

Thursday, February 24, 2022, 12:30 Hrs  [IST]
HBI Staff | Hyderabad

Beam Suntory, a world leader in premium spirits, reported full-year 2021 results, with sales up 11% globally. These results also demonstrated strong growth versus the pre-pandemic year of 2019, with sales also up 11% over the past two years.

 

The company’s 2021 results were led by sustained strength in off-premise sales, and very strong performance in markets where bars and restaurants reopened faster than expected. Markets including Germany, Russia, Spain, emerging Asia and Global Travel Retail all grew at double-digit rates, as did China and India, key markets for Beam Suntory’s future growth ambitions. Sales in the U.S. grew high-single digits, bolstered by robust demand for premium brands. Sales in Japan, up mid-single-digits, benefited from strong demand for convenient ready-to-drink beverages like -196?, but were impacted by extended on-premise restrictions.

 

By brand, results underscore the strength of consumer interest in premium brands. Sales grew double digits for brands including Maker’s Mark?, Basil Hayden?, Knob Creek?, Booker’s? and Legent? bourbons, Laphroaig?, Bowmore? and Auchentoshan? scotches, Hibiki?, Hakushu? and Toki? Japanese whiskies, Sipsmith? and Suntory? Roku gins, and El Tesoro? and Hornitos? tequilas, while On the Rocks? (acquired in 2020) continued to show exceptional growth. Beam Suntory’s flagship Jim Beam? also demonstrated solid growth despite glass supply constraints affecting certain bottle sizes.

 

“We’re immensely proud of the results our business has been able to deliver in the face of historical challenges related to the pandemic, including on-premise closures and supply chain constraints,” said Albert Baladi, president & CEO of Beam Suntory. “Our results underscore the strength of our premiumization strategy that relies on exceptional quality, superior storytelling, and executional excellence across consumer touchpoints.”

 

“Our confidence in the future is reinforced by the strategic moves we’re making, with accelerated investment in our business -- including capacity, capabilities and our sustainability agenda -- the 2021 acquisition of our route to market in Spain, and our upcoming joint innovations with Boston Beer. The people of Beam Suntory look forward to delivering another year of outstanding performance in 2022.”

 

Beam Suntory launched Proof Positive in 2021, the company’s comprehensive sustainability strategy, representing a $1 billion+ commitment to making a positive impact on nature, consumers and communities.

 
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