Oettinger Davidoff - Strong financial year 2024
Oettinger Davidoff makes a strong start to its anniversary year. Sales in 2024 reach CHF 541.7 million. Adjusted for currency effects, this corresponds to an increase of 0.9 percent. Own brands show stable performance. The main growth driver remains the core brand Davidoff. The company celebrates its 150th anniversary in 2025.
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CEO Beat Hauenstein explains: "The strong results of recent years show that our company is better positioned today than ever before."
Zino achieves double-digit growth
In the private label business, the Zino brand had another exceptional year (+28.1 %), while the Davidoff brand remained stable and achieved an outstanding performance, particularly in the accessories business, with sales up 15 % on the previous year. The successful financial year 2024 was driven in particular by the good results at Wolsdorff Tobacco (Germany) and the Asian duty-free business. In addition, the third-party business continued to perform solidly.
In 2024, 38.5 million cigars were produced, 21 percent fewer than in the previous year. This decline is strategically planned. Parts of production were brought forward in order to meet the EU Track & Trace requirements on time from May 2024.
Expansion in the Dominican Republic and Honduras
In February 2025, the production facility in the Dominican Republic was expanded and capacity doubled. The expansion of the factory in Honduras began at the same time. This is the company's response to global demand.
Entrepreneurial spirit and gratitude
CEO Beat Hauenstein emphasizes the company's pioneering spirit, vision and resilience. He thanks employees, partners, customers and aficionados worldwide for their loyalty and support.
Investing in quality and experience
The Davidoff flagship stores in Basel and Monaco have been modernized. The store on Madison Avenue in New York is currently being renovated. New sales outlets are being built in Sydney and at the airports in Madrid, Lima and Jeddah.
Sustainability and responsibility
Oettinger Davidoff strengthens its ESG commitment in 2024. A comprehensive human rights policy was introduced. The first human rights report has been published. Suppliers were included. The company commissioned a large solar plant in Honduras.
Aspire727 - Paving the way for the future
The year 2025 marks a double milestone for Oettinger Davidoff: the 150th anniversary of the company and the halfway point of the Aspire727 strategy. Against this backdrop, the company is reaffirming its ambitious targets: By 2027, sales and profitability are to be sustainably increased and the company's leading position as the world's leading manufacturer of handmade premium cigars is to be further expanded.
CEO Beat Hauenstein explains: "The strong results of recent years show that our company is better positioned today than ever before. I am convinced that we will achieve our ambitious goals - through consistent, clear and focused implementation of the Aspire727 strategy in our four core areas: Brand, Sales, Execution and Leadership and Culture. This will create the basis for sustainable growth and long-term success - for our company and our brands."
About Oettinger Davidoff
Oettinger Davidoff is an independent, family-owned company based in Basel. It employs over 4,000 people worldwide. The company produces, markets and distributes premium cigars, tobacco products and accessories. The brand portfolio includes Davidoff, AVO, Camacho, Cusano, The Griffin's, Private Stock, Zino and Zino Platinum. The Group also distributes well-known brands such as Haribo in Switzerland. The "Crop-to-Shop" philosophy guarantees complete vertical integration. The tobacco comes from the Dominican Republic and Honduras. Worldwide, the network comprises 65 flagship stores and satellites as well as authorized dealers in over 130 countries.
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