Rum sales climbing again
Rum and spirit sales in Jamaica for the brands owned by Campari Group grew to €50 million ($9.1 billion) over six months ending June, a double-digit spike whether compared to 2020 or even pre-pandemic levels in 2019.
The spirits company based in Italy said the sales performance reflected increased consumption by locals and tourists.
Jamaican subsidiary J. Wray & Nephew Limited produces and sells Appleton Estate and Wray & Nephew rums, locally and internationally, and is the dominant spirits operator in its home market.
The company experienced “positive growth against an easy comparison base, thanks to resilient off-premise performance and some initial recovery of the local tourism sector – driving on-premise consumption,” said Campari on Tuesday.
On-premise consumption relates to drinking at bars and restaurants, while off-premise encapsulates households, or areas away from stores or supermarkets that sell alcohol.
Jamaica registered overall sales growth 33.9 per cent relative to 2020 and 20 per cent relative to 2019.
Group results for Campari also rose by one-third to €1 billion over six months, relative to 2020, and 22 per cent when compared with 2019.
Campari cautioned, however, that the rise of COVID-19 variants are potential headwinds going forward.
“Whilst uncertainty linked to the spread of COVID variants and the possible reintroduction of new restrictive measures persists, we remain confident about the continued strong brand momentum, fuelled by sustained marketing investments, accelerating in aperitifs peak season,” said Campari Group CEO Bob Kunze-Concewitz in statements accompanying the company’s financial results.
Campari said the Jamaica rum portfolio performed well outside its home market, especially in Canada, United Kingdom and United States.