China surpasses France as world’s second biggest market for Cuban cigars
- Unlike in Europe, sales in China have not been affected by toughening anti-tobacco laws
Boosted by growing demand from China, sales of Cuban cigars reached a record US$537 million in 2018, a seven per cent increase over the previous year despite global laws against tobacco, the partially state-owned Habanos said.
“China has surpassed France as the second biggest market for Habanos” behind Spain, said the cigar company’s vice-president Jose Maria Lopez Inchaurbe.
Sales in China grew by 55 per cent with east Asia as a whole up nine per cent, said Lopez.
Marketing manager Ernesto Gonzalez said the figures showed “the strength of our sales despite the difficulties faced during the year”.
The French market was hit by a 17 per cent increase in taxes on tobacco products, which meant Habanos had to push up its prices by eight to 10 per cent, said Lopez.
Gonzalez said the impressive figures came despite the global luxury tobacco market growing by just one per cent in 2018.
