June 2025: Oettinger Davidoff reports CHF 541.7 million revenue in 2024
Following the record results in 2023 and 2022, Oettinger Davidoff’s sales turnover grew +0.9% in 2024 in real terms to CHF 541.7 million despite global economic challenges and a volatile market environment. In the own brand business, Zino brand delivered +28% annual growth while the overall sales of the core Davidoff brand remained stable thanks to +15% growth in the accessories segment (largest growth contributor to the corporate results). FY24 results were particularly driven by the Wolsdorff Tobacco (Germany) and the Asian duty-free business. Additionally, the third-party business continued to show steady momentum.
With a total of 38.5 million cigars handmade in the Dominican Republic and Honduras in 2024, production remained strong despite a 21% decrease versus 2023 – mainly due to the strategic preponement of the cigar production to anticipate the requirements imposed by the entry into force of Track & Trace in the European Union in May 2024. In view of the rising demand for handmade premium cigars, Oettinger Davidoff expanded the manufacturing site in the Dominican Republic in February 2025 (which doubled the production capacity) and intiated an expansion in the production site in Honduras.
In 2024, Oettinger Davidoff renovated the Davidoff of Geneva since 1911 flagship stores in Basel (Switzerland) and Monaco. The Madison Avenue flagship store in New York City is currently under renovation. Furthermore, the Company is expanding its retail footprint with new store openings around the globe, such as in Sydney and at the airports in Madrid, Lima and Jeddah.
2025 marks Oettinger Davidoff’s 150th anniversary and the midpoint of its Aspire727 strategy which is formulated to sustainably grow sales & profits by the year 2027 and further strengthen the Company’s position as the world’s leading manufacturer of premium handmade cigars.
Company Profile: Oettinger Davidoff
Established in Basel (Switzerland) in 1875, Oettinger Davidoff is one of the largest privately-owned tobacco companies in the world with over CHF500 million annual sales and over 4,000 employees. The Company mainly operates in the production, marketing, distribution, and retailing of premium branded cigars, tobacco products and accessories. The premium-branded cigar business includes Davidoff, AVO, Camacho, Cusano, The Griffin’s, Private Stock, Zino and Zino Platinum. Oettinger Davidoff is also the sole agent of many brands in several countries, including Haribo in Switzerland. Its business is anchored in “crop to shop” philosophy – vertically integrated from the tobacco fields in the Dominican Republic and Honduras to a global network of 65 Davidoff flagship stores & satellites and over 700 appointed merchants in more than 130 countries. Corporate website: www.oettingerdavidoff.com
