Beam Suntory First-Half Sales Rise 12% on Strong Demand for Premium Brands and On-Premise Recovery

Beam Suntory First-Half Sales Rise 12% on Strong Demand for Premium Brands and On-Premise Recovery

Global premium spirits company drives double-digit growth across US, Europe, Oceania, India, China and Emerging Asia

CHICAGO – August 13, 2021 – Beam Suntory, a world leader in premium spirits, reported results for the first half of 2021, reflecting a stronger-than-expected rebound in key markets and excellent performance for premium brands. Net sales increased 12% for the maker of Jim Beam® and Maker’s Mark® bourbon, Courvoisier® cognac, and Hibiki Japanese whisky, as the company benefited from double-digit sales gains in markets including the United States, Canada, EMEA, Oceania, India, China, Emerging Asia and Global Travel Retail. First-half 2021 sales were 8% above the first half of 2019, the comparable pre-pandemic period.

“I’m very proud of the work our teams have done to secure our supply chain, protect our people, meet consumer needs, and anticipate long-term trends throughout the pandemic, and I believe our results reflect that,” said Beam Suntory President & CEO Albert Baladi. “With a focus on premiumizing our business, accelerating key growth platforms, becoming a truly purpose-driven company and supporting our people, we have been able to meet consumers where they are, and do good for all of our stakeholders.”

Results by brand demonstrate the success of Beam Suntory’s premiumization strategies, as Maker’s Mark® and Basil Hayden® bourbon, Courvoisier® cognac, Hibiki Japanese whisky, Laphroaig® and Bowmore® Scotch whisky, Roku gin, and Hornitos® tequila grew at double-digit rates for the first half. Sales of On the Rocks® premium cocktails increased four-fold. Beam Suntory fueled double-digit growth of ready-to-drink beverages through the launch of innovative new products, and the company announced a US-based partnership with Boston Beer Co. in July to further build strength in this important market segment. Investments to expand eCommerce capabilities further accelerated results.

By region:

North America sales grew 12%, powered by a faster-than-anticipated on-premise recovery and double-digit sales growth in the United States.
International region sales grew 32%, reflecting robust double-digit growth in markets including Germany, UK, Spain, Russia, Australia, India and Global Travel Retail. 
Sales in Asia increased 6%, with double-digit growth in China and Emerging Asia, partly offset by relatively level sales in Japan, which represents approximately one-third of company revenues, and where pandemic-related restrictions adversely impacted on-premise sales.
 

In April, Beam Suntory launched Proof Positive, the company’s first enterprise-wide sustainability strategy, representing more than $1 billion in investments to positively impact the environment, consumers and communities, including ambitions to:

Reduce greenhouse gas emissions by 50%, reduce water use per unit of production by 50%, use 100% recyclable packaging, and plant more trees than used in barrel production by 2030, and go beyond net-zero carbon emissions, work only with suppliers using sustainable practices, and replenish more water than used in direct operations by 2040 
Invest $500 million to promote responsible decisions and positively impact behavior relating to alcohol, enable expanded choices with low- and no-ABV products, and provide nutrition information on 100% of the company’s products by 2030
Contribute 1 million cumulative volunteer hours, foster greater diversity, equity and inclusion, build stronger communities, promote social justice and more

Beam Suntory has further been recognized as a “Great Place to Work” in the U.S., Singapore, Canada, Korea, China, Mexico, India, Spain and Australia in the current cycle. The company has also been honored as a “Best Place to Work” for LGBTQ Equality and a “Great Place to Work” for women in China.

“The strategic investments we’re making, and the powerful commitment of our people, are helping us build broad-based momentum, and I’m confident we will remain at the forefront of the recovery in our markets,” Baladi said. “Even with the challenges and uncertainty the pandemic still presents, we will continue to be guided by our proven strategy and values-based approach as we pursue our ambitious growth goals and sustainability targets.”

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About Beam Suntory
 

As a world leader in premium spirits, Beam Suntory inspires human connections. Consumers from all corners of the globe call for the company’s brands, including the iconic Jim Beam® and Maker’s Mark® bourbon brands, Suntory whisky Kakubin and Courvoisier® cognac, as well as world renowned premium brands including Knob Creek®, Basil Hayden’s® and Legent™ bourbon; Yamazaki®, Hakushu®, Hibiki® and Toki™ Japanese whisky; Teacher’s, Laphroaig® and Bowmore® Scotch whisky; Canadian Club® whisky; Hornitos® and Sauza® tequila; EFFEN®, Haku® and Pinnacle® vodka; Sipsmith® and Roku™ gin; and On The Rocks® Premium Cocktails.

Beam Suntory was created in 2014 by combining the world leader in bourbon and the pioneer in Japanese whisky to form a new company with a deep heritage, passion for quality, innovative spirit and vision of Growing for Good, which now includes its transformative sustainability strategy, Proof Positive. Headquartered in Chicago, Illinois, Beam Suntory is a subsidiary of Suntory Holdings Limited of Japan. For more information on Beam Suntory, its brands, and its commitment to social responsibility, please visit https://www.beamsuntory.com and https://www.drinksmart.com/.