The growth showed in the company’s sales, too, which will go beyond EUR30 million this year.
“2016 is the best year after 2008. The stability of the market and a proper tax framework were the main vectors that led to this result. We launched a relatively high number of brands such as Ostoya vodka, Becherovka bitter and Monkey 47 gin,” Tudor Furir, managing director of Pernod Ricard Romania, said.
The spirits market saw several years of decline, as a result of the financial crisis, which hurt consumer spending, and the excise duty hike from EUR750 per hectoliter of pure alcohol to EUR1,000 in 2013, which drove prices and black market up. With the new Fiscal Code, which came into force this year, the excise duty returned to EUR750, which helped the market rebound. The spirits black market stands at 170 million liters a year, or 75% of the total spirits market, Spirits Romania association data show.
Pernod Ricard’s brand portfolio includes Chivas Regal, Ballantine’s, Jameson and Canadian Special Old whisky, Exquisit and Absolut vodka, Havana Club rum and Beefeater gin.
Tudor Furir expects the company to see more than EUR30 million revenue this year, as well as 10% to 15% growth in 2017.
(English version by Loredana Fratila-Cristescu)