The activities for the 55th anniversary of the Cohiba brand, flagship product of the Spanish-Cuban Habanos cigar company, culminated this Saturday with an auction of humidors which raised a total of 2.9 million euros.
The three days of activities in Havana concluded with a gala dinner in which two humidors, typical cases for the conservation of cigars, were auctioned off. The largest of them, with 550, obtained the highest bid achieved in a brand event to date, with 2.8 million euros.
The celebration of #Cohiba55 comes to an end with a Gala Evening celebration in Havana, Cuba. During the event, in addition to many other surprises, two unique humidors in the world were auctioned for which 2.9M€ were raised, funds that will go entirely to Cuban Public Health. pic.twitter.com/ggOAy5SoaB
— Habanos SA Oficial (@Habanos_Oficial) September 10, 2022
The organizers explained that, as on other occasions, the proceeds from the auction will be used entirely to support the Cuban health system, according to an EFE report. At the gala dinner, with some 650 guests, James Morrison, Miguel Patterson, Manolito Simonet, Haila and Lily Daly performed, among other artists.
During the final ceremony of the commemoration, the World Habano Man awards were also presented. Among the winners was Ángel García Muñoz, former deputy director of the EFE news agency.
The company
According to data provided to the Spanish news agency by the company, in 2021 the turnover led to 568 million dollars, an increase of 15% compared to the previous year.
“Demand for our product has even continued to grow and, operationally, Habanos has been able to meet that demand,” José María López Inchaurbe, vice president of development at the firm, told this source.
Meanwhile, for Leopoldo Cintra González, commercial vice president, the markets of the Middle East and Africa were just as important, since last year they were able to access the limited edition of the Cohiba for its 55th anniversary.
The fall in the world economy due to COVID-19 did not reduce the figures of Habanos, according to the company, which was able to “adapt” to the new times, according to statements by both officials.
“The good news is that, although our product is social, obviously during these two years we had to adapt to other much more individual consumption habits. But the consumer accompanied us,” said López Inchaurbe.
Along the same lines, Cintra added that the firm managed to “continue opening specialized points of sale.” Last year they exported 38 new products.
In addition, the El Laguito factory, in the Cuban capital and where the company’s main brand is produced exclusively by hand, in 2022 expects to reach 2 million units.
The main markets for Habanos last year were, as in 2020, China and Spain. Europe was the leading region (59%), followed by Asia Pacific (16%), the Americas (14%), and Africa and the Middle East (11%). The United States does not appear because it cannot trade there due to the U.S. trade embargo imposed on the Caribbean island for six decades.
The largest cigar company in the world markets 27 brands, all made by hand, including Cohiba itself, Montecristo, Partagás, Romeo y Julieta, among others.
Despite this, Cuba is not going through its best moment in terms of tobacco production. The Cuban state company Tabacuba, owner of 50% of Habanos, as the report points out, reported last August that production from January to June was less than half of what was planned.
The situation, which follows the one experienced in 2021, has caused “instability” in the “distribution in the retail sales network” of cigars within Cuba, according to the official Granma newspaper.
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Although the firm is dedicated solely to the marketing of its premium products, Cintra admitted that these are “difficult” circumstances and, nevertheless, added that they are willing to collaborate with the industry wherever possible.
Founded in 1994, Habanos is present on five continents and established in more than 150 countries, according to the company.
EFE/OnCuba
