Business & Economy

Habano Festival sets new auction record as Trinidad celebrates 55th anniversary

Havana, Mar 2 (EFE).- An auction of seven humidors, Cohiba, Trinidad, Partagás, Montecristo, H. Upman, Romeo y Julieta and Hoyo de Monterrey raised a total of 17,800,000 euros at the closing of the 24th Habano Festival, which celebrated the 55th anniversary of the Trinidad brand, surpassing last year’s record of more than 11 million euros.

The proceeds will go to the Cuban public health system, Habanos S.A. announced at the gala evening of its festival. The company distributes 27 premium brands and saw a turnover of 721 million dollars in 2023, its thirtieth anniversary, up 31% compared to the previous year.

“Last year we achieved record revenue thanks to the exclusive presentations of new products,” Habanos co-president, Luis Sánchez-Harguindey, told EFE.

The executive said that the reinforcement of the positioning of the premium Cohiba and Trinidad brands, together with the launches of 31 new products including 22 specialities, made this growth possible.

China once again consolidated its position as the leading market in terms of sales, followed by Spain, Switzerland, Germany and the United Kingdom, while by region, Europe reaffirmed its leadership with a 56% share of the market, ahead of Asia (21%), the Americas (13%) and Africa and the Middle East (10%).

More than 2,900 participants and 160 journalists attended a week full of activities that included international seminars, pairings, cigar-making courses and visits to the Pinar del Río plantations and various tobacco processing factories.

Also held was the fifth edition of the “Habanos World Challenge” contest, which tests the knowledge of aficionados with pairing, menu and cigar-cutting tests. Canadians Philip Ramos and Aarom Ignacio won the final against the Kuwaiti team made up of Hassan Saber Altamimi and Sanel Talal Haddady. EFE

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