Annual report 2004 (English) - PDF 3546K - Imperial Tobacco

“With DUX, we’ve created
a quality cigar at a
competitive price that
corresponded to all
market requirements.”
JAVIER ESTADES
Cigar Marketing Director, Spain
In the homogenized-wrapper segment, which
is the largest in terms of revenues, the Farias Superiores
brand continued to advance, posting a 5% gain in
revenues. Altadis remained the segment leader with
a 61% market share.
The Group’s innovation strategy was further reinforced
in 2004 through a number of major initiatives, including
the successful introduction of Farias Superiores in
fi ve-cigar boxes and the new presentation of Caribes
Reserva Celebración in the “prestigious” cigar
segment.
Results in the Premium category were also very positive.
Revenues from Cuban cigars gained 7%, mainly due
to solid performances of the strategic Montecristo
and Cohiba brands and an expanded Cigar Gourmet
program. In the hand-rolled Premium segment, the
VegaFina brand grew its revenues by 8%.
In the small-cigar segment, Altadis raised its market
share to 31% and posted an 8% increase in volume.
61%
Altadis market share in
the homogenized-wrapper
segment
The principal growth driver was Dux which, launched
in 2003, turned in an excellent 2004 performance with
70 million units sold. The launch of Dux Maior during the
year was also successful, reinforcing Altadis’ position in
the small-cigar segment, which represents 36.5% of the
total market.
Altadis brands also strengthened their leadership in
the Minis segment, now the biggest in terms of volume.
The Group dominates this segment with two fl agship
brands, Farias Mini and VegaFina, along with its
Cuban Minis, spearheaded by Mini Montecristo and
Mini Cohiba, and certain international brands such as
Fleur de Savane. In 2004, a new variety, VegaFina
Minis Fresh Pack, was added to the Minis segment,
driving overall growth in the VegaFina line to 41%.
With its new products, the Minis segment already
accounts for 25% of the brand’s business.
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