- Twelve-month sales for 2023 increase 1% to EUR268m (US$292.8m)
- Liqueur flagship Licor 43 accounted for 41% of total sales, although year-on-year performance not disclosed
Licor 43 owner Zamora Co has reported a very slight lift in sales from calendar 2023.
In the full 12 months, the privately-owned company, which is not obliged to report its results to media, saw its top-line increase by 1%. The group, which was up by 20% in sales terms in 2022, flagged the wider impact on the spirits industry last year of “inflationary pressures, volatile commodity prices, global fragmentation risks and the slight slowdown in the global economy”.
Geographically, Zamora broke down its sales to show the US rising from 11% of sales in 2022 to 15% last year. Iberia, which comprises the home market of Spain along with Portugal, accounted for 46% of sales, down from 48% in the year prior.
While little commentary was provided on brand performances, the group’s wine business increased its share of sales to 40% from 36% in 2022, with spirits heading in the other direction (60% versus 64%).
“We remain strongly committed to our key international markets and to the growth and long-term sustainability of the business, despite the difficulties our industry has experienced over the past year,” said CEO Javier Pijoan. “We value the brand acquisitions we have made in recent years, which still have plenty of scope for development.”
Back in January, Zamora confirmed plans to enter the tequila category with its own brand. Volteo, which will launch with blanco, reposado and cristalino expressions in the US, remains set for a “summer launch”, according to the brand’s website.
