Bartenders around the world pouring more Wray & Nephew rum
Published:Monday | March 12, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter
Bartenders the world over are increasingly choosing locally made Wray & Nephew white rum for mixed drinks, according to Campari Group.
The rum's rising popularity served up more earnings for the Italian company's Jamaica white and red rum portfolio, which contributed €90.8 million to the group, reflecting a six per cent rise in revenue.
Wray & Nephew Overproof rum, which itself increased 12.9 per cent in 2017, "continues to be one of mixologists' favourite brands, globally, thanks to the depth of flavour, quality and versatility," said Campari in statements accompanying its full-year financial results.
The brand registered double-digit growth in the United States, United Kingdom and Canada, as well as and positive growth in the brand's largest market, Jamaica, the company said.
Its red-aged sister rum Appleton Estate grew 6.3 per cent year on year. Appleton racked up gains in the core US and Jamaican markets, but also had positive results in Mexico, the UK and New Zealand. However, performance in the Canadian market was weak, due to price repositioning of entry level stock keeping units.
The top five markets for Jamaican rums, by value, are now Jamaica, US, Canada, UK and Mexico, Campari said.
Drinkers in Jamaica contributed €83 million to the group, up from €79 million, both based on their consumption of Jamaican brands as well as other spirits in Campari's portfolio. Jamaica's contribution equated to 4.6 per cent of the total €1.8 billion sales for Campari Group.
The Italian company also reported a 17.5 per cent rise in adjusted group profit to €233.4 million.
Last year, the company invested nearly $1 billion in renovating its rum tour in Jamaica and rebranded it as the Joy Spence Appleton Estate Rum Experience, in continued celebration of the renowned master blender.
Campari Group also relocated the head office of subsidiary Campari America from San Francisco to New York City last fall.
The new offices in midtown Manhattan will house the US business operations and the North America regional executives and support teams.
"This move will put Campari America Campari Group's number-one sales generating area closer to the group's worldwide head office in Milan, the production facilities in Kentucky, the group's operations in Jamaica, Mexico and Canada, as well as to the group's key distributor partners in the US," the spirits company said.