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Chivas Brothers reports decrease in organic net sales

Chivas Brothers today announced its H1 FY24 (July–December 2023) financial results, revealing its organic net sales were down by 6 per cent in the period. 
Despite the decrease, Chivas Brothers said that it is outperforming the market on global exports, referencing the Scotch Whisky Association’s 2023 report released yesterday. It also suggests the numbers reflect a return to market and inventory normalisation following 2022’s ‘bumper year’.  
While overall numbers are down, Chivas Brothers reported an 8 per cent global growth in its luxury brand Royal Salute, which the company said indicates the success of its premiumisation strategy. Chivas Brothers’ other strategic brands, Chivas Regal, Ballantine’s, and The Glenlivet, all reported reduced global sales. 
Jean-Etienne Gourgues, Chairman and CEO of Chivas Brothers (pictured), commented: “Our H1 FY24 performance paints a clear picture of whisky market normalisation while also demonstrating the positive impact of strategic business decisions made in line with our premiumisation strategy.  
“Whisky is a long-term game: we remain focused on our ambition to open up to new markets and consumers through product innovations and brand experiences.” 

16 February 2024 - Lucy Schofield