Marie Brizard Wine & Spirits reports full-year 2022 revenues rose 7.8%. Growth was driven by international sales, which were up 11.7% in 2022 from a year earlier.
The company noted that in the U.S., Sobieski sales fell. The U.S. vodka market is "persistently competitive, with strong promotional pressure." But despite the Russian attack on Ukraine, Europe saw growth, particularly in the Bulgarian and Lithuanian markets.
Fahd Khadraoui, CEO, said: “In 2022, we successfully continued our growth, particularly on international markets, despite an unprecedented economic climate characterised by high inflation and shortages of certain raw materials.
"Our revenues reflect healthy growth driven by three factors: 1) the lifting of all COVID restrictions, 2) our policy of increasing prices, primarily in international markets, and above all 3) a quality/price ratio that positions our brands as a safe haven for consumers during this period of widespread surging inflation. Unfortunately, the current challenging macroeconomic environment appears set to continue into the beginning of this year. We must therefore opt for a proactive pricing policy and remain cautious regarding the development of the Group’s business over the coming months.”