Along with fine wine, cigar is associated with celebration and the luxury lifestyle.
China’s cigar market is expected to soar by 20-plus percent in 2014. Davidoff’s CEO Hans-Kristian Hoejsgaard tells Bloomberg that China was the seventh largest cigar market in the world in 2013 and is expected to move to number four in 2014.
Davidoff, which offers premium handmade cigars, has created a limited edition Year of the Horse product for the Chinese market. It is the largest cigar its ever made and the company expects it to be a hot-selling gift item. Priced at HK$4800 (US$618) for a box of nine cigars, it is luxury, but accessible, according to the company.
There are only 5,000 boxes made for the whole world. Davidoff has created Chinese zodiac-themed limited edition cigars in past years and they have sold very well. Davidoff’s limited edition business accounts for nearly 20 percent of sales. Also, travel retail with 85 million Chinese travelers is an important market for Davidoff.
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