Campari CEO: Aperol and Espolon growing even in tough US market
TL;DR
Campari Group's Aperol and Espolòn brands achieved double-digit growth in the U.S. in 2024, offsetting declines in others like Wild Turkey, despite market challenges and potential tariffs.
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Campari CEO: Aperol and Espolon growing even in tough US market
Campari Group’s strategic focus on high-performing brands like Aperol and Espolòn has driven growth in a challenging U.S. market, despite broader industry headwinds. In 2024, the company reported organic sales growth of 2.4% to €3.1 billion ($3.2 billion), with Aperol and Espolòn posting double-digit increases in the U.S. Aperol grew 11% year-over-year, surpassing 600,000 case depletions, while Espolòn surged 15% to nearly 1.6 million cases, overtaking Skyy Vodka as Campari’s top U.S. brand according to reports. These gains offset declines in other labels, including Wild Turkey and Grand Marnier, which saw sales fall between 5% and 9% according to data.
CEO Simon Hunt, who took office in January 2025, emphasized the company’s ability to outperform the U.S. market in both sales value and price/mix across all channels in 2024. This resilience comes amid macroeconomic volatility, trade destocking, and emerging trends like GLP-1 drug adoption and cannabis use, which are reshaping consumer behavior. Campari’s strategy of consolidating its portfolio—phasing out underperforming brands while doubling down on Aperol, Espolòn, and other premium spirits—is designed to enhance efficiency.
The company faces additional challenges, including potential U.S. tariffs on imports from Mexico and Canada, which could impact 2025 earnings by an estimated €35 million. Despite these pressures, Campari remains optimistic about its aperitif and tequila categories, positioning them for geographic expansion as consumer preferences evolve.
