Cuba: a luxury cigar cellar broke a new auction at 4.6 million euros

Made of ebony and decorated with mother -of -pearl, gold and glass crystals, the cellar with 400 cigars Behike Cohiba, the most exclusive range of Cuban cigars, was sold for 4.6 million euros during the 25th Havana festival. This event brings together all lovers, commercial representatives or global influencers.

This luxurious setting was removed by an Asian buyer whose name has not been revealed. In 2024, the most prestigious play had reached 4.5 million euros and had been acquired by Xiaohong Hu, the president of a group of Chinese media, according to the French specialized magazine the lover of cigars.

This sale comes while the cigar market is growing thanks to the dynamism of the Asian market. HABANOS SA which brings together the Cuban State and the Tabacalera company, bought in 2020 to the British group Imperial Brands by a consortium of Asian investors, announced a “record” turnover of $ 827 million, an increase in sales of 16 %.

The Asian market, growth engine

In addition to a new trade policy that has increased prices in 2022 and maintaining the European market (54 %), this good health is based on the growth of the Asian market, while the United States remains closed in Havanes due to the economic embargo. “The Chinese market, as, in general, the Asia-Pacific region, which brings together 24 % of sales in the Habanos group, continue to be a growth engine,” confirmed José Maria Lopez, vice-president in charge of development.

There remain, for the coming years, questions about the production capacities of the island while the economy is going through a deep crisis, struck by a strengthening of American sanctions and a massive emigration which weakens all the manufacturing sectors.

In addition, Cuban cultivators find it difficult to recover from Hurricane Rafael in November and Hurricane Ian in 2022, which both ravaged the Western provinces of the tobacco culture of Artemisa and Pinar del Rio, damaging infrastructures and cultures. However, Jose Maria Lopez, vice-president of Habanos development, said tobacco production was “guaranteed”. “Total tobacco production in Cuba can be reduced, but they are smaller tobaccoes that would never enter into the production of our export cigars,” he said.