Food
As expected, Oettinger Davidoff AG has acquired the majority interest in Bluebell Cigars (Asia) Ltd – its long-time Asian distributor – in what is a highly significant strategic move.
Bluebell is a family-owned company that is one of the largest brand luxury distributors in Asia, representing over 50 luxury and lifestyle brands in 10 countries, operating 500 retail stores, and employing over 2,500 dedicated staff. It has also been associated with Davidoff cigars for more than 50 years.
Davidoff’s majority share investment in Bluebell follows the 25% stake taken by the leading premium cigar company a year ago and this new ownership has been effective from January 1, 2016.
As part of the new structure, Davidoff says that Bluebell Cigars (Asia) Ltd will be renamed Davidoff of Geneva (Asia) Ltd. and will continue to be led by Laurent de Rougemont as Managing Director.
Left to right: Davidoff CEO Hans-Kristian Hoejsgaard and Laurent de Rougemont, new Senior Vice President Asia.
He will report directly to Oettinger Davidoff CEO Hans-Kristian Hoejsgaard in his new role as Senior Vice President Asia and Rougemont will also be a member of Oettinger Davidoff’s global management group.
In addition, Gerhard Anderlohr, Oettinger Davidoff’s current Head of Asia, will take up a new role as Vice President Business Development with a particular focus on China and the Chinese consumer.
Commenting, Hans-Kristian Hoejsgaard, CEO Oettinger Davidoff AG, said: “The 2015 Agreement with Bluebell Cigars (Asia) Ltd provided us with a right over time to acquire a majority interest in our long-standing Asian partner and the time was now right to make that move.
“The JV will continue to operate in the spirit of equal partnership and Bluebell and Oettinger Davidoff will be equally represented on the company’s Board of Directors. I am delighted in this way to cement our relationship with Bluebell and further deepen our commitment to the Asia Region, which continues to represent significant future potential for the Davidoff business.”
Ashley Micklewright, CEO Bluebell (Asia) Ltd. stated: “We are delighted Oettinger Davidoff exercised their right to increase their interest in our joint venture and that we can now operate the business in the spirit both parties initially intended over a year ago.
“In today’s market, the impact of digital technologies and the harmonisation of markets across the globe has meant legacy relationships have had to be revisited and adapted so that the interest of parties remain aligned for the greater good of the brand.
“We have been particularly proud to have been associated with Davidoff for the past fifty years and of course its success in Asia, and we believe we have a foundation which will allow us to remain as proud for many more years to come.”
