Cuban cigar market Habanos S.A envisions gaining 25-35% of the U.S premius cigar market in the united states lifts its trade embargo on Cuba, potentially selling 70 million to 90 million cigars per year. Habanos S.A a 50-50 joint venture between the cuban state and Imperial Tobacco Group PLC, generated sales of $439 million in 2014 without direct access to the U.S market. The company is also the market guarantor of Cuba's signature export.
In regulations published since the United States now allows American travellers to Cuba to legally bring back up to $100 worth of tobacco and alcohol for personal use, which Habanos S.A said would have an immediate impact on its sales in Cuba.
With time Habanos S.A would expect to capture 70 percent of the U.S market, similar to the market share it has elsewhere, in the world company executives told reporters at the start of Cuba's annual cigar festival.
The prospect of the united states lifting its 53 year old embargo improved after the United States and Cuba announced on Dec 17 their intention to restore diplomatic relations.
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