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Luxury Brand Index Third-Quarter Results Stay Strong

By January 21, 2023Top News

Luxury spirits brands grew 15% in the third quarter of 2022 compared with the same quarter of 2021, according to the Distilled Spirits Council of the United States’ latest Luxury Brand Index (LBI). “While inflation continues to cut into consumers’ discretionary incomes, a special bottle of spirits remains an attainable luxury that brings great pleasure to many adults,” said Distilled Spirits Council Chief of Policy and Strategy Christine LoCascio. “Sales of luxury spirits are also being buoyed by the resurgence of restaurants and bars coming out of the pandemic, as well as consumers elevating their cocktail experiences and bars at home.” The LBI, which analyzes sales of spirits brands at the top end of the spirits market, tracks the performance of brands that have a 750-ml retail price of $50 or more. LoCascio noted that luxury American whiskey and tequila represented the largest increases in annual growth rate in the third quarter.

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