28 AUGUST 2025, LONDON: Chivas Brothers, the Pernod Ricard business dedicated to Scotch whisky, today announces its FY25 (July 2024 – June 2025) full-year performance. Net sales are down -3.4% compared to FY24 as the category continues to face down global economic and geopolitical headwinds.
Despite challenging economic conditions, two of Chivas Brothers’ strategic brands – Chivas Regal (+2.3%), which launched a new global partnership with the Scuderia Ferrari HP Formula 1 team in FY25, and Ballantine’s (+0.2%) – saw resilient value growth, as global consumers gravitated towards heritage Scotch brands. Turkey was a key contributor to Chivas Regal’s growth (+48%[1]), while for Ballantine’s, the brand’s core product range (+4.4%) contributed to its positive overall performance. Innovation was also a priority for both brands, with the introduction of adventurous, flavour-focused expression, Chivas Regal Extra Smoky Cask Selection alongside Ballantine’s Sweet Blend, which was created to cater to rising demand for sweeter, more approachable spirits.
Strong performance in emerging regional markets such as Africa & Middle East (+22%), as well as specific emerging markets including Brazil (+7%) and India (+1%), also reflect the continued opportunities for Scotch Whisky to reach new consumers. This comes following the proposal of a UK-India free trade agreement, which, once ratified, is due to help deliver long term growth for Scotch over the next decade.
With a +3% CAGR[2] since FY19, Chivas Brothers demonstrates a stable growth trajectory that ensures the business remains optimistic about Scotch’s future growth, while recognising the current industry-wide category softening.
Chivas Brothers Chairman and CEO, Jean-Etienne Gourgues, commented:
“Our FY25 performance shows pockets of positivity, despite a difficult global trading environment and geopolitical volatility impacting the Scotch whisky industry. What remains clear however, is that Scotch can and will continue to hold its resonance with a global audience, despite these conditions. It is fantastic to see Chivas Regal and Ballantine’s back to value growth and, looking ahead, we continue to be well positioned in the market thanks to our diverse portfolio. As a business, we remain optimistic about the long-term opportunities for Scotch, even as we continue to navigate the challenges of today’s market”.
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[1] Net Sales v FY24 including Perimeter adjustment
[2] Compound Annual Growth Rate for Total CBL Scotch organic year on year net sales growth
