Diversified business group ITC today opened its first retail store selling premium cigar brand ‘Armenteros’ in the capital as part of plans to strengthen its presence in the premium tobacco segment.
The company had introduced the ‘Armenteros’ range of handrolled cigars in Delhi, Mumbai and Kolkata last year.
According to sources, ITC is planning to launch the luxury store, ‘Cigar Republic’, in other key metros in future, apart from the capital.
According to market estimates, the premium cigar category is growing at 20 per cent per annum in the country, with increasing disposable incomes and exposure to global lifestyles, though the segment is still at a nascent stage.
Apart from cigars and accessories, the store, which is located at ITC Maurya Hotel, will also have a library showcasing literature on cigars and other objects of interest to cigar connoisseurs.
‘Armenteros’ cigars are being sourced from the Dominican Republic and are being manufactured at La Aurora, which is one of the oldest cigar companies in the world.
Depending on the cigar sizes (Churchill, Torpedo, Corona, Petit Corona and Robusto), they are sold at prices ranging from Rs 3,000 to Rs 10,000 per pack.