Virginia ABC reports $1.4B in FY 2021 revenue
Tito's Handmade vodka is top-selling brand
The Virginia Alcoholic Beverage Control Authority (ABC) reported $1.4 billion in gross revenue for fiscal year 2021, up $163 million over the previous fiscal year.
It’s the third year in a row the state authority has surpassed $1 billion. As a division of state government, ABC sends its profits — $616.4 million — to the state coffers. It’s $71.1 million more than last year. The ABC made $237.3 million in profits from retail sales, $294 million in taxes and $85.1 million from wine and beer taxes.
Retail sales grew 14.7%, according to the ABC. Six new ABC retail stores opened across the state, generating nearly $4.9 million in sales. Additionally, four stores were remodeled and 10 stores relocated. Sunday sales increased 11.8% to $104.9 million.
Licensee sales picked up and were 5.6% higher than the previous year.
The top five brands purchased in Virginia’s state-regulated liquor stores over the past year were:
- Tito’s Handmade (vodka)
- Hennessy VS (cognac/Armagnac)
- Jack Daniel’s 7 Black (Tennessee whiskey)
- Patron Silver (tequila)
- Jim Bean (straight bourbon)
Patron Silver sales jumped from $20.9 million to $28.9 million, a 38.1% increase. Hennessy VS cognac rose from $46.9 million to $52.8 million, a 12.6% increase. Sales of Tito’s rose from $52.3 million to $57.9 million, a 10.5% increase.