Intercontinental Distillers Limited (IDL) has commended its distributors for their resilience and contribution to the company’s performance in the 2024 business year while cautioning against unhealthy price-cutting practices that threaten market stability and brand value.

Speaking at the 2025 IDL Distributors’ awards held in Lagos, Managing Director/CEO, Chief Patrick Anegbe, described the 2024 business year as both challenging and rewarding, noting that the company achieved significant growth despite tough economic conditions.

He, however, expressed concern over the rising trend of price undercutting among distributors, warning that such practices could erode profitability and weaken the integrity of IDL’s brands.

“We must uphold fair pricing to protect our collective interest. Cutting prices below recommended levels does not sustain the business — it only destroys long-term value,” he said.

Anegbe reaffirmed the company’s commitment to supporting its trade partners through innovation, quality assurance, and strong marketing initiatives, urging distributors to remain united and focused on shared growth.

The event also featured product unveilings and awards to top-performing distributors who excelled during the 2024 business year.

Head of Marketing, Mobolaji Alalade, said the new products reflect the company’s drive to offer richer experiences and more variety to consumers.

“Great brands are not built in the distillery alone, but in the hands and hearts of those who share them with the world,” he stated.

He described the new introductions — Chelsea Orange and Chelsea Strawberry (both in 75cl bottles), and Ivory Cream Liqueur (available in 75cl and 20cl sizes) — as “luxury in a glass,” crafted to appeal to diverse consumer tastes and expand distributor opportunities in the market.