Cuban Cigars, Chinese Cash: The Rise and Fall of Chen Zhi's Empire
TL;DR Summary
An FT feature traces how Chen Zhi’s Prince Group built a stake in Habanos, turning Cuban cigars like Cohiba into luxury status symbols and boosting revenue, before a 2025–26 wave of sanctions and an ensuing liquidation drive exposed alleged illicit activities, leaving his holdings in limbo and pushing retailers toward New World competitors as Cuba’s aging production and political barriers bite.
The mysterious billionaire and Cuba’s cigar industry Financial Times
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