News Briefs for January 19, 2017January 19, 2017
•After a strong third quarter, Rémy Cointreau’s sales were up by nearly 5% (and 6% on an organic basis) over the first nine months of its fiscal year. The company’s organic sales rose by 9% in the third quarter (ending December 31, 2016), as high-single digit growth in the U.S. market combined with a double-digit advance in China to produce significant progress. Rémy’s third-quarter sales bump more than doubled analysts’ projections. Flagship brand Rémy Martin was the company’s growth engine over the first three quarters of its fiscal year. The Cognac brand’s sales grew by 11.2% on an organic basis. Meanwhile, in China, the brand’s depletions were up by high-single digits, in part because of the earlier Chinese New Year. Beyond Rémy Martin, Rémy Cointreau’s liqueurs & spirits unit (led by Cointreau) grew by 4.1% over the first three quarters, while its partner brands business fell by 15%, mostly due to the end of distribution contracts for Piper Heidsieck and Charles Heidsieck in several key markets.
•Napa-based importer Old Bridge Cellars has added Champagne Collet to its portfolio, marking its entry into the Champagne category. Collet, which has had a regional presence in the U.S., will now be expanded nationally. Old Bridge will market eight wines from Collet, including NV Brut Art Deco ($45), NV Brut Rosé ($50) Blanc de Blancs ($50), Brut Vintage Collection Privée ($70) and Esprit Couture ($100). Collet joins d’Arenberg, John Duval, Poggiotondo, Domaine de Nizas, Chateau de Sours, Greywacke, Maison L’Envoyé, Chapter 24 Vineyards and others in the Old Bridge stable.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.