Rémy Cointreau Posts Solid Q1 Sales Growth, Propelled By Rémy MartinJuly 20, 2017
Rémy Cointreau’s first quarter sales were up 8% on an organic basis to €240.2 million ($277.7 million), bolstered by the continued strength of its flagship brand Rémy Martin. Backed by favorable trends in Asia—including continental China, Macao, Hong Kong and Japan—and the EMEA region, Rémy Martin sales jumped 18.7% for the quarter. The Cognac brand’s performance helped to offset a slide by the group’s Liqueurs and Spirits division, which was down 1.9% on an organic basis. That division was hindered primarily by the deconsolidation of Passoã sales (Passoã is now managed by a joint venture controlled by Lucas Bols). Excluding Passoã, however, Rémy Cointreau reported that Liqueurs and Spirits sales rose 7% for the first quarter, buoyed by Cointreau, which enjoyed robust growth in the U.S., as well as the Metaxa, Mount Gay and St-Remy brands, and the Bruichladdich, Port Charlotte, Octomore and The Botanist portfolio. —Christina JelskiSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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