Rémy Cointreau’s Full-Year Sales Fall 11%, Even As U.S. Premiumization Continues

Rémy Cointreau has reported an organic sales decline of 10.7% to €1.03 billion ($1.43b) for the financial year ended March 31. In the fourth quarter, the group’s sales fell 16.1% organically, due primarily to the Chinese government’s ongoing crackdown on conspicuous consumption and related destocking. The U.S., however, posted a 7.7% sales gain for the year, bolstered by a favorable price mix.

The company’s flagship Rémy Martin Cognac brand was down 20.8% over the past 12 months, while Rémy’s liqueurs and spirits portfolio—including Cointreau, Mount Gay rum, Metaxa and St Rémy—grew 3.3%. Earlier this month, Rémy became the target of renewed acquisition speculation when the blog Betaville reported that Brown-Forman had enlisted Goldman Sachs and other financial advisers to explore a possible bid for the company.

Tagged : Remy Cointreau, Remy Martin, spirits

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