Cognac Growth Drives Rémy Cointreau Sales Up 7% For Full Fiscal YearApril 18, 2018
Rémy Cointreau has posted an organic sales increase of 7.2% to €1.1 billion ($1.36b) for its fiscal year ended in March, with flagship Cognac brand Rémy Martin leading the way. Progress was particularly strong in the fourth quarter, during which the French group’s sales surged by nearly 13%.
For the full year, Rémy Martin Cognac registered organic sales growth of 13% to €760 million ($942m), with the U.S., China, and Russia among its top-performing markets. In the U.S., the Rémy Martin VSOP expression was especially strong last year, rising 16% to nearly 600,000 cases to earn an Impact “Hot Brand” award. Meanwhile, Rémy’s Liqueurs & Spirits division—including Cointreau, Mount Gay, Metaxa, and other brands—saw volume decline by 1% for the year to €267 million ($331m).
Earlier this month, Rémy announced a number of upcoming executive changes effective June 1. Among other moves, the company has named current head of travel retail, Ian McLernon, as CEO of Rémy Cointreau Americas. McLernon will replace Philippe Farnier, who has been appointed CEO of the House of Rémy Martin, replacing the departing Eric Vallat.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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