Rémy Cointreau Revenues Reach $1.4 Billion In Latest Fiscal YearApril 29, 2022
Rémy Cointreau has posted revenues up 27% organically to €1.3 billion ($1.4b) for its fiscal year ended in March, on a volume increase of 18%. The company said it has benefited recently from ongoing premiumization trends in the spirits category and rising interest in mixology. Rémy acknowledged a 9% decline in the fourth quarter, saying it reflected “efforts to control its strategic inventories before carrying out major price increases on April 1 and an unfavorable calendar effect linked to the Chinese New Year.”
Rémy’s core Cognac business surged 31% to €948 million ($998m) for the year, with demand robust in the U.S. and Europe, offset partially by a slowdown in China owing to the recent Covid lockdowns in that market. In the most recent quarter, Rémy Martin launched its new limited edition, L’Etape, a Fine Champagne Cognac made with growing partners committed to sustainable agriculture.
The Liqueurs & Spirits division grew 28% to €333 million ($350m), boosted by the Cointreau, The Botanist, and Bruichladdich brands. Looking ahead, the company said it “expects a strong start to its business in the first quarter despite a very high comparison base and an environment in China that remains characterized by the pandemic.”—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.