Rémy Cointreau Up 10% To $1.7 Billion In Full Fiscal YearApril 28, 2023
Rémy Cointreau saw sales rise 10.1% on an organic basis for its fiscal year 2022-2023, reaching a total of approximately €1.55 billion ($1.7b). The gains were driven by strong growth in the company’s Liqueurs & Spirits division, which was up 18.7% to nearly €419 million ($460m). Cognac, the largest division within the company, posted solid gains as well, up 7.6% on an organic basis to €1.1 billion ($1.2b).
Growth within Cognac is attributed to a combination of the success of “Inch by Inch,” Rémy Martin’s latest ad campaign, kicked off during the Super Bowl, as well as strong growth in China and at the higher end of the portfolio, with the company pointing to the growth of Rémy Martin Club. For Liqueurs & Spirits, the company pointed to strong sales in the U.S., driven by the continued success of Cointreau, The Botanist, and increased availability for St-Rémy Signature as sources of growth.
Growth for Q4 slightly outpaced the full year, with the company reporting sales up 10.2% on an organic basis, totalling roughly €250 million ($275). For Cognac, Q4 saw a 2.9% rise in sales and Liqueurs & Spirits grew by 26.2% on an organic basis in the quarter. For the current fiscal year, the company said it “anticipates a continued strong normalization of consumption in the United States, at a level that will nonetheless remain significantly higher than in 2019-20.”—Shane EnglishSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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