Remy Cointreau’s spirit sales shrink

11th June, 2013 by Becky Paskin

Sales at Remy Cointreau increased 16.3% in its last financial year, although the French drinks group’s liqueurs and spirits portfolio shrunk significantly.

Remy Cointreau spirits

Remy Cointreau’s spirits and liqueurs portfolio declined in the group’s last financial year

With double-digit growth in Asia and the US, and an improved performance in Europe, Remy Cointreau saw sales soar to €1.19bn in the year to 31 March 2013.

The achievement was led by a “remarkable performance” from leading Cognac brand Remy Martin, which through a combination of price increases and brand innovations in Asia and the US – where consumer demand for premium Cognac is strong –  improved sales by 21.5% to €719.8m.

However sales from the group’s liqueurs and spirits division, which includes the Cointreau and Metaxa brands and counts Western Europe as its core market, declined by 10.8% to €239.1m.

According to the group, Cointreau itself “performed well” in both the US and Western Europe, as did Metaxa, which despite the economic challenges provided by Greece achieved growth thanks to strong sales in Eastern Europe.

Remy Cointreau’s acquisition of the Bruichladdich single malt Scotch brand in September last year did not contribute greatly to the group’s end of year results.

“In a worldwide economic environment which lacks visibility, particularly in Europe, but nevertheless remains favourable for the premium spirits industry, Rémy Cointreau remains true to its long-term high value strategy,” the group concluded.

“The Group will continue to rely on its very high quality brands, its innovation policy, the dynamism of its distribution network and its strict cost control, and remains confident in its capacity to continue to generate profitable growth over the medium to long term.”

The announcement of the 2012/13 financial results follows the announcement yesterday that Remy Cointreau has sold the Larsen Cognac business it acquired in November 2012 to Nordic spirits group Altia for an undisclosed sum.

Leave a Reply

If that's interesting, how about these?

Clear Creek marks anniversary with redesign

Oregon’s oldest ‘craft’ distillery, Clear Creek Distillery, has unveiled more...

Spirits reps strike up single market discussions

Trade bodies have sought to reassure spirits industry members that they are more...

Premiumisation pushes US spirits growth

Trading up to higher quality products continues to drive spirits growth in the more...

The world's best-selling Scotch whisky brands

Figures confirm that Scotch whisky exports are on the road to recovery, but more...

The world’s best-selling vodka brands

2015 proved a mixed year for vodka, with a handful of brands flourishing while more...

Rémy CEO: 'The worst is behind us in China'

Eric Vallat, CEO at Cognac house Rémy Martin, has declared “the worst is more...

SWA chief exec advises Scotland on Brexit

The head of the Scotch Whisky Association has joined a group of experts formed more...

The world’s best-selling rum brands

Despite being the third biggest spirits category in the world, rum was overrun more...

Knappogue Castle 'overhauls' brand design

Castle Brands-owned Irish whiskey Knappogue Castle has rolled out a new pack more...

'Years of uncertainty' for drinks trade after Brexit

Representatives of the international drinks trade have spoken of “serious more...

The Brand Champions 2016

The spirits industry is awash with brands selling more than one million cases more...

Metaxa and LoveGreece unveil limited edition

Rémy Cointreau's Metaxa has released a new Metaxa 7 Stars limited edition more...

The world's best-selling Cognac and brandy brands

In spite of varied and plentiful challenges, Cognac and brandy brands have come more...

Spirit Cartel makes key appointments

London-based importer Spirit Cartel has expanded its sales team, appointing more...

DHL reveals 'significant' distribution investment

UK-based drinks distribution group Tradeteam, part of DHL Supply Chain, has more...

Stock Spirits releases special dividend

Troubled drinks producer Stock Spirits has announced a special dividend of 10p more...

Maxxium UK eyes £900m spirits opportunity

Spirits distributor Maxxium UK is aiming to “unlock” a sales opportunity of more...

The world's best-selling Indian whisky brands

From buoyant brands to troubled trademarks, the Indian whisky category saw it more...

Hennessy marks blender succession with release

LVMH-owned Cognac house Hennessy has marked the arrival of its more...

Glencairn sees full-year sales soar 20%

Scottish crystal-maker Glencairn has witnessed a 20% sales uplift in its more...