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?

Wemyss Malts appoints Asia sales manager

Independent spirits bottler Wemyss Malts has named Jason Pan as Asia Pacific more...

Experts predict top spirits trends in 2017

If you're curious about what the coming year has in store for the global more...

Plans for Donegal distillery approved

The town of Donegal in Ireland is set to welcome its first distillery in 175 more...

Midleton Distillery gets €10.5m expansion

Irish Distillers is embarking on a €10.5 million (US$11.2m) expansion of its more...

Diageo 'may raise stake' in United Spirits

Diageo has declined to comment on reports that it is considering increasing its more...

Irish whiskey exports 'to double' by 2020

Exports of Irish whiskey increased by an estimated 8% in 2016 to €505 million more...

Rémy Cointreau unveils corporate makeover

Bruichladdich Scotch and Rémy Martin Cognac owner Rémy Cointreau has unveiled more...

Former Stoli exec Cullins joins Perfect Brands

Rob Cullins, former Stoli Group CEO, has been named global spirits director at more...

Patrón TR chief: 'every brand is a competitor'

John Kilmartin, travel retail chief at Patrón Spirits International, talks more...

Majestic sees gin sales soar over Christmas

Majestic Wine has reported a 55% increase in gin sales over the Christmas more...

Buffalo Trace reports record number of visitors

Buffalo Trace Distillery recorded its highest ever visitor numbers in 2016, more...

Top 10 biggest spirits stories of 2016

The Spirits Business looks back at the biggest stories to rock the spirits more...

Rémy Cointreau hails ‘impressive’ third quarter

Rémy Cointreau has posted sales of €836.7 million for the first nine months more...

Stock Spirits Polish arm buoys FY results

Stock Spirits has said its key Polish business performed well last year, more...

Shareholder condemns 'disdainful' Stock Spirits

Western Gate Private Investments has criticised Stock Spirits for what it calls more...

Cognac exports rebound to pre-crisis levels

Global Cognac exports reached their “highest level” in both volume and more...

375 Park Avenue Spirits hires former Bacardi exec

US importer 375 Park Avenue Spirits, a division within spirits group Sazerac, more...

Rémy Cointreau creates whisky business unit

French drinks group Rémy Cointreau has set up a dedicated whisky business unit more...

D1 London gin and vodka to enter Chinese market

D1 London Spirits is set to launch its London Gin and Potato Vodka in China, in more...

Beam Suntory partners with Chicago Cubs

US baseball team Chicago Cubs has announced Beam Suntory as its official more...