This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
News
Marie Brizard Q1 2018 sales slide
Marie Brizard Wine & Spirits (MBWS) has reported a dip in sales for the first quarter of 2018 due to “extraordinary circumstances faced by the group”.
Marie Brizard Wine & Spirits has reported a dip in sales for Q1 2018
Net sales for the first quarter of 2018 fell by 1.6% to €82.2 million (US$96.7m) compared to the same period in 2017, but are said to be in line with the operating plan that was revised and approved by the board of directors.
A “sluggish” spirits market in France resulted in 6.7% slide in sales to €21.6m, which MBWS said was due to the group’s decision to concentrate Q1 2018 promotional activity in the next financial quarters.
Sales in Poland were hit hard with a “sharp decrease” of 61.8% as MBWS continued to feel the effects of a “very difficult operating environment” at the end of 2017.
In a bid to regain sales in the region, MBWS has put a five-point plan into place, covering distribution, appointing a new sales director, product positioning, operations and strengthening internal control procedures.
In the Americas, sales fell as expected, dropping 24.9% to €2.6m. This was mainly attributed to the launch of a new bottle for Sobieski, which will be released at the end of Q2 2018.
As a result of the new packaging, distributors are depleting their stocks and waiting for the launch of the new bottle before placing more orders. A difficult macroeconomic environment in Brazil also contributed to the decline.
MBWS described the first quarter in Asia Pacific as “typically not very significant”. It forecasts a return to growth in the region in the coming quarters following a 43% drop in Q1 2018 to €0.4m.
In addition, MBWS said it is still searching for a new permanent CEO for the company after the group ended the tenure of Jean-Noël Reynaud.
Chairman Benoît Hérault was appointed to the role of CEO on a temporary basis, and a recruitment agency was brought in to help find a new CEO.
MBWS said candidates with “excellent qualifications” have been identified and several of them, chosen by the board, have been interviewed, meaning the timeframe initially stated is expected to be met.