Rémy Cointreau H1 sales rise 52%By Nicola Carruthers
French drinks group Rémy Cointreau saw organic sales increase by 52% in the first half of its 2021 fiscal year, boosted by ‘buoyant demand’ for Cognac.
The company’s sales rose to €645.3 million (US$751m) for the six months to 30 September 2021.
Rémy Cointreau’s second quarter organic sales grew by 23.7%, ahead of the company’s expectations. The growth was due to a ‘very strong trend’ in China and the US, and ‘solid momentum’ in Europe.
For the first quarter, the company recorded an organic sales increase of 105%, with triple-digit growth for Cognac.
Cognac sales rose by 26.9% in the second quarter, boosted by a ‘very strong’ performance in China.
The liqueur and spirits division increased by 16.5% in Q2. In the US, the division was boosted by Cointreau liqueur, ‘promising results’ from the launch of St-Rémy Signature brandy and the popularity of The Botanist gin in the on-trade.
Furthermore, the company’s whisky portfolio performed well in China as a result of demand for single malt from younger drinkers.
Rémy Cointreau said all regions contributed to growth for the first half of the year. The Americas region rose by 60.2% in H1, driven by ‘resilient’ at-home consumption and the recovery of the US on-trade.
The APAC (Asia Pacific) region increased by 49.3% during the six-month period, while the EMEA (Europe, Middle East and Africa) region rose by 33.5%.
Looking ahead, the company said it expects ‘strong’ operating profit growth for the full year. The group will increase its investment in communication this year to help brands recover and grow in the medium term.