Rémy Cointreau reports ‘strong’ Q3 sales
French drinks group Rémy Cointreau has posted a 39.1% organic sales increase for the first nine months of its 2021 fiscal year, boosted by double-digit Cognac growth.
For the ninth-month period to December 2021, Rémy Cointreau reported sales of €1.08 billion (US$1.22bn). The company said it witnessed a ‘strong’ third quarter with sales up 21%, bolstered by ‘excellent momentum across all regions’.
In October 2021, Rémy Cointreau reported organic sales growth of 23.7% for Q2, ahead of the company’s expectations.
The company’s Cognac division grew by 19.4% in Q3 thanks to ‘very strong’ demand, while the liqueurs and spirits arm reported a 27.4% increase.
Cointreau liqueur enjoyed ‘strong momentum’ in the US, driven by its partnership with actor Jessica Alba. The Botanist gin recorded growth in the on-trade, supported by new listings and marketing campaigns.
The firm’s whisky business, which includes brands such as Bruichladdich and Octomore, saw ‘excellent growth’ in China.
The ‘partner brands’ unit recorded a 14.3% sales boost, led by Europe.
Rémy Cointreau said the Americas region generated ‘strong growth despite a high base’. The APAC region also performed well, bolstered by China and northern Asia.
The EMEA region continued its upward trajectory after sales started to recover in the first half of the fiscal year, the firm noted.
Looking ahead to the next financial year, Rémy Cointreau said it expects ‘strong’ organic sales growth, boosted by the first half.
The company is aiming for ‘very strong’ organic growth in current operating profit. The French firm will increase its spend on marketing and communications in the second half of the year to support the recovery of its brands and boost their medium-term growth potential.