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Rémy Cointreau posts ‘strong’ H1 sales

French firm Rémy Cointreau saw organic sales rise by 21.1% in the first half of its 2022/2023 full year, led by double-digit Cognac gains.

Rémy Cointreau's namesake liqueur
Sales of Rémy Cointreau’s namesake liqueur benefitted from the brand’s redesign

The company’s sales reached €867.1 million (US$868.9m) for the six months to September 2022. Sales for the second quarter rose by 16.2%, with the previous quarter rising by 27%.

The firm’s volumes rose by 9.7% over the six-month period.

The Cognac division increased by 22.4%, with double-digit growth in the US, driven mainly by the first quarter. Sales of Cognac in China were boosted by a ‘strong performance’ from the Mid-Autumn Festival in September.

Rémy Martin Club experienced a ‘remarkable performance’, the company said.

The firm’s liqueurs and spirits arm saw sales soar by 20.7%, led in the US by Scotch whisky Bruichladdich and Cointreau liqueur.

The Europe, Middle East and Africa (EMEA) region was bolstered by a ‘strong showing’ for Cointreau, which rolled out its new bottle, as well as a new Metaxa cocktail campaign and an ‘up-trading’ strategy for St-Rémy brandy’s Signature and XO bottlings.

Single malts performed well in China during the Mid-Autumn Festival, the company noted.

Rémy Cointreau said all regions contributed to its growth, including the Americas (up 21%) and Asia Pacific (up 21.7%), which was boosted by a ‘sharp marked rally’ in China in Q2. The EMEA region rose by 19.9.%

The company said it ‘intends to continue to gain market share value’ in the spirits sector. The firm expects another year of ‘strong organic growth’ as consumption trends normalise.

Going forward, Rémy Cointreau said it is likely that consumption will come to ‘new normal’ levels that exceed 2019/2020.

The firm will focus on medium-term brand development with ‘sustained investment’ in marketing and communications for the second half of its financial year.

The company’s full-year impact of currency is predicted to be positive for sales, up €110m/€120m (previous estimate: €90m/€100m).

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