Rémy Cointreau sales recover in Q3
Despite growth in the third quarter (Q3), French firm Rémy Cointreau saw its sales dip by 1.9% in the first nine months of its 2025-26 financial year.
For Q3, covering October to December 2025, the Rémy Martin owner reported sales growth of 2.8% to €245.8 million (US$293.8m).
It followed a double-digit drop in the second quarter and an increase of 5.7% in the first quarter.
But the Q3 growth was not enough to boost the group’s total organic sales for the first nine months of its financial year (April-December 2025), which were down by 1.9% to €735.4m (US$878.8m).
The group’s Cognac sales fell by 4.3% in the first nine months of the year but rose by 3.2% in Q3.
Regarding its Cognac performance, Rémy Cointreau attributed the growth to the Americas region, where it grew for the fourth quarter in a row.
However, sales in Asia Pacific were down, with the company noting ‘challenging’ market conditions in China, particularly in the high-end segment.
Excluding the timing of the Lunar New Year, the group noted that China’s performance was almost stable, helped by the return of Cognac to the country’s duty free channel and the ‘excellent performance’ from e-commerce sales during the Double Eleven festival in November.
Meanwhile, the liqueurs and spirits division fared better than Cognac with growth of 3.7% in the year to date and a 2.8% gain in Q3.
Rémy Cointreau noted that growth for spirits and liqueurs was led by Cointreau liqueur and The Botanist Gin in the Americas region.
Within the Europe, Middle East and Africa (EMEA) region, the group returned to growth in most countries, driven by Cointreau and Greek spirit Metaxa.
Spirits and liqueur sales were in decline in China and the rest of Asia.
In addition, the firm’s ‘partner brands’ arm plunged by 26.3% in the first nine months of 2025-26 and decreased by 9.3% in Q3.
In terms of regions, Asia Pacific was down by low double digits in the year to date, with China also in double-digit decline.
The Americas region was up by high single digits over the nine months, with low single-digit growth for the US in Q3. Canada was up by mid-to-high single digits and Latin America saw ‘strong’ double-digit gains.
The EMEA region fell by low single digits in the year to date, with the UK and the Nordics in decline.
The group also noted that its transformation plan, announced in November, entered its execution phase in early 2026. This plan will help the group to “define and prioritise value-creation levers” before utilising them from the first quarter of its next financial year.
Full-year outlook
Rémy Cointreau has reiterated that it expects full-year organic sales to sit between stable and a low single-digit rise.
The group noted it would maintain investments in China and the US to “support its recovery”.
It predicts an organic decline in current operating profit (COP), ranging from low single digits to mid-teens.
This COP forecast includes a net impact from additional customs duties of €25m (split between €5m in China and the rest in the US), based on an increase in the minimum import price in China, and US tariffs of 15% for the EU and 10% for the UK and Barbados, where it makes Mount Gay rum.
Fellow French spirits rival LVMH also reported its financial results this week. The Hennessy Cognac maker posted a 5% wine and spirits sales drop in 2025.
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