Remy Cointreau reports strong second-quarter driven by cognac sales in China

By Laura Mullan
Remy Cointreau sales continued to rise in the second quarter, beating analyst estimates. The distiller generated EU€571.4mn (US$656.23mn) in sales in...

Remy Cointreau sales continued to rise in the second quarter, beating analyst estimates.

The distiller generated EU€571.4mn (US$656.23mn) in sales in the first half of the year, dampening concern that the slowing Chinese economy would weigh on cognac sales.

Sales of Remy Martin cognac rose 12.2% in the second quarter, driven by an “excellent performance” in Asia-Pacific, specifically in Greater China.

SEE ALSO:

The Paris-headquartered firm said that its liqueurs and spirits division had a “more moderate start” with a 0.8% increase. 

The company said it expects its liqueurs and spirits sales to pick up in the second half of the year as they conduct more communication campaigns.

Remy Cointreau has also refocused its strategy, shifting away from its cheaper brands and zeroing in on selling more expensive bottles of spirits.

In doing so, it hopes to tap into a rebound in the luxury Chinese market. 

The distiller reaffirmed its standard forecasts for full-year profit to rise, assuming a constant exchange rate. 

Share

Featured Articles

US Bird flu Turns Spotlight on Milk Pasteurisation

As bird flu sees sales of raw milk spike, we look at the work of Tetra Pak, a giant in the world of pasteurisation.

Nestlé 'Meeting Sustainability Targets on Nescafé Coffee'

Nestlé is meeting targets on sustainably-sourced Nescafé coffee, & has donated 21mn plants as part of global ESG initiatives, a company report claims

Coffee Prices Soar as Extreme Weather Hits Brazil & Vietnam

Global coffee supplies hit by high rainfall in Brazil and a heatwave in Vietnam, and Smart Cube analyst Kanica Goel says situation unlikely to improve soon

Guinness & Carlsberg Back Drought Resistant Grain for Beer

Drink

Tyson Foods Shares Plummet in Face of Costs & Inflation

Food

Nestlé ESG Programme 'Boosting Cocoa Farmers' Income'

Sustainability