FRANCE: “Best year ever” for Cognac sales – figures
2007 was the "best year ever" for global sales of Cognac and the "sixth consecutive year of growth", according to trade body Bureau National Interprofessionnel du Cognac (BNIC).
A total of 158m bottles were sold last year, an increase of 4.1% on 2006, beating the previous record of 157m bottles set in 1989. In value terms, sales rose by 6% to EUR1.6bn (US$2.31bn).
While there was export growth in all categories of Cognacs exported, the BNIC underlines that 2007 confirmed the trend towards more upmarket products "with older vintages increasing at a faster rate than younger ones".
"Despite the very high level recorded at the end of 2006," exports to North America grew by 5.7% last year, driven by demand in the US. In contrast, volumes bound for the European market fell by 3.6% to 55.4m bottles, largely due to a significant decline in bulk shipments, the BNIC notes.
Exports to the Far East were up 12.9% to 39.6m bottles with China enjoying the highest growth rate of all markets in 2007.
The Cognac market – or at least the VSOP-and-above part of it – is riding the crest of a wave and will be finding it increasingly difficult to meet demand. But having seen booms and busts before, Chri...
Beam Global Spirits & Wine was the frontrunner to land Absolut vodka but was pipped at the post by Pernod Ricard. However, president and CEO Tom Flocco says the company has quickly put that disappoint...
Pernod Ricard has been set a selection of hoops to jump through ahead of the closure of its acquisition of Vin & Sprit....
The director of L & L, the French company known for its Cognac-based cocktail Alizé, has been taken into police custody this week in Bordeaux....
Remy Cointreau USA has appointed Xavier Desaulles as senior vice president - sales strategy. In this role, he will be charged with organising Remy Cointreau USA's wholesaler network and implementing t...
The value of global French spirits exports increased by 3.3% in 2007 on the previous year totalling a little over EUR2.64bn, according to figures issued by the Fédération Française des Spiritueux (F...
LVMH Moët Hennessy Louis Vuitton is releasing a limited edition Hennessy XO 888 gift box in the US, in time for the opening of the Beijing Olympics this summer....
Camus Cognac has set up a new regional sales office in Vietnam and reorganised its commercial team in Asia/Pacific....
- Can craft breweries compete in lager arena?
- SABMiller's Q1 sales performance by region - Focus
- A Wild Geese, Pernod Ricard conspiracy theory?
- Remy Cointreau's Q1 performance by brand, region
- A snapshot of the UK spirits market - Focus
- Diageo appoints new Smirnoff head
- Brown-Forman takes distribution in Spain in-house
- AB InBev halts VAIP incentive plan
- New Hendrick's Gin would have to be "unusual"
- Gruppo Campari trials Negroni pre-mix
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Global travel retail insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends