FRANCE: Rémy Cointreau hails nine-month sales rise as Cognac stays strong
Rémy Cointreau posted strong Cognac sales in the US
Rémy Cointreau has posted a healthy jump in year-to-date sales as Cognac sales remained strong despite the later Chinese New Year.
Total sales rose by 17.5% to EUR964.4m (US$1.29bn) in the nine months to the end of December, with Remy's own brands up by 20.6%, the Paris-headquartered company said today (17 January). Sales of its Rémy Martin brands increased by 12.4% in the same period, as super-premium Cognac in Asia continued to grow, Rémy said.
Cognac sales in the US were also buoyant while Remy's liquor and spirits posted “strong gains” in the country, it said.
Today's results included a full quarter of sales of Bruichladdich, which Remy bought last year for about US$90m.
Remy confirmed in November its objective of significantly increasing its full-year earnings.
Shares in the company were up about 3% in early trading.
To read Remy's official statement, click here.
A recent bout of activity in the Cognac region - from investment to divestment - suggests lively times ahead for the brandy and Cognac category. Ian Buxton looks at the headlines, and sees his eye bei...
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