Remy Cointreau considers India options as rumours swirl
Remy Cointreau said it is considering the way forward in India
Remy Cointreau has confirmed it is looking at “various” options around its presence in India, but has declined to comment on local reports that it plans to close its office in the country.
India's Economic Times reported today that the French group plans to shut its headquarters in India, with around 30 jobs under threat. When contacted by just-drinks today, however, a Remy Cointreau spokesperson said it will not comment on “press rumours”.
The spokesperson confirmed that the firm is “studying various scenarios and options to improve our presence (in India), not to move away”. The Remy representative added: “India definitely remains a strategic market for us, with great potential.”
The firm's strategy to concentrate on its premium portfolio could be coupled with an “adaptation” of its distribution network and approach, the spokesperson added.
Remy's performance has been heavily impacted by the anti-extravagance measures in China of late. However, Q3 sales, reported in January, highlighted a recovery for the company throughout its Asia-Pacific region.
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