FRANCE: Remy Cointreau predicts slowdown - report
The Chairwoman of French Cognac and Champagne group Remy Cointreau has said emerging markets in Asia will feel the effects of a slowdown in western economies, according to a report.
Dominique Heriard-Dubreuil told Reuters last week that Remy had planned for a year of stagnation as economic problems in the US and Europe reverberated into emerging Asian markets, albeit not as seriously.
Her stark comments were in contrast with drinks giants Diageo and Pernod Ricard, which have both strenuously denied vulnerability to falling consumer confidence and worsening economic conditions in key western markets.
Remy said in July that sales dropped 5.6% in its first quarter ended 30 June, largely because of a slowdown in the US. It warned of a tough year ahead.
Some drinks analysts have suggested emerging markets in Asia may help to insulate international drinks firms from the worst of the economic problems in the west.
Pernod Ricard CEO Pierre Pringuet said at the French wine & spirit group's results conference in July that there was "no sign of a slowdown in Asia".
He added that Asian economies, particularly China, had loosened ties with the US. "These economies rely much more on their domestic markets than before," he said.
Both China and the US have in different ways been exciting growth markets for the drinks sector in recent years but for obvious reasons neither is quite what they were. Chris Losh looks at how both ma...
Neither economic gloom nor the presence of an illustrious neighbour appear to be overshadowing Armagnac, France's less well known brandy denomination. Chris Losh found the region's producers to be in ...
Rémy Cointreau is to restructure its global travel retail division once the French drinks group leaves the Maxxium distribution partnership in April....
French wine and spirits exports declined last year, damaged by a marked slowdown in the final quarter, according to trade body the Fédération des Exportateurs de Vins et Spiritueux (FEVS)....
Hennessy Cognac, part of the LVMH group, has appointed André de Bausset as its international director....
LVMH Moët Hennessy Louis Vuitton has posted flat full-year profits, on the back of a slight rise in sales....
Russian Standard Vodka is to be distributed in South East Asia by Maxxium Worldwide, with Maxxium partner Beam Global Spirits & Wine set to take lead responsibility and eventual distribution control i...
Fortune Brands chief executive Bruce Carbonari has said he remains confident that the group's spirits arm, Beam Global Spirits & Wine, can ride out recession, despite a tumble in sales and profit....
- Job cuts not the whole story at AB InBev - Comment
- Diageo's smart Seedlip sustainability move
- The decline of the flagship beer brand - Comment
- Pernod Ricard Q4/FY 2016 results - Preview
- Craft spirits shake-out will be just the beginning
- AB InBev to cull 5,500 jobs after SABMiller buy
- Diageo revamps Gordon's gin bottle in UK
- CEO Paul Schaafsma set to leave Accolade Wines
- Heineken unveils new mid-strength lager Heineken 3
- Concha y Toro sees H1 profits, sales jump - result
- The Next Seven Big Beverage Markets
- Global rum insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Carlsberg AS (CARL B) - Financial and Strategic SWOT Analysis Review