Rémy suffers sales setback in Q1

Rémy Cointreau’s move into premium pricing has unnerved its Asian and American markets, contributing to a 9% sales decline in the three months to 31 June.

Rémy Martin Cognac continues to fall out of favour in China (Photo: Rémy Cointreau

Asian orders for Rémy Martin Cognac continue to fall (Photo: Rémy Cointreau)

While revenues from higher-priced sales marginally improved by 3.9% to €223.3 million (£156m) in the period, falling Cognac orders from Asia and slow consumer adjustment to pricier Cointreau in the US led to poor volume sales.

The company’s Cognac division, Rémy Martin, suffered a 6.7% decline in organic sales. Rémy’s Liqueurs and Spirits division, which includes Islay whisky Bruichladdich and Cointreau, fell by 13.8%, the French company revealed.

Rémy Cointreau has blamed the poor performance of Liqueurs and Spirits on recent political and economic problems in Europe. Greek liqueur Metaxa suffered particularly badly from the country’s near-exit from the EU, and Russian sanctions continue to hamper the group’s Travel Retail sales.

Western Europe and Middle East & Africa proved better markets for Rémy in the period, posting healthier performances. However, these markets couldn’t counter sharp declines elsewhere – declines that have spooked the market and led to a 4% fall in Rémy Cointreau’s share price according to Bloomberg. 

Last month, the company revealed its intention to move squarely into the premium spirit market off the back of improving sales of its high-end Scotch and favourable trends for Cognac in the US.

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe to our newsletters

International Marketing

Paris, France

Sales & Marketing Executive

Vintage Roots Ltd
Heckfield, Hook, Hants

Trade Marketing Manager

Boisset La Famille des Grands Vins
London, UK


Lanka Premium Beverages
Colombo, Sri Lanka

Marketing Executive

IWSC & Club Oenologique
London, UK

Sales Manager

Alliance Wine
Glasgow, UK

Sales Account Manager

London, UK

Sales and Business Development Manager (Spirits)

Protege International Group Cyprus Ltd
London, UK

Business Developer Europe

Copenhagen, Denmark or Haarlem, Netherlands

Wine Sales Administration & Customer Service Assistant

Waddesdon Wine
Waddesdon, Aylesbury, UK

Sangiovese Reset

London,United Kingdom
3rd Mar 2020

Washington State Wine

London,United Kingdom
10th Mar 2020

Prowein 2020

15th Mar 2020
Click to view more