Rémy Cointreau: a first quarter in line with expectations

[vc_row njt-role=”people-in-the-roles” njt-role-user-roles=”administrator,editor,author,armember”][vc_column][vc_column_text]

The French spirits group Rémy Cointreau had a turnover of 257 million euros, down 35% in the first quarter of 2023.

 

Rémy Cointreau has just completed a first quarter in line with expectations, with organic sales down 35%.

 

This drop in sales of more than a third is mainly due to a significant decrease in the level of Cognac’s stocks on the American continent, as well as to a further normalization of consumption. In addition, the company has strong growth in the rest of the world, especially in Asia.

 

Sales in the Cognac division fell 45% organically. Still organic, the Liqueurs & Spirits sector fell by 11%.

 

In contrast, in the Asia-Pacific (APAC) region, China recorded very strong growth, as did Southeast Asia. The Europe-Middle East-Africa (EMEA) region, for its part, shows double-digit growth, driven by all these regions.

 

Prospects for the future

 

For the year 2023-2024, the group maintained its stable revenue orientation, with a sharp decline in the United States, in contrast to a significant recovery over the rest of the year: “In 2023-24, Rémy Cointreau anticipates a strong normalization of consumption in the United States, although the trends will nevertheless remain significantly higher than in 2019-20,” said Rémy Cointreau in a statement.

 

At the same time, the group anticipates strong growth in the rest of the world, driven by significant gains in China, a very good performance in EMEA and the rest of Asia, and activity similar to the levels observed in 2019-20 in travel retail“.

 

The group’s anticipated revenue for this year included a sharp decline in revenue in the first half and a recovery in growth in the following half, in the wake of a clear rebound in activity in the United States from the third quarter onwards.

 

In addition, the family group unveiled a new global marketing activation for its brand Rémy Martin, featuring American singer and performer Usher.

 

Read also >Rémy Cointreau records a record year

 

Featured photo : ©Press[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]

The French spirits group Rémy Cointreau had a turnover of 257 million euros, down 35% in the first quarter of 2023.

 

Rémy Cointreau has just completed a first quarter in line with expectations, with organic sales down 35%.

 

This drop in sales of more than a third is mainly due to a significant decrease in the level of Cognac’s stocks on the American continent, as well as to a further normalization of consumption. In addition, the company has strong growth in the rest of the world, especially in Asia.

 

Sales in the Cognac division fell 45% organically. Still organic, the Liqueurs & Spirits sector fell by 11%.

 

In contrast, in the Asia-Pacific (APAC) region, China recorded very strong growth, as did Southeast Asia. The Europe-Middle East-Africa (EMEA) region, for its part, shows double-digit growth, driven by all these regions.

 

Prospects for the future

 

For the year 2023-2024, the group maintained its stable revenue orientation, with a sharp decline in the United States, in contrast to a significant recovery over the rest of the year: “In 2023-24, Rémy Cointreau anticipates a strong normalization of consumption in the United States, although the trends will nevertheless remain significantly higher than in 2019-20,” said Rémy Cointreau in a statement.

[…][/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Fluxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…

Already have an account ? Please log in.

[/vc_cta][vc_column_text]Featured photo : © Press[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”people-in-the-roles” njt-role-user-roles=”subscriber,customer”][vc_column][vc_column_text]

The French spirits group Rémy Cointreau had a turnover of 257 million euros, down 35% in the first quarter of 2023.

 

Rémy Cointreau has just completed a first quarter in line with expectations, with organic sales down 35%.

 

This drop in sales of more than a third is mainly due to a significant decrease in the level of Cognac’s stocks on the American continent, as well as to a further normalization of consumption. In addition, the company has strong growth in the rest of the world, especially in Asia.

 

Sales in the Cognac division fell 45% organically. Still organic, the Liqueurs & Spirits sector fell by 11%.

 

In contrast, in the Asia-Pacific (APAC) region, China recorded very strong growth, as did Southeast Asia. The Europe-Middle East-Africa (EMEA) region, for its part, shows double-digit growth, driven by all these regions.

 

Prospects for the future

 

For the year 2023-2024, the group maintained its stable revenue orientation, with a sharp decline in the United States, in contrast to a significant recovery over the rest of the year: “In 2023-24, Rémy Cointreau anticipates a strong normalization of consumption in the United States, although the trends will nevertheless remain significantly higher than in 2019-20,” said Rémy Cointreau in a statement.

[…][/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Fluxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…

Already have an account ? Please log in.

[/vc_cta][vc_column_text]Featured photo : © Press[/vc_column_text][/vc_column][/vc_row]

Picture of The editorial team
The editorial team
Thanks to its extensive knowledge of these sectors, the Luxus + editorial team deciphers for its readers the main economic and technological stakes in fashion, watchmaking, jewelry, gastronomy, perfumes and cosmetics, hotels, and prestigious real estate.

Subscribe to our Newsletter

Sign up now to receive sneak previews of our programs and articles!

Launch offer:

Your participation in the Camille Fournet Masterclass reserved for annual subscriber !

Luxus Plus Newsletter