Remy Cointreau sees “remarkable growth” in Asia Pacific for full year 2017
Remy Cointreau posted a 2.9% increase in full-year sales for 2017, due, in large part, to “remarkable” growth in the Asia Pacific region. Sales hit €1.13 billion, driven by strong cognac sales at the House of Remy Martin, in what the company described as an “outstanding” year. The company’s cognac was particularly well received in China, as well as the U.S. and Russia, and it also benefited from good travel sales.
Remy Cointreau’s share price has appreciated by 41% over the past 12 months
SOURCE: Yahoo Finance
Over the course of the year, Remy saw a handful of events that boosted sales. Its Remy Martin cognac brand was given a helping hand when it released a second limited-edition version of Carte Blanche a Baptiste Loiseau. It also benefitted from pop-up shops in the UK, Russia and China, and “communication investments” for XO Cognac.
Louis XII also got a leg up on the competition when it launched a limited-edition crystal magnum (The Legacy), and revealed its 100 years campaign alongside hip-hop star Pharrell Williams.
In a statement, the company said: “The House of Cointreau pursued growth, led by rapid expansion in its newer markets (notably Greater China and Russia) and a good year in the US amid more moderate market conditions. The brand is launching a new global communication campaign and intends to take advantage of the 70th anniversary of the margarita’s creation this year, celebrating Cointreau as a key ingredient of the original recipe.”
“With full-year sales in line with the group’s forecasts, Rémy Cointreau confirms its guidance of growth in current operating profit for the financial year 2017/18, assuming constant exchange rates and consolidation scope.”
Dominion holds Remy Cointreau in its Global Trends Luxury Fund.
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