Rémy Cointreau's expensive cognacs perform well in Asia

Rémy Cointreau's expensive cognacs perform well in Asia
Shutterstock

French liquor group Rémy Cointreau had an excellent third quarter. Its more expensive bottles of cognac were very popular, especially in China, Japan and Singapore.

Expensive cognac was popular

In the six months after the end of its previous broken fiscal year (which ended in March 2017), the liquor manufacturer Rémy Cointreau generated a 544.4 million euro turnover, which is 6 % higher than last year. The quarterly results also show that the group had a 134.1 million euro operational profit, which is an 8.2 % improvement. Its net profit reached 90.3 million euro, which is a 17.9 % increase.

 

Rapidly-growing sales for its expensive cognac, sold for 50 euro and more in Asia, are the main reason for Rémy Cointreau’s growth. Sizeable investments in marketing and its distribution network clearly paid off in Asia. There was also increased demand for luxury cognac in Europe, the Middle Eas and Africa.

 

There is a clear distinction visible between Remy Cointreau’s more expensive cognacs and its liquors and other products. The company points to the removal of its popular Passoã liquor, which was transferred to the Dutch liquor manufacturer Bols.

Questions or comments? Please feel free to contact the editors


Gerelateerde items

Hema returns to profitability

07/12/2017

Hema has become profitable again: after improved net losses in the past quarters, the Dutch chain has managed to become profitable again in the third quarter.

Walmart wants to shed its "store" label

07/12/2017

American Walmart is legally Wal-Mart Stores, but its popular name has long since been Walmart. However, the company will now alter that: in this eCommerce era, it aims to be more than merely a store chain.

Huge third quarter loss for Hudson’s Bay

07/12/2017

Canadian Hudson’s Bay suffered a huge loss in its third quarter of 2017. Its turnover also slumped compared to the year before.

Ahold tells Delhaize to innovate faster

05/12/2017

Delhaize should innovate faster and Ahold Delhaize CEO Dick Boer feels Albert Heijn CEO Wouter Kolk should show the Belgians how. He also talked about Amazon and bol.com in the remarkable interview. 

JYSK published record results once more

01/12/2017

Danish JYSK published a record 3.36 billion euro turnover in its 2016-2017 fiscal year. Backed by more than 2,500 stores worldwide, it achieved yet another record.

Carrefour and Fnac Darty consider purchase alliance

01/12/2017

Supermarket firm Carrefour and electronics seller Fnac Darty are considering an alliance for their electronics acquisitions. The combination could lower purchase prices.

Back to top