- Third-quarter sales inch up 1.3% to EUR45.9m (US$49.6m)
- France flat in Q3 (-0.6%), ‘international’ sales rise by 2.8%
- Top line in nine months to end of September declines 2.2% at EUR140.8m
A slight lift in sales in the most recent quarter has cancelled out Q2’s fall for Marie Brizard Wine & Spirits, although the brand owner is still behind the curve in the year to date.
The Sobieski vodka and Gautier cognac brand owner joined the small group of listed beverage alcohol companies to deliver sales growth in the three months to the end of September. The +1.3% showing follows the previous quarter’s 1.1% sales dip, although Q1’s decline of 6.9% means that 2024 so far is down by 2.2% for the company.
The three-month period was a game of two halves for Marie Brizard, as sales in its domestic market of France came in flat at -0.6%, while its ‘international’ region grew its top line by 2.8%. The namesake liqueur brand was the outlier at home, thanks to the success of recent NPD, while further afield, a slump in the US – dropping 11.4% as Sobieski struggled against “stiff competition” and with distributor destocking – was offset by an 18.4% leap in Asia Pacific. The latter region saw lifts for the liqueur in Japan and South Korea, while Gautier did well in Australia.
“As expected, markets have contracted this year in terms of both volumes and value under the effects of normalisation on the spirits market and macro-economic pressure on purchasing power and consumer demand,” the company said this week. “This decline has been accentuated by inventory rundowns in certain distribution channels.
“Against this backdrop of slowing markets for wines and spirits, with limited and volatile commercial visibility, the group remains vigilant while continuing to focus on strategic development priorities. This includes adapting to the price elasticity of the consumer demand while pursuing its commitment to innovate.”
