Paris (January 25, 2022). French drinks group Rémy Cointreau saw high double-digit growth in the third quarter of its fiscal year, boosted by a strong performance in all regions.
The group posted sales of €440.5m ($498.9m) for the three months to Dec. 31, a rise of 21% on an organic basis from the same period last year.
Rémy’s revenue for the first nine months of fiscal 2022 reached €1.09bn, up 38% organically on year.
The key Cognac division continued to see buoyant demand in the third quarter, up 19.4%, and 38.5% for the nine months. Consumption trends in the US remained strong. The Group continued to pursue its value strategy, with its high-end brands Louis XIII, Rémy Martin XO, 1738 Accord Royal outperforming.
The Group’s Cognac brands also generated high growth in China marked by the strong performance of Club, strong momentum in e-commerce and favourable timing of phasing (Chinese New Year) adding around 2.5% share points to its Cognac operations. Rémy Martin launched a new advertising campaign for its XO level variants featuring singer and actor Yifeng Li.
The company also launched a special edition Rémy Martin Club with the Scale Collective in Shenzen last November. Following the initial launch, the brand will now be rolled out into Asia (Japan, Taiwan and Hong Kong), Russia and Mexico.
Sales in the Liqueurs & Spirits division also rose strongly, up by 39% in Q3 on an organic basis. Cointreau maintained its momentum in the US, supported by its successful campaign with actress Jennifer Alba. In China, the group saw major growth of its whisky business, particularly in the eastern and northern parts of the country.
All regions contributed to the strong quarterly performance. The Americas region generated strong growth despite a high base. The APAC region also generated strong growth, led by China and northern Asia. Very strong growth in the EMEA region confirmed the recovery seen in the first half of the year.
