French drinks giant Rémy Cointreau has revealed a like-for-like dip in performance for the first half of 2015, with its value sales undergoing a 5.9-per-cent drop, thedrinksbusiness.com reports.
Rémy Martin Cognac was down by 3.1 per cent, while its liqueurs and spirits section, which incorporates brands such as Passoã, Cointreau and Bruichladdich, was down by 8.3 per cent for the six month period, in comparison to the same period in 2014.
Partner Brands, one of its subsidiaries, was down by 12.6 per cent – a fall attributable to a cancelled contract between Rémy and Piper and Charles Heidsieck Champagnes.
Technically, the multinational grew by 6.1 per cent during 2015 H1, but this owes to the weakening of the euro in comparison to other major world currencies.
“Changes in distributors in certain markets and the adaptation of the distribution network in China” contributed to the reduction in sales value, Rémy commented.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. To subscribe to ESM: The European Supermarket Magazine, click here.