Drinks group Rémy Cointreau said that sales were up 13.1% at its premium House of Rémy Martin spirits arm in the first nine months of the year, boosted by double digit growth for the brand across all regions.
Overall, Rémy Martin posted an 8.1% increase in organic sales in the nine-month period, to €919.4 million.
The third quarter of its financial year (+8.7%) saw the biggest gains, it said.
The earlier timing of the Chinese New Year in 2019 (5 February as opposed to 16 February in 2018), helped boost the group by one percentage point in the period, it said.
As well as a positive performance for Rémy Martin, which was boosted largely by a positive performance in the Asia-Pacific region and in the US, its Liqueurs & Spirits division saw a 2.3% increase in sales, boosted by communication campaigns.
Liqueurs & Spirits Growth
In Liqueurs & Spirits, Cointreau saw sales up as a result of 'The Art of The Mix' campaign, as well as marketing activities around the 70th anniversary of the Margarita. Elsewhere, Metaxa 'continued its upscaling strategy', the group said, while Mount Gay, St-Rémy and The Botanist all saw growth.
However, its Partner Brands portfolio continued to decline (-13.6%), consistent with the group's strategy to refocus its efforts on its group-owned brands.
'The Group's two growth engines – the Asia-Pacific region and the Americas – demonstrated excellent momentum over the period, and particularly in the third quarter,' Rémy Cointreau said in a statement.
'While the end of Partner Brand distribution agreements continued to weigh on Europe, the Middle East and Africa (EMEA) over the nine-month period, the third quarter showed a sequential improvement.'
Looking ahead, Rémy Cointreau said that it was confirming its guidance for growth in current operating profit over the 2018/19 financial year.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.
