Rémy Cointreau’s revenue growing driven by Asian demand
By 2011-4-29 17:34:31
Cognac sales rose 20% to EUR 486 million while liqueurs and spirits, reflecting a decline in sales of the Greek brand Metaxa, was little changed at EUR 208m. Sales in the soon-to-be-sold Champagne division rose 7.2% to EUR 103.6m.
All geographic regions contributed to this growth, particularly Asia and travel retail, where demand remained “very strong”, the company said. “This performance reflects the strength of the group’s premium brands and the expertise of its distribution network,” it added in a statement.
Chief executive officer Jean-Marie Laborde said: “This performance confirms the group’s strategic orientation. It reflects the dynamism of our major brands with strong added value.
Rémy Martin Cognac repeated strong growth in its strategic markets and, once again, reported double-digit growth during the year of 19.8% – up 12.1% organically.
The pace of growth was sustained in Asia, most notably in China, while Europe was driven by Russia but also by western Europe.
From cnwinenews