Remy Cointreau Asian Sales Increase

Remy Cointreau’s revenue for the year ended 31 March 2011 grew 12%, driven by demand for Cognac in Asia and their travel retail business. It appears that cognac sales have risen 20% to €486 million throughout all their sales regions, but Asia have shown the largest growth, most notably in China where the market is buying everything it can get its hands on. China is currently the fastest growing sector of the cognac industry. Remy’s other brands did not do so well, with Metaxa sales declining and Mount Gay rum staying flat.

It appears that the Chinese are moving forward at an amazing rate with their willingness to buy cognacs. Their insatiable demand for luxury spirits is causing a big problem with producers, who are struggling to keep the older stocks in their cellars for maturation, as legal requirements do not protect cognacs after six and a half years of age.

Remy are not alone in their quest to sell to the Chinese markets, Hennessy lead the field as the biggest cognac supplier in China and the Far East, with Martell and Courvoisier following on behind. Only America has greater volume sales, but the highest value markets are dominated by the Chinese.