REMY COINTREAU SAVED BY CHAMPAGNE
French drinks company Remy Cointreau’s third quarter sales were up 0.2% at EUR610.5 million.
Sales growth of 3.7% in the company's own-brand products was counter-balanced by a 19% decline in sales growth for partner-brand products, which Remy Cointreau distributes for other companies.
“The_Famous_Grouse and The_Macallan Scotch whiskies grew in the US as did California wines,” the company stated. “The beginning of Imperia vodka distribution has not yet offset the cessation of the contracts for wine distribution.”
The strongest sales growth came from the group's Champagne division, up 5.3%, driven by Piper Heidsieck and Charles Heidsieck.
The company’s cognac division sales rose 4.2%, thanks to the U.S. and Asia, alone with high product mix. The Liqueurs & Spirits division's sales rose 1.9% with sales growth from Cointreau, particularly in the U.S., France, Benelux and Japan, the group said.
IS REMY FOR SALE? Meanwhile, rumors that Diageo may pull out of its j-v with LVMH in order to acquire Remy remain unsubstantiated. Diageo currently owns 34% of LVMH’s wine and spirits unit (Moet Hennessy), and is able to sell the stake to LVMH at a six months notice.
Another question – is Remy even for sale? – also remains unanswered. However, many people in the industry translate Remy’s departure from the Maxxium deal as a clue that the company will eventually go for sale.
Sales growth of 3.7% in the company's own-brand products was counter-balanced by a 19% decline in sales growth for partner-brand products, which Remy Cointreau distributes for other companies.
“The_Famous_Grouse and The_Macallan Scotch whiskies grew in the US as did California wines,” the company stated. “The beginning of Imperia vodka distribution has not yet offset the cessation of the contracts for wine distribution.”
The strongest sales growth came from the group's Champagne division, up 5.3%, driven by Piper Heidsieck and Charles Heidsieck.
The company’s cognac division sales rose 4.2%, thanks to the U.S. and Asia, alone with high product mix. The Liqueurs & Spirits division's sales rose 1.9% with sales growth from Cointreau, particularly in the U.S., France, Benelux and Japan, the group said.
IS REMY FOR SALE? Meanwhile, rumors that Diageo may pull out of its j-v with LVMH in order to acquire Remy remain unsubstantiated. Diageo currently owns 34% of LVMH’s wine and spirits unit (Moet Hennessy), and is able to sell the stake to LVMH at a six months notice.
Another question – is Remy even for sale? – also remains unanswered. However, many people in the industry translate Remy’s departure from the Maxxium deal as a clue that the company will eventually go for sale.
posted at 2:28 PM
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