Big Changes at Remy Cointreau USA

FILED APRIL 20, 2015

Dear Client:

Despite the fact that the US is one of Remy Cointreau's strongest regions at the moment, WSD has learned Remy Cointreau USA chief Suriya Parksuwan is leaving the company at the end of May. He will be replaced by cosmetic industry veteran Philippe Farnier who will assume the role of svp Americas zone, according to an internal announcement. He will join the executive committee and report to new Remy Cointreau chief Valerie Chapoulaud-Floquet.

Philippe comes to Remy Cointreau from LVMH -- as did Valerie -- where he was the general manager EMEA travel retail for Parfums Christian Dior. Before LVMH he held the role of sales director and general manager of France for Yves Saint Laurent Beaute Group from 2003 to 2008.

You may recall, Valerie's first move as chief of Remy Cointreau was to shake up the group's top management team, increasing the executive committee from six to 12 members and have more of them report directly to her.

"On your behalf, I would like to thank warmly Suriya for his contribution to our Group and lately to the success of Remy Cointreau USA during these last years. We wish him every success in his future professional ventures," writes Valerie.

In addition to the executive change, WSD has learned from sources close to the situation that the Charles and Piper Heidsieck brands are ending their US distribution agreement with Remy Cointreau.

You may recall, Remy Cointreau sold the Heidsieck brands to French luxury goods firm Societe Europeenne de Participations Industrielles in 2011 for $593 million. At the time, the two parties signed a global distribution agreement for Charles and Piper-Heidsieck labels as well as Piper Sonoma.

Sources say the distribution agreement is set to end this summer. Charles Heidsieck is expected to go to Folio Fine Wine Partners while flagship Piper Heidseick will likely go to Terlato Wines.

As of press time, requests for comment went unanswered by both Remy and Suriya.

Until tomorrow,

"There is only one you... Don't you dare change just because you're outnumbered!" -- Charles Swindoll

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