Ahead of the release on Thursday of Remy Cointreau’s first-quarter 2018 trading update, here’s a look at the events that shaped the three months to the end of June for the company.?
- In April, Remy announced an extension of its distribution tie-up in Russia with Russian Standard’s owner, Roust Group. The deal, which is balanced by Remy’s representation of Roust’s brands in Poland, Hungary and Travel Retail, will see a further three years added to the Russian contract
- In mid-May, the group unveiled its eighth annual limited edition Remy Martin expression. This year’s iteration, an XO Cognac that commemorates the Cannes film festival, carries a suggested retail price of around US$230
- Toward the end of the month, the Cointreau brand became the recipient of a $1.3m marketing push in the UK, centred around the ‘Cointreau Fizz’ serve
- June saw Remy confirm that its Chinese wine JV partner, Dynasty Fine Wines, remains under investigation among earlier allegations of fake invoicing and the sale of expired wines. The news was followed at the end of the month by Dynasty’s announcement that it is looking to offload almost $60m-worth of assets
Full-year 2017 highlights
- Sales rise 4.7% to EUR1.09bn (US$1.16bn)
- Underlying operating profits up 14% to EUR226.1m
- Reported operating profits jump 27%
- Reported net profits climb 86% to EUR190.3m
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Cognac is back – is Remy Cointreau ready? – Click here for a just-drinks analysis
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