Remy Cointreau will he a toast to celebrate the growth of its sales in the first quarter of fiscal year 2010-2011? From April to June 2010, the total turnover amounted in effect to 170.9 million euros, up 19.3% excluding currency effects (23.6% as reported) from Figures released on Thursday on the group's website. Off partner brands, sales totaled 149.7 million euros, increasing by 21.3% excluding currency effects (25.7% as reported).
The group attributes this success to "the effectiveness of its new distribution system [established on 1 April 2009, note], the strength of its brands and the relevance of its marketing investments."
The cognac and champagne up sharply
Remy Cointreau is pleased that the sales growth for all regions except Japan.
The group of wines and spirits enjoy the exhilaration of the cognac sector advancing by 37.7% organic. Remy Cointreau said the "very positive dynamic in China and in Travel Retail" adding that "the United States and Europe are also growing."
The champagne also rebounded 20.7% after problems at the end of last year. The group said that in Japan and Australia, growth is adversely affected by high inventories.
However, the sector Liquors and Spirits trouble restarting. He recorded a slight increase of 0.4% as reported and a decline of 3.4% excluding currency effects.
"Staying the course"
Remy Cointreau said that "in a still uncertain economic environment," he "stays the course with its strategy of long-term value," focusing on "development of its leading brands."
The group said it had "successfully issued a bond of 205 million euros in June last and benefit from the improved level of the dollar against the euro.