Remy Cointreau Suffers Sales Drop Due to China Trade Measures
The Remy Martin Cognac maker, which is hunting for a new chief executive ahead of Eric Vallat's planned exit this summer, said organic revenue fell 19% in the fourth quarter, a bigger decline than analysts had expected.
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Bloomberg
25-07-2025
- Bloomberg
Stock Movers: Puma, Remy Cointreau, Carrefour
On this episode of Stock Movers: - Puma plunged after the German brand slashed its profit forecast in the face of weak demand for its sports and exercise gear and growing concerns about the impact of US tariffs. - Remy Cointreau SA lifted its profit guidance for the year, as sales of Cognac in the US rebounded and it avoided the most punitive impact of tariffs in China. - Carrefour SA is selling its Italian operations for an enterprise value of about €1 billion as Chief Executive Officer Alexandre Bompard leans on asset disposals to bolster the French supermarket chain's performance.
Yahoo
25-07-2025
- Yahoo
Rémy Cointreau: Sales up +5.7%1
2025-26 organic COP target raise:update on impact of tariffs in China and the United States Cognac: +1.3% on an organic basis Very steep rise in sales in the United States driven by a very favorable basis for comparison Limited decline in sales in China: tough market conditions and inaccessibility of Chinese duty-free markets; sales up slightly excluding duty-free. Liqueurs & Spirits: +17.3% on an organic basis Strong rise in sales in the United States, underpinned by Cointreau and The Botanist Renewed growth in EMEA2 driven by Cointreau, Metaxa and Mount Gay 2025-26 organic COP target raised: Return to mid-single-digit sales growth on an organic basis (unchanged) Organic COP: mid-to-high-single-digits decline (vs. mid-to-high-teens decline previously) PARIS, July 25, 2025--(BUSINESS WIRE)--Regulatory News: Rémy Cointreau (Paris:RCO) reported sales of €220.8 million in the first quarter of 2025-26, up +5.7% on an organic basis. On a reported basis, the rise was +1.8%, including a negative currency effect of -4.0% due primarily to trends in the dollar and the renminbi. Sales in the Americas rose by double digits, reflecting the very favorable basis of comparison. Sales in the APAC region edged down, as expected, hit by complex market conditions in China and the inaccessibility of Chinese duty-free markets. Lastly, the EMEA region recorded a fall in sales that mainly reflected fierce competitive pressures and sluggish demand for the Cognac division. By contrast, Liqueurs & Spirits were boosted by good momentum in the run-up to summer. Breakdown of sales by division €m Q1 2025-26 Q1 2024-25 Change asreported Organic change (April-June 2025) vs. Q1 2024-25 vs. Q1 2019-203 Cognac 131.3 135.5 -3.1% +1.3% -16.4% Liqueurs & Spiritueux 86.2 75.8 +13.6% +17.3% +58.4% Subtotal: Group Brands 217.5 211.3 +2.9% +7.0% +2.6% Partner Brands 3.3 5.7 -41.6% -41.7% -49.2% Total 220.8 217.0 +1.8% +5.7% +1.1% Cognac Cognac division sales rose +1.3% on an organic basis in the first quarter. As expected, this growth was driven primarily by the steep rise in sales in the Americas, particularly the United States. Sales benefited from a highly favorable comparison base. By contrast, the APAC region experienced a slight decline in sales, impacted by tough market conditions in China, especially in the high-end segment, and the inaccessibility of Chinese duty-free markets. This performance nonetheless reflected relatively good resilience, with modest growth excluding duty free, thanks to the outperformance of Rémy Martin CLUB and strong momentum in e-commerce, fueled by numerous activations during the 6/18 Festival. Lastly, the EMEA region recorded a sharp drop in sales, reflecting continued pressure from aggressive promotional activity and consumer caution in an uncertain economic environment. Liqueurs & Spirits Sales reported by the Liqueurs & Spirits division rose by +17.3% in organic terms in the first quarter. The Americas region, especially the United States, delivered significant growth, supported by a very favorable basis for comparison and the outperformance of Cointreau and The Botanist. During the quarter, Cointreau unveiled its new satirical campaign Any Tequila, starring Aubrey Plaza and spotlighting the Margarita, the top-selling cocktail in the United States. Simultaneously, The Botanist unveiled its new global campaign, All we need is now, which reflected a marked shift in the brand's identity. Sales in the EMEA region were boosted by good momentum for Cointreau, Metaxa and Mount Gay. During the quarter, Metaxa launched its first two ready-to-drink ranges in cans. The launch was accompanied by a new marketing campaign called Get your cocktails ON. At the same time, Telmont rounded out its range of organic wines by creating its Réserve de la Terre—Rosé cuvée, crafted exclusively with organically grown grapes. The move marked another milestone in the brand's transition to fully organic and regenerative viticulture. Finally, the APAC region also reported strong growth, driven by excellent results in China and the rest of Asia (Cointreau and Bruichladdich). Partner Brands Sales of Partner Brands declined by -41.7% on an organic basis in the first quarter. 2025-26 organic COP target raised In full-year 2025-26, Rémy Cointreau expects sales to return to mid-single-digit growth on an organic basis, driven primarily by a strong technical rebound in sales to the United States. Due to expected phasing effects in the APAC (mainly China) and the Americas (United States) regions, the Group anticipates a return to organic growth in the second half of the year. In addition, Rémy Cointreau has updated its assumptions regarding potential increases in customs tariffs following the minimum-price agreement signed with the Chinese authorities and the latest statements by the US president. The Group now anticipates a maximum total net impact of €45 million4 (vs. €65 million previously), broken down as follows: €10 million in China (vs. €40 million previously) €35 million in the United States (vs. €25 million previously) As revised estimates of the impact of customs duties are less than anticipated, the Group has opted to reallocate part of its investments, particularly in China. Taking these new assumptions into account, the Group now anticipates an organic decline in COP of mid-to-high-single-digits (vs. a decline of mid-to-high-teens previously). In a particularly volatile environment and based on its current scenario, the Group anticipates the following adverse currency effects over the full year: On Sales: between -€50 million and -€60 million (vs. -€30 million and -€35 million previously) On Current Operating Profit: between -€15 million and -€20 million (vs. -€10 million and -€15 million previously) RC Ventures acquires a minority stake in JNPR, a French pioneer in non-alcoholic spirits Rémy Cointreau Corporate Ventures, the venture fund launched by Rémy Cointreau in 2024, has acquired a minority stake in JNPR, an innovative French brand specializing in non-alcoholic spirits. This investment aligns with Rémy Cointreau's strategy of anticipating and testing emerging consumption trends, such as fast-growing demand for alcohol-free alternatives in France and internationally. Founded in 2020 by Valérie de Sutter, JNPR quickly established itself as a leading brand thanks to its wide range of non-alcoholic spirits — in particular the JNPR collection, featuring distilled recipes with no sugar. Its products are crafted in France from high-quality ingredients, especially juniper berries, the signature ingredient of gin and the hallmark of this collection. With this investment, JNPR will be able to accelerate its development in France and in select international markets. Under the terms of the agreement, Rémy Cointreau Corporate Ventures will contribute operational expertise in distribution and marketing, while fully preserving the creative and entrepreneurial independence of the founder and her teams. This transaction is also grounded in shared values including innovation, quality, environmental stewardship, and a commitment to responsible consumption. It was finalized on July 24, 2025. About Rémy Cointreau All around the world, there are clients seeking exceptional experiences; clients for whom a wide range of terroirs means a variety of flavors. Their exacting standards are proportional to our expertise – the finely-honed skills that we pass down from generation to generation. The time these clients devote to drinking our products is a tribute to all those who have worked to develop them. It is for these men and women that Rémy Cointreau, a family-owned French Group, protects its terroirs, cultivates exceptional multi-centenary spirits and undertakes to preserve their eternal modernity. The Group's portfolio includes 14 singular brands, such as the Rémy Martin and LOUIS XIII cognacs, and Cointreau liqueur. Rémy Cointreau has a single ambition: becoming the world leader in exceptional spirits. To this end, it relies on the commitment and creativity of its 1,856 employees and on its distribution subsidiaries established in the Group's strategic markets. Rémy Cointreau is listed on Euronext Paris. A conference call with investors and analysts will be held today by CFO Luca Marotta, from 9:00 am (Paris time). Related slides will also be available on the website ( in the Finance section. Appendices Q1 2025-26 sales (April-June 2025) €m Reported Forex Scope 25- Organic Reported Reported Organic 25-26 25-26 26 25-26 24-25 change Change A B C A/C-1 B/C-1 Cognac 131.3 -5.9 - 137.2 135.5 -3.1% +1.3% Liqueurs & Spirits 86.2 -2.7 - 88.9 75.8 +13.6% +17.3% Subtotal: Group Brands 217.5 -8.7 - 226.1 211.3 +2.9% +7.0% Partner Brands 3.3 - - 3.3 5.7 -41.6% -41.7% Total 220.8 -8.7 - 229.5 217.0 +1.8% +5.7% Regulated information in connection with this press release can be found at Definitions of alternative performance indicators Rémy Cointreau's management process is based on the following alternative performance indicators, selected for planning and reporting purposes. The Group's management considers that these indicators provide users of the financial statements with useful additional information to help them understand its performance. These indicators should be considered as supplementing those including in the consolidated financial statements and resulting movements. Organic sales growth: Organic growth excludes the impact of exchange rate fluctuations, acquisitions and disposals. The impact of exchange rate fluctuations is calculated by converting sales for the current financial year using average exchange rates from the prior financial year. For current-year acquisitions, sales of acquired entities are not included in organic growth calculations. For prior-year acquisitions, sales of acquired entities are included in the previous financial year but are only included in current-year organic growth with effect from the actual date of acquisition. For significant disposals, data is post-application of IFRS 5 (which reclassifies entities disposed of under "Net earnings from discontinued operations" for the current and prior financial year). It thus focuses on Group performance common to both financial years, over which local management has more direct influence. 1 All references to "on an organic basis" in this press release refer to sales growth at constant exchange rates and scope of consolidation2 Europe, Middle East and Africa3 At constant exchange rates (2024-25 rates)4 These estimates are calculated based on the following assumptions: An increase in the minimum import price in China as defined in the agreement signed with MOFCOM Customs duties of 30% on imports from the European Union (vs. 20% previously) and 10% from the UK and Barbados entering the United States. Note that the Group factored in 10% customs duties on all imports to the United States for April-July 2025 View source version on Contacts Investor relations: Célia d'Everlange / investor-relations@ Media relations: Mélissa Lévine / press@
Yahoo
06-07-2025
- Yahoo
China retaliates against EU with a ban on European medical devices
BANGKOK (AP) — China said Sunday that European medical device companies will be barred from selling to the Chinese government as a countermeasure for the European Union's restrictions on the sale of similar products from China. European companies will be excluded if the budget for procurement is above 45 million yuan ($6.28 million), according to a notice from the Finance Ministry on Sunday with the restrictions in place the same day. The move will not apply to European companies that have invested in China and that manufacture goods in the country. China on Friday imposed anti-dumping duties on European brandy, most notably cognac produced in France. While the duties on brandy include several exceptions for major brandy producers, China and the EU have multiple trade disputes across a range of industries. China protested after many European countries levied duties on EVs made in China. Since then, China has also launched investigations into European pork and dairy products. In June, the EU announced that Chinese companies were to be excluded from any government purchases of more than 5 million euros ($5.89 million). The measure seeks to incentivise China to cease its discrimination against EU firms, the EU said, accusing China of erecting "significant and recurring legal and administrative barriers to its procurement market.' In response, China has said it had 'no choice but to implement countermeasures.' 'China has repeatedly expressed through bilateral dialogues that it is willing to properly handle differences with the EU through dialogue and consultation and bilateral government procurement arrangements,' said a statement from a spokesman with the Ministry of Commerce. 'Unfortunately, the EU has ignored China's goodwill and sincerity and still insisted on taking restrictive measures and building new protectionist barriers.'
