Latest news with #RemyCointreau
Reuters
35 minutes ago
- Business
- Reuters
Remy Cointreau withdraws its mid-term goals and posts lower annual profits
PARIS, June 4 (Reuters) - French spirits group Remy Cointreau ( opens new tab reported a smaller-than-expected 30.5% drop in annual organic operating profit, withdrew its mid-term goals and said sales would return to mid-to-single-digit growth during the next financial year. The maker of Remy Martin cognac and Cointreau liqueur said on Wednesday that the lower profits reflected weak sales in its key markets of China and the United States, where the group also faces tariff threats. Remy Cointreau, which last week named luxury goods veteran Franck Marilly as its new chief executive, said it had decided to withdraw its objectives for 2029-30, citing continued uncertainty tariffs. Its group operating profit fell 30.5 percent on an organic basis to 217 million euros ($246.7 million) for the full year ended March 31, 2025, which compared with analysts' expectations of a 31.7% fall in a company-compiled consensus of 15 analysts. ($1 = 0.8796 euros)
Reuters
7 days ago
- Business
- Reuters
Who is Remy Cointreau's new CEO, Franck Marilly?
May 28 (Reuters) - French wines and spirits company Remy Cointreau ( opens new tab announced on Wednesday that Franck Marilly will replace CEO Eric Vallat who resigned earlier this year. Marilly will take up his new role on June 25, after a transition period working with Vallat. Marilly, 59, is from France and has more than 30 years of experience working in luxury and cosmetics groups. He is a graduate of the EDC Paris Business School. Having lived and worked internationally, he said in a press release he has a deep attachment to the land in south-west France, where he is from and where the Cognac region is located. Marilly started his career in the luxury industry as a general manager for a division of the fragrance group Chanel in 1991. He worked for consumer goods giant Unilever between 1994 and 2001, first as managing director of the cosmetics export division then managing cosmetics for Spain and Portugal followed by France and Belgium. Marilly came back to Chanel to be managing director of the Italian and then French market before being promoted to senior vice president of U.S. fashion. In 2010, he returned to Europe to become the continent's managing director for Chanel's fragrance and beauty until 2017. Before joining Remy Cointreau, he was working for Japan's Shiseido as President and CEO and Chairman of the EMEA and global fragrance division. In February, he was also appointed as Foreign Trade Adviser of France. Marilly will have to lead the French cognac maker through a period of sales decline and tariff threats in its key U.S. and Chinese markets. "We are convinced that he will bring a new dynamic and will be able to confidently address the new challenges of the Group's growth in a complex macroeconomic and geopolitical context," Chairwoman of the Board of Directors Marie-Amélie de Leusse said in a press release. Remy makes some 70% of its sales from cognac, mostly in the U.S. and China, but right now, drinkers in those nations are not buying the brandy and sales have fallen.
Yahoo
7 days ago
- Business
- Yahoo
Factbox-Who is Remy Cointreau's new CEO, Franck Marilly?
(Reuters) -French wines and spirits company Remy Cointreau announced on Wednesday that Franck Marilly will replace CEO Eric Vallat who resigned earlier this year. Marilly will take up his new role on June 25, after a transition period working with Vallat. WHO IS HE? Marilly, 59, is from France and has more than 30 years of experience working in luxury and cosmetics groups. He is a graduate of the EDC Paris Business School. Having lived and worked internationally, he said in a press release he has a deep attachment to the land in south-west France, where he is from and where the Cognac region is located. CAREER Marilly started his career in the luxury industry as a general manager for a division of the fragrance group Chanel in 1991. He worked for consumer goods giant Unilever between 1994 and 2001, first as managing director of the cosmetics export division then managing cosmetics for Spain and Portugal followed by France and Belgium. Marilly came back to Chanel to be managing director of the Italian and then French market before being promoted to senior vice president of U.S. fashion. In 2010, he returned to Europe to become the continent's managing director for Chanel's fragrance and beauty until 2017. Before joining Remy Cointreau, he was working for Japan's Shiseido as President and CEO and Chairman of the EMEA and global fragrance division. In February, he was also appointed as Foreign Trade Adviser of France. WHAT'S THE PLAN? Marilly will have to lead the French cognac maker through a period of sales decline and tariff threats in its key U.S. and Chinese markets. "We are convinced that he will bring a new dynamic and will be able to confidently address the new challenges of the Group's growth in a complex macroeconomic and geopolitical context," Chairwoman of the Board of Directors Marie-Amélie de Leusse said in a press release. Remy makes some 70% of its sales from cognac, mostly in the U.S. and China, but right now, drinkers in those nations are not buying the brandy and sales have fallen.
Bloomberg
7 days ago
- Business
- Bloomberg
Remy Cointreau Names Marilly as New CEO After Vallat Resignation
Remy Cointreau SA appointed Franck Marilly to replace outgoing Chief Executive Officer Eric Vallat, after the latter said in April that he would step down. Marilly will start on June 25, the Paris-listed group said in a statement Wednesday.
Wall Street Journal
28-05-2025
- Business
- Wall Street Journal
Remy Cointreau Names Franck Marilly as CEO
Remy Cointreau RCO 0.25%increase; green up pointing triangle said that Franck Marilly will take over as chief executive officer in late June. The French cognac maker said Wednesday that Marilly will succeed Eric Vallat on June 25. Marilly—who was appointed Foreign Trade Advisor of France in February—will continue to implement the group's value strategy while working to innovate its products, the company said.
