Latest news with #RémyCointreau
LeMonde
25-07-2025
- Business
- LeMonde
Cognac drags down LVMH's spirits division
The engine driving cognac sales has yet to regain full speed. LVMH acknowledged it in its half-year results, published Thursday, July 24. Moët Hennessy, its wine and spirits division – of which British company Diageo owns 34% – reported an 8% drop in revenue to €2.58 billion. This marks a further slide after an 11% decline over 2024, to €5.9 billion. The blow was even harsher for recurring operating profit, which fell by one-third to €524 million in the first six months of 2025. The group, led by Bernard Arnault, explained the disappointing performance due to "weak demand for cognac" and "the impact on customers of trade tensions weighing on key markets in the US and China." The US and China accounted for 80% of sales of the prized Charente region spirit, whose leading brand is Hennessy. Across the Atlantic, LVMH – and major competitors such as Pernod Ricard, owner of Martell, or Rémy Cointreau, known for its Rémy Martin brand – were caught off guard. After the post-Covid-19 boom, the wave of inflation disrupted consumer behavior. They suddenly became more cautious about spending just as spirits groups continued to raise their prices. The drop-off was abrupt. Chinese customers also adopted a wait-and-see attitude, troubled by their country's economic slowdown. After trade battles On top of this new consumer mindset, fierce trade battles compounded the problem. Since early 2024, cognac has been ensnared in a conflict between Europe and China. The sector breathed a sigh of relief in early July. Although Beijing decided to impose 32% tariffs on European wine-based spirits, most companies that agreed to set a minimum price – in effect, a price increase ranging from 12% to 16% – were granted exemptions. LVMH benefited from this agreement. Likewise, Rémy Cointreau revised down the impact of Chinese tariffs on Friday, July 25, from €40 million to €10 million. Conversely, the impact in the US would rise from €25 million to €35 million.
Yahoo
25-07-2025
- Business
- Yahoo
Rémy updates tariff guidance in US, China
French spirits major Rémy Cointreau has lowered the net impact it expects to receive from tariffs in China, but increased it in the US. The news was announced in the company's first quarter results alongside an investment in French non-alcoholic spirits business JNPR. In the company's first quarter results for its fiscal 2025-26 period, published today (25 July), the group said it expected total net impact of €10m ($12.9m) from tariffs in China, a cut on the previous €40m forecast. However, for the US, the group said it now expects to see a hit of €35m, which is €10m more than the prior €25m estimate. The improved tariffs guidance in China follows the establishment of a minimum-price agreement between the company and Chinese authorities, the group said. Earlier in July, China's Ministry of Commerce (MOFCOM) confirmed anti-dumping duties were to be imposed on EU brandy imports but some companies will be exempt after agreeing a deal on prices. Pernod Ricard, Rémy Cointreau, and Hennessy were to be exempted, Just Drinks understood at the time. The Mount Gay brand owner added in today's results statement that: "As revised estimates of the impact of customs duties are less than anticipates, the group has opted to reallocate part of its investments, particularly in China." Following the tariffs guidance change, the business said it now expects to see organic decline in current operating profit "of mid-to-high-single-digits", an improvement on the prior expectation of "a decline of mid-to-high-teens". In its first quarter ended in June, Rémy booked €220.8m in total sales, a 1.8% reported and 5.7% organic increase on the year prior. Its Cognac division saw sales decline 3.1% on a reported basis but grow 1.3% organically to €131.3m. Its liqueurs and spirits unit saw sales grow 13.6% on a reported basis and 17.3% organically. In the same results statement, Rémy also announced its investment in a French non-alcoholic spirits brand JNPR. Financial details of the investment, which was made via the group's venture fund Rémy Cointreau Corporate Ventures, were not disclosed. "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," the Bruichladdich whisky producer said. JNPR's portfolio includes an alcohol-free spritz and bitter, as well as a range of sugar-free non-alcoholic bottled spirits. The investment is expected to enable JNPR "to accelerate its development in France and in select international markets", Rémy said, adding that as part of the deal, it's ventures arm would "contribute operational expertise in distribution and marketing". "Rémy updates tariff guidance in US, China" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
17-07-2025
- Business
- Business Wire
Southern Glazer's Wine & Spirits and Rémy Cointreau USA Announce Exclusive Distribution Agreement in California
MIAMI & DALLAS--(BUSINESS WIRE)-- Southern Glazer's Wine & Spirits (Southern Glazer's) – the world's preeminent distributor of beverage alcohol – announced today that it has signed an exclusive distribution agreement with Rémy Cointreau, Inc. in the state of California, effective September 1, 2025. The new exclusive agreement includes distribution of the full Rémy Cointreau portfolio in California, including Rémy Martin, LOUIS XIII, Cointreau, The Botanist, Champagne Telmont and other premium spirits brands. Southern Glazer's announced today that it has signed an exclusive distribution agreement with Rémy Cointreau, Inc. in the state of California, effective September 1, 2025. 'At Rémy Cointreau, we are focused on cultivating strong and strategic partnerships that reflect our values and ambition for sustainable growth,' said Nicolas Beckers, Chief Executive Officer, Rémy Cointreau, Americas. 'We are pleased to welcome Southern Glazer's Wine & Spirits as our new exclusive distribution partner in California, as we continue to serve our valued clients and trade partners in this vital market for our premium portfolio of products. Southern Glazer's has demonstrated a strong ability to execute in the national accounts space, as well as shown sustained commitment to winning in the on-premise channel, which remain major priorities for Rémy Cointreau in California.' Southern Glazer's expert advisors connect suppliers with essential consumer insights, industry expertise, retail access, and dependable logistics—empowering brands to grow faster, smarter, and better. In California alone, Southern Glazer's boasts a dedicated team of more than 1,200 sales resources, including a large group of specialists focused on statewide hotel accounts. These specialists, highly educated in wine and spirits, cover major independent and national hotels, with the local autonomy necessary to secure market share and optimize programming across various revenue sources, such as restaurants, poolside services, in-room dining, banquets, and grab-and-go options. Additionally, Southern Glazer's of California has a dedicated regional on and off-premise account team that calls on over 100 multi-unit buyers. The extensive expertise within the salesforce in California is further highlighted by nearly 1,700 advanced certifications in wine and spirits, ensuring that Rémy Cointreau brands are presented in a way that fosters loyalty and deepens consumer understanding. Southern Glazer's also supports national off-premise chains supported with dedicated vertical headquarters teams and field merchandising teams comprising more than 1,000 merchandisers. With the Company's leading Proof® ecommerce platform and extensive trade relationships in the market, Southern Glazer's is well positioned to help Rémy Cointreau compete smarter and grow stronger in the state. 'We are thrilled to represent the iconic Rémy Cointreau portfolio in the largest beverage alcohol market in the U.S.,' said Wayne E. Chaplin, President and Chief Executive Officer, Southern Glazer's Wine & Spirits. 'We look forward to bringing our unmatched expertise in spirits along with the largest and most highly-trained feet-on-the-street salesforce to our expanded relationship in California.' Southern Glazer's originally expanded into California in 1969 and is the longest-tenured distributor in the market, proudly serving customers for more than 55 years. About Southern Glazer's Wine & Spirits Southern Glazer's Wine & Spirits is the world's preeminent distributor of beverage alcohol, building brands for moments that matter. The multi-generational, family-owned Company has operations in 47 U.S. markets and Canada, as well as brokerage operations through its Southern Glazer's Travel Retail Sales & Export Division in the Caribbean, Central and South America. In 2025, Southern Glazer's was recognized by Newsweek as one of America's Greatest Workplaces for Diversity and America's Greatest Workplaces for Women. Southern Glazer's urges all retail customers and adult consumers to market, sell, serve, and enjoy its products responsibly. For more information visit Follow us on Facebook, X and Instagram @sgwinespirits. About Rémy Cointreau Throughout the world, there are customers looking for exceptional experiences, customers for the diversity of terroirs rhymes with the variety of flavors. Their requirement is commensurate with our customers of our know-how, this know-how which we ensure the transmission, from generation to generation. The time that these customers devote to tasting our products is a tribute to all those who have mobilized to develop them. It is for these men that Rémy Cointreau, a French family group, protects its terroirs, cultivates the exception of multi-centenarian spirits and undertakes to preserve their eternal modernity. The Group's portfolio includes 14 unique brands, including Rémy Martin & Louis XIII cognacs and Cointreau liqueur. Rémy Cointreau has only one ambition: to become the world leader in exceptional spirits, and to do so relies on the commitment and creativity of its 1,856 employees and on its distribution subsidiaries located in the Group's strategic markets. Rémy Cointreau is listed on Euronext Paris.
Forbes
06-07-2025
- Entertainment
- Forbes
Cointreau Bets On Humor And Aubrey Plaza To Cut Through The Tequila Noise
Aubrey Plaza Cointreau ad In a liquor landscape where every celebrity seems to have a tequila brand, Aubrey Plaza and Cointreau are having a bit of fun with the trend. Their new campaign introduces 'Any Tequila'—a brand that doesn't actually exist. Cointreau, the French orange liqueur that's been a staple in Margaritas for decades, partnered with Plaza to poke fun at the tequila gold rush while reminding drinkers that the Margarita's defining ingredient isn't what you might think. According to the brand, while tequila options have multiplied—there are reportedly 30% more tequila brands on shelves today than just three years ago—the one non-negotiable ingredient remains Cointreau. 'We saw this summer as a key opportunity to break through,' Craig Sherman, Vice President of Marketing at Rémy Cointreau Americas told me in a phone interview. 'Leaning into the tequila conversation was kind of natural since we've always been an essential in the Margarita, and this campaign was a tongue-in-cheek way to cut through and remind consumers that it's Cointreau that makes the Margarita.' The Joke Is the Brand Celebrity-owned tequila has exploded over the past decade, with everyone from George Clooney and Kendall Jenner to Dwayne 'The Rock' Johnson and Kevin Hart launching their own brands. In the new ads, Plaza introduces Any Tequila as her latest celebrity-backed product launch. The twist? The brand doesn't exist. It's simply a setup to hammer home the campaign's point: choose whatever tequila you like, but without Cointreau, your Margarita isn't quite right. 'We wanted to build on the last campaign's success and reinforce the MargaRight messaging in a way that felt fresh and culturally relevant,' Sherman said, noting the rise of celebrity spirits as an easy target for satire. Plaza, known for her dry delivery, starred in last year's MargaRight campaign and returns here to keep things weird. 'She really elevates the material. Anything she's in cuts through the noise,' Sherman said. The campaign launched in June across digital, social, streaming, and YouTube. Early feedback, according to Sherman, has been overwhelmingly positive. 'This was quite an ambitious project. It's not your run-of-the-mill ad, and people really appreciate seeing something different delivered in a fun, fresh way,' he said. So what exactly is Cointreau? Aubrey Plaza in Cointreau's 'Any Tequila' campaign First created in 1849 in Angers, France, Cointreau is a clear orange liqueur made from a blend of sweet and bitter orange peels. Technically classified as a triple sec, it has a crisp, bright citrus flavor with a smooth, dry finish that balances and intensifies cocktails without overpowering them. While it's best known as a key ingredient in the Margarita, Cointreau also stars in classics like the Sidecar and Cosmopolitan. The Margarita, Made Right Margarita cocktail with ice, lime and salt rim on a black slate board Behind the humor is a simple message: while tequila brands come and go (and multiply), Cointreau argues that its orange liqueur remains the backbone of the classic Margarita. Margarita Sames, the Dallas socialite credited with inventing the cocktail in 1948, reportedly once said, 'A Margarita without Cointreau is not worth its salt.' And if the campaign has you craving the real thing, here's how to make The Original Margarita at home: Ingredients: Directions: Rim a rocks glass with salt. Combine all ingredients in a shaker with ice and shake vigorously until well chilled. Strain into the prepared glass filled with fresh ice, garnish with a lime wheel, and enjoy. After all, as Plaza's new campaign makes clear, it doesn't matter whose tequila you use—just make sure it's 'MargaRight.'
Business Wire
04-07-2025
- Business
- Business Wire
Price Undertaking Agreement in China for Rémy Cointreau
PARIS--(BUSINESS WIRE)--Regulatory News: As part of the anti-dumping procedure initiated on January 5, 2024, by the Ministry of Commerce of the People's Republic of China (MOFCOM), Rémy Cointreau (Paris:RCO) announces the conclusion of an agreement between the Chinese authorities and certain cognac producers regarding 'Price Undertaking agreement' applicable to imports of grape-based spirits in containers of less than 200 liters originating from the European Union. Under this agreement, certain cognac stakeholders affected by the procedure commit, each according to their own terms, to comply with a minimum import price in China. In return, the 'definitive' anti-dumping duties that were to be imposed on European exports will not be applied (for reference, the official 'provisional' rate was 38.1% for Rémy Cointreau's cognac division since October 11, 2024, in the form of a guarantee-backed deposit, and was reduced to 34.3% in its final version). This agreement in no way constitutes an acknowledgment of dumping practices. While the commercial terms of this agreement are less favorable than those that were in effect prior to the initiation of the investigation, they nonetheless represent a significantly more favorable outcome, or at the very least, a substantially less punitive alternative, compared to the imposition of definitive anti-dumping duties. At this stage, Rémy Cointreau is still awaiting further details regarding the practical arrangements for implementing this agreement, in order to be able to assess the impacts accurately. Thanks to this agreement, these impacts are expected to be far less restrictive than those initially anticipated at the time of the annual results publication on June 4, 2025, and will enable the strengthening of some investments in China. As a result, Rémy Cointreau will update its annual guidance when publishing first-quarter results on July 25. 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.
