The French family-controlled Rémy Cointreau group boasts a portfolio of exceptional world-renowned spirits: Rémy Martin and LOUIS XIII cognacs, Cointreau liqueur, Greek Metaxa spirit, Mount Gay rum, St-Rémy brandy, The Botanist gin, and the single malt whiskies Bruichladdich, Port Charlotte, Octomore, Westland and Domaine des Hautes Glaces. Two new Maisons recently enriched this portfolio: the Belle de Brillet liqueur and the champagne Maison Telmont.
- Group brands
- Sales by division
- Cognac division
- Liqueurs and spirits division
- Whiskies division
- The partner brands division
The French family-controlled
Rémy Cointreau group boasts
a portfolio of exceptional
world-renowned spirits.
Four Cognac brands share around 82% of the world market by volume and nearly 88% by value*. The Maison Rémy Martin’s market share of cognac shipments for all qualities combined is 14.1% by volume**, up +0.5 point compared to March 2022. Virtually all the shipments of the Maison Rémy Martin are in the superior quality segment (VSOP and XO qualities), which accounts approximately for 50% of the total cognac market***.
Sales at the Cognac division grew +7.6% on an organic basis (+41.3% compared with 2019/20), including a -9.3% decline in volumes and a substantial +16.9% gain from an improved Price-Mix. This strong showing reflects robust growth in the APAC and EMEA regions that offset the slight retreat observed in the Americas, where normalization of consumption and a high basis of comparison were in play.
Current Operating Profit rose +14.7% on an organic basis to total €405.2 million, for a +2.2-points organic rise in Current Operating Margin to 36.8%. The excellent performance reflects a marked rise in gross margin and very good control of overhead costs. At the same time, the Group reported a sharp rise in its marketing and communications spend, notably in China and the United States, where Rémy Martin kicked off a major campaign at the Superbowl.
*Source: IWSR
**Source: BNIC March 2023
***Source: BNIC March 2023
The Liqueurs and Spirits brands operate in a market characterised by a large number of players (of various sizes), with numerous international brands coexisting alongside local brands.
Full-year sales at the Liqueurs and Spirits division were up +18.7% on an organic basis (+54.1% compared with 2019/20), including volume growth of +8.3% and a robust +10.5% increase from the Price-Mix effect, with strong momentum across all regions. All portfolio brands contributed to this remarkable performance, driven by the rising popularity of mixology and investments to boost brand recognition and appeal over the past three years.
Current Operating Profit stood at €48.1 million, up +18.1% on an organic basis. This set Current Operating Margin at 11.5% (stable on an organic basis). As anticipated, trends reflected persistently high marketing and communications outlays to lay the groundwork for tomorrow’s growth, along with a decline in gross margin linked to rising production costs. That decline was partially offset by increased sales prices and reduced overheads.
The Group’s whiskies are all growing in their respective markets and once again have shown tremendous creativity, while continuing to uphold their ethical and environmental values. Bruichladdich presented Islay’s first rye whisky and Woska eau-de-vie from Domaine des Hautes Glaces was voted innovation of the year in France. In the United States, Westland received the award for Best American Single Malt with its new limited edition. Each in their own style, these distilleries are renewing the market for exceptional whiskies by combining terroir and savoir-faire.
In 2022/23, Partner Brands accounted for 2% of the Group’s total sales.
This category includes brands belonging to other operators in the Wines & Spirits sector. These are distributed by Rémy Cointreau under global agreements or agreements limited to a particular country or region. Following the non-renewal of many distribution agreements in recent years (as part of the Group’s policy of moving upmarket), the brands still distributed (as of 31 March 2023) are Passoã liqueur and certain spirits of the William Grant & Sons Group.
Full-year sales of Partner Brands were down -5.3% on an organic basis (+8.5% compared with 2019/20), reflecting a high basis of comparison with the first half of the year, notably in the Benelux. Current Operating Profit stood at €0.1 million in 2022/23, unchanged from 2021/22.
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Asia/Pacific
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Americas
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Europe/Middle-East/Africa
AND CURRENT OPERATING MARGIN (in %)
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Current Operating Profit
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Current Operating Margin
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Asia/Pacific
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Americas
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Europe/Middle-East/Africa
AND CURRENT OPERATING MARGIN (in %)
-
Current Operating Profit
-
Current Operating Margin