Total sales reached €1.09 billion (US$1.17bn), with Rémy Cointreau’s own brand portfolio contributing 6.7% reported growth. Sales were pegged back by -13.9% declines from the partner brands division following the end of distribution contracts for the firm’s Champagne brands.

The results follow a strong 2015/16 year when sales increased 8.9% to reach €1.05bn (US$1.19bn).

Geographically the group reported a “clear acceleration” across Asia Pacific, particularly in Greater China and Australia, and an “excellent” performance in the US and Canada.

Europe, the Middle East, and Africa saw “contrasted” sales, however, Russia, Central Europe, the UK and South Africa put in a “strong” year.

Cognac leads

Rémy Martin was the star performer, posting 9.2% reported sales gains, echoing the gains made by the wider Cognac category.

Growth was driven by Asia and the US, in particular, a “sharp acceleration” in private consumption in China and “some improvement” in travel retail. The Russia market returned to “solid” growth.

Following the brand’s decision to scrap the VS age statement, volumes increased 4.5%, while mix and price effects added 5.5% growth. Key initiatives pushing the growth include the launch of Louis XIII Le Mathusalem and the Louis XIII store in Beijing, the company notes.

performance was more mixed for the Liqueurs & Spirits division, which was negatively impacted by the Passoa JV deal with Lucas Bols, struck in December 2016.

Excluding the deal, sales for the division, which includes Cointreau liqueur, Metaxa spirit, Mount Gay rum, St-Rémy brandy, Bruichladdich Scotch whiskey and The Botanist gin, climbed 4%.

Read More at Source: The spirits business