Rémy Cointreau’s sales have shown ‘remarkable performance’ over the first half of 2022-2023, according to the French company. Sales rose 21.1%, powered by strong growth across many of the firm’s major brands.
Recorded sales grew to $868.9 million over the six months ending in September 2022. This includes a 9.7% in sales volumes across the last six months. The Americas generated 21.1% of the growth.
One of the biggest hits in the Rémy Cointreau portfolio? Cognac. The Cognac division grew 22.4% over the first quarter, with the majority of growth coming from the United States. Rémy Martin CLUB showed particularly strong growth.
As the firm tries to boost Cognac’s presence in the US, they embarked on marketing activations such as collaborations with Usher and a new NFT — it sold out within two seconds on BlockBar.com.
LVMH has also noted strong growth in their Cognac categories. Over the last nine months, Cognac (largely propelled by Hennessy) sales grew 16% for the French luxury brand. LVMH noted the growth was driven by “consistent strategy of value creation.”
Looking to other categories in the Rémy Cointreau portfolio, tequila saw the biggest gains (75% annual growth rate) in the US market followed by American Whiskey and Cognac at 46% and 31%. Tequila sales in North America have been steadily increasing from 2002 until 2016, when sales reached a record high of $22.3 billion.
The liqueur and spirits section of the firm soared by 20.7%, largely led by Bruichladdich Scotch and Cointreau liqueur. (Cointreau is one of the core ingredients in a margarita, currently the most popular cocktail in the United States. “Margaritas are the most popular cocktail in the United States,” says Liz Paquette, Drizly’s head of consumer insights, earlier this year. “Across the board, sales on Drizly have reflected this trend, both in ingredients to mix the cocktail at home as well as in ready-to-drink format.” )
Looking towards H2, the group hopes consumption will settle in at “new normal” levels.
Comparing to other major companies, spirits sales were up across the board. Campari Group posted a strong performance in the first half of 2022 — net sales grew 25.6% and organic growth grew 19.2%. Brands under the Campari Group portfolio includes Wild Turkey, Aperol, Campari, and Grand Marnier. Grand Marnier, a Cognac made with bitter orange, saw a decline in growth, though largely due to glass shortages.