Rémy Cointreau: Sales up +5.7%1
Cognac: +1.3% on an organic basis
Very steep rise in sales in the United States driven by a very favorable basis for comparison
Limited decline in sales in China: tough market conditions and inaccessibility of Chinese duty-free markets; sales up slightly excluding duty-free.
Liqueurs & Spirits: +17.3% on an organic basis
Strong rise in sales in the United States, underpinned by Cointreau and The Botanist
Renewed growth in EMEA2 driven by Cointreau, Metaxa and Mount Gay
2025-26 organic COP target raised:
Return to mid-single-digit sales growth on an organic basis (unchanged)
Organic COP: mid-to-high-single-digits decline (vs. mid-to-high-teens decline previously)
PARIS, July 25, 2025--(BUSINESS WIRE)--Regulatory News:
Rémy Cointreau (Paris:RCO) reported sales of €220.8 million in the first quarter of 2025-26, up +5.7% on an organic basis. On a reported basis, the rise was +1.8%, including a negative currency effect of -4.0% due primarily to trends in the dollar and the renminbi.
Sales in the Americas rose by double digits, reflecting the very favorable basis of comparison. Sales in the APAC region edged down, as expected, hit by complex market conditions in China and the inaccessibility of Chinese duty-free markets. Lastly, the EMEA region recorded a fall in sales that mainly reflected fierce competitive pressures and sluggish demand for the Cognac division. By contrast, Liqueurs & Spirits were boosted by good momentum in the run-up to summer.
Breakdown of sales by division
€m
Q1 2025-26
Q1 2024-25
Change asreported
Organic change
(April-June 2025)
vs. Q1 2024-25
vs. Q1 2019-203
Cognac
131.3
135.5
-3.1%
+1.3%
-16.4%
Liqueurs & Spiritueux
86.2
75.8
+13.6%
+17.3%
+58.4%
Subtotal: Group Brands
217.5
211.3
+2.9%
+7.0%
+2.6%
Partner Brands
3.3
5.7
-41.6%
-41.7%
-49.2%
Total
220.8
217.0
+1.8%
+5.7%
+1.1%
Cognac
Cognac division sales rose +1.3% on an organic basis in the first quarter.
As expected, this growth was driven primarily by the steep rise in sales in the Americas, particularly the United States. Sales benefited from a highly favorable comparison base.
By contrast, the APAC region experienced a slight decline in sales, impacted by tough market conditions in China, especially in the high-end segment, and the inaccessibility of Chinese duty-free markets. This performance nonetheless reflected relatively good resilience, with modest growth excluding duty free, thanks to the outperformance of Rémy Martin CLUB and strong momentum in e-commerce, fueled by numerous activations during the 6/18 Festival.
Lastly, the EMEA region recorded a sharp drop in sales, reflecting continued pressure from aggressive promotional activity and consumer caution in an uncertain economic environment.
Liqueurs & Spirits
Sales reported by the Liqueurs & Spirits division rose by +17.3% in organic terms in the first quarter.
The Americas region, especially the United States, delivered significant growth, supported by a very favorable basis for comparison and the outperformance of Cointreau and The Botanist. During the quarter, Cointreau unveiled its new satirical campaign Any Tequila, starring Aubrey Plaza and spotlighting the Margarita, the top-selling cocktail in the United States. Simultaneously, The Botanist unveiled its new global campaign, All we need is now, which reflected a marked shift in the brand's identity.
Sales in the EMEA region were boosted by good momentum for Cointreau, Metaxa and Mount Gay. During the quarter, Metaxa launched its first two ready-to-drink ranges in cans. The launch was accompanied by a new marketing campaign called Get your cocktails ON. At the same time, Telmont rounded out its range of organic wines by creating its Réserve de la Terre—Rosé cuvée, crafted exclusively with organically grown grapes. The move marked another milestone in the brand's transition to fully organic and regenerative viticulture.
Finally, the APAC region also reported strong growth, driven by excellent results in China and the rest of Asia (Cointreau and Bruichladdich).
Partner Brands
Sales of Partner Brands declined by -41.7% on an organic basis in the first quarter.
2025-26 organic COP target raised
In full-year 2025-26, Rémy Cointreau expects sales to return to mid-single-digit growth on an organic basis, driven primarily by a strong technical rebound in sales to the United States.
Due to expected phasing effects in the APAC (mainly China) and the Americas (United States) regions, the Group anticipates a return to organic growth in the second half of the year.
In addition, Rémy Cointreau has updated its assumptions regarding potential increases in customs tariffs following the minimum-price agreement signed with the Chinese authorities and the latest statements by the US president.
The Group now anticipates a maximum total net impact of €45 million4 (vs. €65 million previously), broken down as follows:
€10 million in China (vs. €40 million previously)
€35 million in the United States (vs. €25 million previously)
As revised estimates of the impact of customs duties are less than anticipated, the Group has opted to reallocate part of its investments, particularly in China.
Taking these new assumptions into account, the Group now anticipates an organic decline in COP of mid-to-high-single-digits (vs. a decline of mid-to-high-teens previously).
In a particularly volatile environment and based on its current scenario, the Group anticipates the following adverse currency effects over the full year:
On Sales: between -€50 million and -€60 million (vs. -€30 million and -€35 million previously)
On Current Operating Profit: between -€15 million and -€20 million (vs. -€10 million and -€15 million previously)
RC Ventures acquires a minority stake in JNPR, a French pioneer in non-alcoholic spirits
Rémy Cointreau Corporate Ventures, the venture fund launched by Rémy Cointreau in 2024, has acquired a minority stake in JNPR, an innovative French brand specializing in non-alcoholic spirits.
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.
Founded in 2020 by Valérie de Sutter, JNPR quickly established itself as a leading brand thanks to its wide range of non-alcoholic spirits — in particular the JNPR collection, featuring distilled recipes with no sugar. Its products are crafted in France from high-quality ingredients, especially juniper berries, the signature ingredient of gin and the hallmark of this collection.
With this investment, JNPR will be able to accelerate its development in France and in select international markets. Under the terms of the agreement, Rémy Cointreau Corporate Ventures will contribute operational expertise in distribution and marketing, while fully preserving the creative and entrepreneurial independence of the founder and her teams.
This transaction is also grounded in shared values including innovation, quality, environmental stewardship, and a commitment to responsible consumption.
It was finalized on July 24, 2025.
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.
A conference call with investors and analysts will be held today by CFO Luca Marotta, from 9:00 am (Paris time).
Related slides will also be available on the website (www.remy-cointreau.com) in the Finance section.
Appendices
Q1 2025-26 sales (April-June 2025)
€m
Reported
Forex
Scope 25-
Organic
Reported
Reported
Organic
25-26
25-26
26
25-26
24-25
change
Change
A
B
C
A/C-1
B/C-1
Cognac
131.3
-5.9
-
137.2
135.5
-3.1%
+1.3%
Liqueurs & Spirits
86.2
-2.7
-
88.9
75.8
+13.6%
+17.3%
Subtotal: Group Brands
217.5
-8.7
-
226.1
211.3
+2.9%
+7.0%
Partner Brands
3.3
-
-
3.3
5.7
-41.6%
-41.7%
Total
220.8
-8.7
-
229.5
217.0
+1.8%
+5.7%
Regulated information in connection with this press release can be found at www.remy-cointreau.com
Definitions of alternative performance indicators
Rémy Cointreau's management process is based on the following alternative performance indicators, selected for planning and reporting purposes. The Group's management considers that these indicators provide users of the financial statements with useful additional information to help them understand its performance. These indicators should be considered as supplementing those including in the consolidated financial statements and resulting movements.
Organic sales growth:
Organic growth excludes the impact of exchange rate fluctuations, acquisitions and disposals.
The impact of exchange rate fluctuations is calculated by converting sales for the current financial year using average exchange rates from the prior financial year.
For current-year acquisitions, sales of acquired entities are not included in organic growth calculations. For prior-year acquisitions, sales of acquired entities are included in the previous financial year but are only included in current-year organic growth with effect from the actual date of acquisition.
For significant disposals, data is post-application of IFRS 5 (which reclassifies entities disposed of under "Net earnings from discontinued operations" for the current and prior financial year). It thus focuses on Group performance common to both financial years, over which local management has more direct influence.
1 All references to "on an organic basis" in this press release refer to sales growth at constant exchange rates and scope of consolidation2 Europe, Middle East and Africa3 At constant exchange rates (2024-25 rates)4 These estimates are calculated based on the following assumptions:
An increase in the minimum import price in China as defined in the agreement signed with MOFCOM
Customs duties of 30% on imports from the European Union (vs. 20% previously) and 10% from the UK and Barbados entering the United States. Note that the Group factored in 10% customs duties on all imports to the United States for April-July 2025
View source version on businesswire.com: https://www.businesswire.com/news/home/20250724760664/en/
Contacts
Investor relations: Célia d'Everlange / investor-relations@remy-cointreau.com Media relations: Mélissa Lévine / press@remy-cointreau.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
a few seconds ago
- Yahoo
US, China to launch new talks on tariff truce extension, easing path for Trump-Xi meeting
By David Lawder STOCKHOLM (Reuters) -Top U.S. and Chinese economic officials will resume talks in Stockholm on Monday to try to tackle longstanding economic disputes at the centre of a trade war between the world's top two economies, aiming to extend a truce by three months and keeping sharply higher tariffs at bay. China is facing an August 12 deadline to reach a durable tariff agreement with President Donald Trump's administration, after Beijing and Washington reached preliminary deals in May and June to end weeks of escalating tit-for-tat tariffs and a cut-off of rare earth minerals. Without an agreement, global supply chains could face renewed turmoil from U.S. duties snapping back to triple-digit levels that would amount to a bilateral trade embargo. The Stockholm talks come hot on the heels of Trump's biggest trade deal yet with the European Union on Sunday for a 15% tariff on most EU goods exports to the U.S., including autos. The bloc will also buy $750 billion worth of American energy and make $600 billion worth of U.S. investments in coming years. No similar breakthrough is expected in the U.S.-China talks but trade analysts said that another 90-day extension of a tariff and export control truce struck in mid-May was likely. An extension of that length would prevent further escalation and facilitate planning for a potential meeting between Trump and Chinese President Xi Jinping in late October or early November. A U.S. Treasury spokesperson declined comment on a South China Morning Post report quoting unnamed sources as saying the two sides would refrain from introducing new tariffs or other steps that could escalate the trade war for another 90 days. Trump's administration is poised to impose new sectoral tariffs that will impact China within weeks, including on semiconductors, pharmaceuticals, ship-to-shore cranes and other products. "We're very close to a deal with China. We really sort of made a deal with China, but we'll see how that goes," Trump told reporters on Sunday before European Commission President Ursula von der Leyen struck their tariff deal. DEEPER ISSUES Previous U.S.-China trade talks in Geneva and London in May and June focused on bringing U.S. and Chinese retaliatory tariffs down from triple-digit levels and restoring the flow of rare earth minerals halted by China and Nvidia's H20 AI chips and other goods halted by the United States. So far, the talks have not delved into broader economic issues. They include U.S. complaints that China's state-led, export-driven model is flooding world markets with cheap goods, and Beijing's complaints that U.S. national security export controls on tech goods seek to stunt Chinese growth. "Geneva and London were really just about trying to get the relationship back on track so that they could, at some point, actually negotiate about the issues which animate the disagreement between the countries in the first place," said Scott Kennedy, a China economics expert at the Center for Strategic and International Studies in Washington. "I'd be surprised if there is an early harvest on some of these things but an extension of the ceasefire for another 90 days seems to be the most likely outcome," Kennedy said. U.S. Treasury Secretary Scott Bessent has already flagged a deadline extension and has said he wants China to rebalance its economy away from exports to more domestic consumption -- a decades-long goal for U.S. policymakers. Analysts say the U.S.-China negotiations are far more complex than those with other Asian countries and will require more time. China's grip on the global market for rare earth minerals and magnets, used in everything from military hardware to car windshield wiper motors, has proved to be an effective leverage point on U.S. industries. TRUMP-XI MEETING? In the background of the talks is speculation about a possible meeting between Trump and Xi in late October. Trump has said he will decide soon on a landmark trip to China, and a new flare-up of tariffs and export controls would likely derail planning. Sun Chenghao, a fellow at Tsinghua University's Center for International Security and Strategy in Beijing, said that a Trump-Xi summit would be an opportunity for the U.S. to lower the 20% tariffs on Chinese goods related to fentanyl. In exchange, he said the Chinese side could make good on its 2020 pledge to increase purchases of U.S. farm products and other goods. "The future prospect of the heads of state summit is very beneficial to the negotiations because everyone wants to reach an agreement or pave the way in advance," Sun said. Still, China will likely request a reduction of multi-layered U.S. tariffs totaling 55% on most goods and further easing of U.S. high-tech export controls, analysts said. Beijing has argued that such purchases would help reduce the U.S. trade deficit with China, which reached $295.5 billion in 2024.
San Francisco Chronicle
a minute ago
- San Francisco Chronicle
Hong Kong's CK Hutchison seeks Chinese investor to join Panama Ports deal
HONG KONG (AP) — A Hong Kong conglomerate that's selling ports at the Panama Canal said Monday it may seek a Chinese investor to join a consortium of buyers, a move that could please Beijing but bring more U.S. scrutiny to the geopolitically fraught deal. CK Hutchison Holdings' initial plan to sell port assets in dozens of countries to a group that includes U.S. investment firm BlackRock Inc. pleased President Donald Trump, who has alleged that China interferes with the critical shipping lane's operations in Panama. However, they apparently angered Beijing and drew a review from Chinese anti-monopoly authorities. A Hutchison subsidiary has operated ports at both ends of the Panama Canal since 1997. After months of uncertainty brought by tensions between Washington and Beijing, Hutchison said in a statement that the exclusive negotiations period with the consortium has expired. However, it added 'the Group remains in discussions with members of the consortium with a view to inviting major strategic investor from the PRC to join as a significant member of the consortium,' referring to the People's Republic of China. It said they needed to change the membership of the consortium and the structure of the transaction for the deal to be able to pass reviews by 'all relevant authorities." The awkward position Hutchison found itself in for months highlights the challenges Hong Kong business elites face in navigating Beijing's expectations of national loyalty, especially when relations between China and the United States are strained. Hong Kong has overhauled its electoral system to ensure the city is run by 'patriots.' CK Hutchison is owned by the family of Hong Kong's richest man, Li Ka-shing. It announced March 4 that it would sell all its shares in Hutchison Port Holdings and in Hutchison Port Group Holdings to the consortium that also includes BlackRock subsidiary Global Infrastructure Partners and Terminal Investment Limited, a subsidiary of the Mediterranean Shipping Company. In May, Hutchinson co-managing director, Dominic Lai told shareholders that Terminal Investment was the main investor. Its parent company is led by Italian shipping scion Diego Aponte, whose family reportedly has a longstanding relationship with Li's. The initial deal, valued at nearly $23 billion including $5 billion in debt, would have given the consortium control over 43 ports in 23 countries, including the ports of Balboa and Cristobal, located at either end of the canal. That agreement also required approval from Panama's government.
The Hill
31 minutes ago
- The Hill
Hong Kong's CK Hutchison seeks Chinese investor to join Panama Ports deal
HONG KONG (AP) — A Hong Kong conglomerate that's selling ports at the Panama Canal said Monday it may seek a Chinese investor to join a consortium of buyers, a move that could please Beijing but bring more U.S. scrutiny to the geopolitically fraught deal. CK Hutchison Holdings' initial plan to sell its port assets to a group that includes U.S. investment firm BlackRock Inc. pleased President Donald Trump, who has alleged that China interferes with the critical shipping lane's operations in Panama. However, they apparently angered Beijing and drew a review from Chinese anti-monopoly authorities. A Beijing-backed newspaper posted scathing commentaries about the deal, with one describing it as a betrayal of all Chinese. Beijing's offices overseeing Hong Kong affairs have reposted some of these commentaries, widely seen as an indication of Chinese leaders' stance. A Hutchison subsidiary has operated ports at both ends of the Panama Canal since 1997. After months of uncertainty brought by tensions between Washington and Beijing, Hutchison said in a statement that the exclusive negotiations period with the consortium has expired. However, it added 'the Group remains in discussions with members of the consortium with a view to inviting major strategic investor from the PRC to join as a significant member of the consortium,' referring to the People's Republic of China. It said they needed to change the membership of the consortium and the structure of the transaction for the deal to be able to pass reviews by 'all relevant authorities.' The awkward position Hutchison found itself in for months highlights the challenges Hong Kong business elites face in navigating Beijing's expectations of national loyalty, especially when relations between China and the United States are strained. Hong Kong has overhauled its electoral system to ensure the city is run by 'patriots.' CK Hutchison is owned by the family of Hong Kong's richest man, Li Ka-shing. It announced March 4 that it would sell all its shares in Hutchison Port Holdings and in Hutchison Port Group Holdings to the consortium that also includes BlackRock subsidiary Global Infrastructure Partners and Terminal Investment Limited, a subsidiary of the Mediterranean Shipping Company. In May, Hutchinson co-managing director, Dominic Lai told shareholders that Terminal Investment was the main investor. Its parent company is led by Italian shipping scion Diego Aponte, whose family reportedly has a longstanding relationship with Li's. The initial deal, valued at nearly $23 billion including $5 billion in debt, would have given the consortium control over 43 ports in 23 countries, including the ports of Balboa and Cristobal, located at either end of the canal. That agreement also required approval from Panama's government. The deadline for their exclusive negotiation period ended on July 27.
