Rémy Cointreau Reports 18% Sales Drop for FY2024-25 Amid Global Headwinds

FRANCE – French spirits company Rémy Cointreau has posted an 18% drop in organic sales for its 2024-25 financial year, with revenue falling to €984.6 million (US$1.12 billion). 

The group’s performance matched its previous forecast of a full-year decline of up to 18%. However, fourth quarter (Q4) sales fell by 19%, exceeding analysts’ expectations for the period. 

In regional performance, the Americas recorded a 20.2% decline for the full year, attributed to continued destocking through the first nine months in a market affected by reduced consumer demand.  

The company noted, however, that the region saw a “steep recovery” in Q4, particularly in the US, where Rémy Martin VSOP benefited from the company’s action plan. 

Sales in the Asia-Pacific (APAC) region declined by 18.2%, largely due to complex market dynamics in China. The company highlighted the impact of duty-free disruptions and calendar shifts related to the Chinese New Year.  

Despite these challenges, Rémy Martin achieved slight growth in depletions during the New Year period and maintained its market share. 

The Europe, Middle East and Africa (EMEA) region recorded a sales decline of 13.8%. The firm cited its strategic decision to optimize distributor inventory levels ahead of the 2025-26 financial year to position itself more favourably. 

The group’s Cognac portfolio, led by Rémy Martin, generated €611.8 million (US$695.4 million) in sales, down 21.9% compared to the previous year. Q4 sales for the portfolio dropped by 32.8%. 

Rémy Cointreau also reported continued progress in its Liqueurs & Spirits portfolio, which declined 9.1% for the full year but rose by 16.1% in Q4. The Americas contributed significantly to this growth, with strong sales of brands such as Cointreau, St Rémy, Mount Gay, and The Botanist.  

APAC also recorded strong gains in the category, with notable performance in China and Japan. EMEA saw a moderate decline. 

The company reiterated its long-term ambition to return to a growth trajectory by 2029-30. It also acknowledged the extension of the Chinese Ministry of Commerce’s investigation into potential tariffs, indicating that if duties are confirmed, a mitigation plan will be implemented in the 2025-26 financial year.  

The company announced A new €50 million (US$56.6 million) cost-saving plan, aiming for gradual improvements to its operating margin. 

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