MARKETING/DESIGN/CONSUMER TRENDS/INSPIRATIONS Cognac & Brandy News for Consumers & Industry Experts
Luxury Drinks maker Pernod Ricard reported organic growth rates of over 30% in markets such as China and India, as part of its earnings Thursday. (In China, wholesalers have been stocking up on the cognac brand Martell Noblige.)
Organic sales growth in the U.S. was largely flat, with company officials saying they are “cautiously optimistic” that the U.S. is in a gradual recovery. On the bad side, sales in Greece fell 39% during the quarter, “because of the economic situation,” Pernod officials said on their post-earnings conference call.
Pernod drinks rival Remy Cointreau reported somewhat similar findings in their earnings as well, with UBS noting that cognac sales in China are up 11.6% year-over-year. Although the liquor and spirit group’s sales were hampered by tumbling sales of the Greek brandy Metaxa, with sales falling sharply in Greece and Germany. (Perhaps, the thought of drinking Greek spirits doesn’t appeal to the Germans after they were forced to hold their nose and swallow what many there saw as a bailout of Greece?)