The last 12 months saw global cognac sales rise by 5.6 per cent in terms of volume and 9.6 per cent in value.
This equates to 165 million bottles at a value of 2,128 billion euros. These increases continue to be driven by the Far Eastern trade which grew in volume by 18.6 per cent.
When you look at sales of cognac in terms of quality, it’s still apparent that the higher grades are continuing to drive sales. VSOP is up by 8.2 per cent and XO and older by 12.2 per cent.
Thanks to these continuing robust figures, it comes as no surprise that Credit Suisse are tipping drinks giant, Pernod Ricard (owner of Martell Cognac) to outperform its target price of 95 euros. Thanks to their wide exposure in Asia, with sales of cognac in China and whisky in India, they believe that the company has its largest growth potential yet between the years 2012-2014. Credit Suisse has stated that the group has ‘a leadership position in an attractive sector.’
Sources: www.bfmbusiness.com, www.sudouest.fr