Although the news is full of doom and gloom throughout Europe right now, it seems that Remy Cointreau has certainly found the right formula to ride out these turbulent times.
Not only are the sales of Remy Martin Cognac in Asia fuelling its substantial profits, but following the sale of its champagne division earlier in the year, the company is now actively looking to increase its portfolio. They have a budget of up to 800 million euros to spend on one or two brands that will compliment it’s portfolio of Cointreau, Mount Gay Rum and Remy Martin Cognac. They are looking for something along the lines of whisky, premium liqueurs or even a Chinese Baiju alcohol.
The strong first half-year sales have seen the company’s shares rise by three per cent, and the company predicts ‘substantial’ year end profits.
Sources: www.reuters.com
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