After one year at half mast (like all the high-end Cognac producers), the trading house Courvoisier presents a double-digit growth since the beginning of the year.
Patrick Pinet, President and CEO of the house Courvoisier, was happy to present the worldwide No. 4 result: With 1.2 million cases (12 x 0,7l) shipped worldwide.
The company employs 171 people in Jarnac. It sells at 65% VS quality Cognacs, 25% VSOP and 10% superior qualities (XO etc.).
It wasn’t really a surprise for the “American colleagues”. One consequence of the crisis was that consumers purchased cheaper Cognacs. So, Salignac sold more than 100,000 boxes which is 8% of volumes sold by the house in Jarnac.
The revival of the VS and VSOP is good for the entire region of Charente. As it is heavily used in mixdrinks, VS sells well in markets like the US.
Britain is a country where Courvoisier is marketleader: There was an aggressive marketing offensive by the distributor Maxxium. More than 300 000 cases of Courvoisier Cognac are being sold each year. Britain is the second largest market for Courvoisier behind the United States.
“The brand does well in this market” adds Patrice Pinet, who remembers that the pound was devalued by 25% in two years versus the euro. The current currency situation has an impact on things.
“We want to develop new styles of consumption, in particular for cocktails. The goal is to reach a young target group to market VSOP Exclusif. Asia, where Courvoisier intends to play a role since it is no longer linked to the network that distributed Remy Martin, is a clear market. “2009 was a complicated year, as we needed some time restructuring the distribution network. “
In the first four months of the year, Couvoisier experiences a strong growth, and it looks better than 2009.