Rémy Cointreau has posted its third-quarter sales at the Cognac division were down -11.0%. The French spirits maker told Reuters this week that reduced Cognac consumption in the US was stemmed by shipments to China ahead of the Lunar New Year celebrations.

Rémy Cointreau reported revenues of €437.6 million (US$475.6 million) for the three months through December as well as an organic drop of 6% from a year earlier, which was still ahead of analysts’ predicted €433.3 million.

Sales at its Rémy Martin Cognac division dropped 11% in the quarter largely due to the slowdown of Cognac sales in the US.

In APAC, the Chinese market continued to bounce back. Despite disruptions triggered by unprecedented levels of Covid, the Group successfully generated robust sales growth ahead of the Chinese New Year and in anticipation of a full recovery in business. In particular, Rémy Martin saw strong e-commerce sales during the Double-Eleven and Super Brand Day events on the T-Mall platform. Meanwhile, Louis XIII opened a sixth boutique in China at Chengdu's prestigious SKP Mall and renovated its Beijing store to coincide with the launch of The Drop. Lastly, Louis XIII celebrated The Drop's official debut in Singapore with a new pop-up store.