Chinese people buy high-priced cognac Remy Cointreau profit wins expectations

Chinese liquor, such as Maotai, has become a hot commodity in the mainland in recent years. In addition to Maotai, other high-priced spirits have huge demand. Remy Cointreau, a cognac winemaker with famous brands such as Remy Martin and Louis XIII, also benefited from the unexpected results.

Remy Cointreau’s operating profit increased by 14.2% to 264 million euros last year, exceeding market expectations and a special dividend of 1 euro per share was distributed to shareholders.

The company pointed out that the strategy of increasing high-priced spirits was very successful, increasing profit margins and achieving profit targets one year ahead of schedule.

In addition to storming the Chinese market, the company also strengthened its control costs.