The French spirits firm Rémy Cointreau is showing signs that it is recovering from the crackdown on bribery in China that affected its sales last year.
Second-quarter sales fell 3.2 per cent to €277m (£205m) against a 9 per cent decline in the first three months of the financial year, with China showing “gradual improvement”.
The company, which uses Laetitia Casta, the French actress and former Victoria Secret's Angel, to push Cointreau, said it expects the improving trends across most of its business to continue and even strengthen in the second half. The UK also returned to growth with healthy sales of Rémy Martin and Mount Gay rum. But a decline in Russian tourism hit sales of Rémy, Cointreau and Metaxa in duty free, Greece and Russia.
Cointreau sales benefited from the launch of Cointreau Blood Orange, which is exclusive to duty free shops while the specialist Islay spirits, Bruichladdich bourbon and The Botanist gin showed double-digit sales growth.
