Push Admin

Cognac sales jump 31 percent as drinkers go upmarket

Article (news)

Reuters

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="A bottle of Remy Martin LOUIS XIII cognac is displayed at the Remy Cointreau SA headquarters in Paris, France, January 21, 2019. Benoit Tessier, Reuters/File Photo" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/reuters/01/18/20220117-france-cognac.jpg"/><figcaption>A bottle of Remy Martin LOUIS XIII cognac is displayed at the Remy Cointreau SA headquarters in Paris, France, January 21, 2019. <em>Benoit Tessier, Reuters/File Photo</em></figcaption></figure></div><p>PARIS - Cognac sales surged by a nearly a third last year as American and Chinese drinkers guzzled old vintages, in the latest sign premium drinks makers are putting the pandemic behind them.</p><p>Sales of the brandy, produced in the Cognac region of France, rose by almost 31 percent in value to 3.6 billion euros ($4.1 billion), industry group BNIC said on Monday.</p><p>Volumes were up 16 percent to 223.2 million bottles.</p><p>&quot;This growth reflects a real recovery of cognac, as well as new consumption habits,&quot; BNIC said in a statement, noting sales had also risen compared with 2019, before the pandemic struck.</p><p>The outlook should remain positive in the coming months for all destinations, BNIC added.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/11/22/10/lucio-tan-led-tanduay-sees-cut-profits-due-fire">Lucio Tan-led Tanduay sees cut in profits due to fire</a></li>	<li><a href="https://news.abs-cbn.com/life/05/30/21/this-limited-edition-single-malt-targets-drinkers-who-know-whisky">This limited edition single malt targets drinkers who know whisky</a></li></ul><p>The news comes after France&#x27;s champagne industry said last month it expected record sales in 2021, and follows strong results from several spirits companies.</p><p>Cognac sales to its largest market, the United States, climbed 11 percent, with 115 million bottles shipped in 2021.</p><p>Sales to China, its second biggest, leapt 56 percent with 34 million bottles shipped, while European sales were up 8 percent to reach 37.1 million bottles.</p><p>In late November, spirits group Remy Cointreau raised its full-year profit forecast after a better-than-expected first half, driven by strong demand for its premium cognac in China, the United States and Europe.</p><p>Pernod Ricard, which owns Martell cognac, also pointed to a jump in sales in China.</p><p>The 2021 harvest, at 867,312 hectolitres, was within the 10-year average and should support further growth for the sector, BNIC said.</p><div><strong>FROM OUR ARCHIVES: </strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/LwDHOid2lF0?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

Cognac sales surged by a nearly a third last year as American and Chinese drinkers guzzled old vintages, in the latest sign premium drinks makers are putting the pandemic behind them.