Rémy Cointreau’s new chief executive plans to reduce the cognac maker’s reliance on China by expanding in growth markets in Latin America, the Middle East and India, as the drinks group strives to break out from a grinding downturn.
Franck Marilly told the FT that Rémy, which made 40 per cent of its €984.6mn annual revenue in the Asia-Pacific region last year, needs to rebalance its portfolio away from China, where sales have been declining for almost three years.
“We must reduce dependence in absolute terms by growing across other geographies,” Marilly said in his first interview since starting in the role last June. “The LatAm market requires a lot of focus, as does the Middle East, as does India.”
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