PRN: Western Europe Key to Driving Cognac Trends in Emerging Markets - Remy Martin CEO
Western Europe Key to Driving Cognac Trends in Emerging Markets - Remy Martin CEO
BROMSGROVE, England, July 30, 2012 /PRNewswire/ --
- The head of Remy Cointreau's Cognac division has highlighted the importance of the troubled markets of Western Europe to leading spirits trends in markets such as China.
Speaking exclusively to just-drinks earlier this year, the CEO of Remy Martin, Patrick Piana, conceded that the division "probably hasn't done enough" in Western Europe, but noted that "we have to be strong here if we're going to be strong elsewhere."
"The world is getting smaller," Piana told just-drinks in an exclusive, two-part interview. "The 25- to 30-year-old consumers of today are much more in touch with the 25- to 30-year-old consumers around the world. What is happening in the cocktail culture, in cities like London, influences many other parts of the world."
Remy Martin has been performing particularly well in the emerging markets of Asia in recent years. "Greater Asia - that's not only China - accounts for 50% of our (Remy Martin's) business," Piana told just-drinks. "The Americas accounts for 30% and Europe is 20%. So, yes, Asia is important."
However, Piana maintained that Remy Cointreau, as a whole, is "more balanced, with Europe, Asia and The Americas each accounting for a third of the group's business."
Elsewhere in the two-part interview, Piana discusses Remy Cointreau's change in priority - or lack of - since it divested its Champagne business a year ago, the importance of targeting volume over value in Cognac, and where he expects the 'next big thing' to hit in the Cognac category.
To read the full interview, click here.
Established in 1999, just-drinks is a leading online resource for the global beverage industry, publishing around 20 news articles, analysis features and insights every working day. Under the direction of managing editor Olly Wehring, its experienced team of journalists, consultants and analysts provide a unique and comprehensive blend of reports and interpretation of the beverage industry, including key events, trends, interviews and research that is delivered to over 92,000 business executives per month.
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