Remy Cointreau brewing growth in Chinese market

China has further expanded its consumption of spirits like whiskey and cognac, fuelled by growing demand from a younger generation along with female consumers and from more home-based consumption scenarios, says French spirits group Remy Cointreau.

Besides traditional sales channels such as restaurants, bars and clubs, increasingly sophisticated Chinese consumers have explored new ways of drinking at home or during outdoor picnics and “glamping” – a combination of the words glamour and camping – said Sophie Phe, CEO of Remy Cointreau China.

In its fiscal year of 2021 to 2022, global sales of the cognac division of Remy Cointreau grew by 26.3% year-on-year, thanks to a growing contribution from high-end and exceptional products, including sales growth from Remy Martin Club cognac in China, one of its largest markets.

“Remy Cointreau is very confident about the growth in China, and Chinese consumers are becoming more sophisticated at a personal level.

“Young consumers have access to Western spirits earlier than their previous generations, and some may be influenced by their experiences abroad,” she said.

Single malt whiskey has attracted the attention of more female consumers than before, who have also shown a higher-quality demand for cocktails.

According to market research company Euromonitor International, by 2025, whiskey sales in China are expected to achieve Us$2.25bil (Rm10bil). — China Daily/ann