Slower Cognac Sales Slam Remy Cointreau
The company said that the economic slump, especially in the U.S. and Russia was to blame for the decline. So far the company's stock has lost 33 percent of its value in 2009 and had a 39.5 percent decline in 2008.
Remy Cointreau has decided to act as its own distributor instead of relying on the distribution network Maxxium. An article in Forbes declares that this may be a risky move for the small collection of brands especially since it pitches mainly to the premium market whereas larger companies like Pernod Ricard and Diageo have a wider range of brands.