French agency Rémy Cointreau has taken a minority stake in alcohol-free producer JNPR Spirits and reported a first-quarter gross sales rise of 5.7%.
The Company Ventures arm of Rémy Cointreau accomplished the funding in JNPR, a French zero-ABV ‘spirits’ model, for an undisclosed sum on 24 July.
The transaction marks Rémy Cointreau’s first transfer into the alcohol-free class.
The deal is a part of the group’s technique of ‘anticipating and testing rising consumption tendencies’, such because the fast-growing demand for non-alcoholic options.
Based in 2020 by Valérie de Sutter, JNPR will be capable of speed up its growth in France and international markets with Rémy’s backing.
Rémy Cointreau will present distribution and advertising experience to JNPR, whereas its founder and crew will keep inventive management and independence.
JNPR takes its title from the juniper berry, a key ingredient within the model’s vary.
The funding was introduced similtaneously the group’s monetary outcomes for the primary quarter (Q1), which covers April to June 2025.
Q1 gross sales rose by 5.7% to €220.8 million (US$258.7m), led by a double-digit enhance for spirits and liqueurs (up by 17.3% to €86.2m).
The Q1 outcomes adopted a full-year gross sales decline of 18% to €984.6m (US$1.12 billion).
When it comes to areas, Q1 gross sales within the Americas rose by double digits, whereas Asia Pacific was down as a consequence of ‘complicated market situations’ in China and the nation’s responsibility free market.
The Europe, Center East and Africa (EMEA) area recorded a lower due to ‘fierce aggressive pressures’ and ‘sluggish’ Cognac demand.
The Americas area, particularly the US, delivered ‘vital’ positive aspects for spirits and liqueurs. Throughout the area, the agency famous the outperformance of Cointreau liqueur, which lately unveiled a brand new marketing campaign with Aubrey Plaza, and The Botanist gin.
Final week, Rémy Cointreau introduced a distribution cope with Southern Glazer’s in California after Republic Nationwide Distributing Firm’s exit from the market.
Gross sales of spirits and liqueurs in EMEA had been boosted by ‘good momentum’ for Cointreau, Greek brandy Metaxa and Mount Homosexual rum.
Asia Pacific additionally reported robust development for spirits and liqueurs, led by China and the remainder of Asia, Cointreau and Scotch whisky Bruichladdich.
Cognac gross sales up
The proprietor of Rémy Martin noticed Cognac gross sales develop barely by 1.4% to €131.1m (US$153.6m), pushed by a ‘steep rise’ within the Americas, significantly within the US.
The group famous that Cognac’s enhance was additionally as a consequence of a excessive comparability base with the identical quarter within the earlier yr.
Cognac skilled a minor gross sales lower in Asia Pacific as a consequence of ‘powerful market situations’ in China, significantly within the high-end phase, and the inaccessibility of responsibility free.
Gross sales of Cognac in China’s journey retail channel had been considerably impacted by the nation’s anti-dumping investigation into EU brandy imports.
Earlier this month, China concluded the investigation with a number of main Cognac gamers agreeing to a minimal import worth, together with Rémy Cointreau, in return for the elimination of anti-dumping duties.
Rémy Cointreau mentioned in an announcement on the time that the settlement offered a “considerably extra beneficial final result, or on the very least, a considerably much less punitive different, in comparison with the imposition of definitive anti-dumping duties”. It additionally said that the signing of the deal was not an acknowledgement of dumping practices.
Natural gross sales of Rémy Cointreau’s associate manufacturers division plummeted by 41.7% within the first quarter, however no rationalization for the lower was given.
Up to date tariff affect estimate
Final month, Rémy Cointreau withdrew its gross sales targets for 2029-30 as a consequence of uncertainties over US-China tariffs and a scarcity of restoration within the States.
For the 2025-26 full yr, Rémy Cointreau expects natural gross sales to return to mid-single-digit development, pushed primarily by a powerful US rebound.
The group has additionally offered an replace relating to potential will increase in customs tariffs following the minimal worth settlement in China and up to date developments within the US. From 1 August, the US will impose a 30% responsibility on imports from the EU however studies of a possible commerce deal between the 2 nations might result in a decrease tariff fee.
Rémy Cointreau now expects the utmost whole internet affect from these tariffs to be €45m (US$52.7m), decrease than the €65m (US$76.1m) that was beforehand estimated. That is divided by €10m (US$11.7m) in China and €35m (US$41m) within the US, which had been previously €40m and €25m respectively.
Because of this lowered anticipated affect, Rémy Cointreau expects an natural decline in present working revenue of mid to excessive single digits (beforehand mid to excessive teenagers).
Fellow French agency LVMH additionally reported its newest monetary outcomes with first-half spirits gross sales plunging by 15%.
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