April 8 (Reuters) - Remy Cointreau launched a transformation plan on Wednesday in a bid to revive the spirits maker's profitability and growth, which will include a new leadership structure and
Cognac-maker Remy Cointreau launches transformation plan to improve profits
Remy Cointreau Unveils RC Forward Strategy Amid Market Challenges
(Corrects paragraph 7 to remove erroneous reference to investor relations head running new prestige division.)
Transformation Plan Details
April 8 (Reuters) - Remy Cointreau launched a transformation plan on Wednesday in a bid to revive the spirits maker's profitability and growth, which will include a new leadership structure and changes to pricing, distribution and procurement.
Background and Market Context
The French maker of Remy Martin cognac and Cointreau liqueur has been facing a sector-wide downturn and the impact of tariffs in its two biggest markets, the U.S. and China. It said in January it had returned to quarterly sales growth for the first time since 2023.
Its shares are trading near 16-year lows after dropping by more than 82% from their November 2021 peak.
CEO Statement and Strategic Objectives
"After three years marked by a complex environment, it is time for Remy Cointreau to stand out within its industry," group CEO Franck Marilly said in a statement.
The plan, labelled RC Forward, aims to hedge against macroeconomic cycles through stronger distribution networks, revenue management, optimisation of investments and procurement, and a leaner organisation, the company said.
Reporting and Timeline
Remy said it would report initial progress and more details on the three-year plan alongside its annual results in June, with new medium-term targets set to be announced in November.
Leadership Changes and New Divisions
As part of the plan, the group has set up a steering committee within its executive board. It appointed finance chief Luca Marotta as deputy CEO and head of investor relations Celia d'Everlange as chief transformation officer. A new division will oversee prestige brands Louis XIII, Telmont and Maison Psyché.
Market Reaction
Shares of the company rose more than 3% in early Wednesday trading, matching the overall positive market trend.
Reporting Credits
(Reporting by Alessandro Parodi in Gdansk, editing by Milla Nissi-Prussak)
