Rémy Cointreau SA (EPA: RCO) reports organic net revenue decline of more than 3.0% year-on-year in H1 FY2026/27 results (July–December 2026, published approx. November 2026, confirmed by Rémy Cointreau press release or Bloomberg)
Rémy Cointreau is disproportionately exposed to the Chinese luxury goods downturn through its core brand Rémy Martin (cognac). The Chinese cognac market has shown structural weakness (-25%+ in volume 2024–2026), worsened by anti-extravagance campaigns and economic cooling. FY2025/26 already posted double-digit organic declines. US tariffs on French spirits (10–25%) are weighing on the second-largest market. The entire premium spirits sector is under structural pressure (Diageo, Pernod Ricard, and Brown-Forman also facing declines per open predictions). Base effects are insufficient for a recovery given persistently weak China volumes.
65%