Rémy Cointreau enters the perfume market at €5,500 per bottle



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Rémy Cointreau enters the perfume market at €5,500 per bottle

French Rèmy Cointreau, one of the legendary producers of alcoholic beverages, has announced its entry into the perfume market. Luxury fragrances are now a new production branch of the company whose revenues are around 5 billion dollars a year.

The name of the perfume creation will be Maison Psyche, and the price per bottle is higher than 5,000 dollars. "The new business could be “potentially strategic,” " noted CEO Eric Vallat. "We have real ambition.

If this project works, others will follow," said Vallat, noting he sees the label as "a natural extension" of Rémy Cointreau's activities. he added. The perfume, co-created by Rèmy Cointreau's master cellarer and Firmenich group's chief perfumer, will be aged in oak barrels in the same region where the company produces its $3,000-a-bottle cognac.

Of course, everything is in the style of alcoholic beverages, but also luxury. The fragrance will be filled in crystal Baccarat bottles decorated with gold and diamonds in a limited and numbered edition. Each bottle will have its own unique number.

This is just a continuation of what has been happening for some time, namely changes in the world of luxury fragrances.

Cognac Sales Jump 31% As Drinkers Go Upmarket

On Monday, BNIC reported that sales of the brandy, which is produced in the Cognac region of France, rose by almost 31%, totaling €3.6 billion ($4.1 billion), an increase of almost 31%.

In terms of volumes, 223.2 million bottles were sold, an increase of 16%. 'This growth reflects a real recovery of cognac, as well as new consumption habits,' BNIC said in a statement, noting sales had also risen compared with 2019, before the pandemic struck.

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In the cognac division of Rémy Martin, which accounts for 90% of the group's profits, sales grew 19.4% in September to €332.7 million, which was also higher than analysts' estimates of €317.7 million.