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FILE IMAGE. A bottle of Remy Martin LOUIS XIII cognac is seen at the headquarters of Remy Cointreau SA, in Paris, France
PARIS, Jan 17 (Archyde.com) – Cognac sales jumped by almost a third last year as American and Chinese consumers dipped into older vintages, the latest sign that high-end drinks makers are leaving behind. the pandemic.
Sales of the brandy, produced in France’s Cognac region, rose nearly 31% in value to 3.6 billion euros ($4.1 billion), industry group BNIC reported on Monday.
Volumes increased 16% to 223.2 million bottles.
“This growth reflects a real recovery of cognac, as well as new consumption habits,” BNIC said in a statement, noting that sales had also increased compared to 2019, before the pandemic.
Prospects should remain positive in the coming months for all destinations, added BNIC.
The news comes following the French champagne industry said last month it expected record sales in 2021, and follows strong results from several spirits companies.
Cognac sales to its biggest market, the United States, were up 11%, with 115 million bottles shipped in 2021.
Sales to China soared 56%, with 34 million bottles shipped, while European sales rose 8% to 37.1 million bottles.
In late November, spirits group Remy Cointreau raised its full-year profit forecast following a better-than-expected first half, buoyed by strong demand for its premium cognac in China, the US and Europe.
Pernod Ricard, which owns Martell cognac, also noted increased sales in China.
The 2021 harvest, of 867,312 hectoliters, was within the average of the last ten years and should favor the growth of the sector, according to BNIC.
(1 dollar = 0.8763 euros)
(Reporting by Sybille de La Hamaide; Editing in Spanish by Ricardo Figueroa)
