Martell : 149 jobs axed
16 octobre 2002
Renault-Bisquit and Martell, which form the cognac branch of the Pernod group under the name of "Martell & Cie", have presented their restructuring plan to the works committees. It includes reductions in personnel but also redeployments. 149 jobs are to disappear and 36 will be created, a net loss of 113 jobs. Martell & Cie currently employ 465 employees (393 at Martell and 72 at Renault-Bisquit). The plan calls for only three of the present nine storage sites to be retained, the regrouping of bottling at the Lignières facility and the construction of a reception site at Chanteloup. The restructuring represents an investment of 11 million euros. Martell was bought by Seagram from the Firino Martell family in 1992 and has been losing market share ever since, dropping from 1.8 to 1.2 million cases sold.

Pineau sales increasing
16 octobre 2002
With 15 million bottles sold, sales of pineau have risen once again by 6.8 % (+5.6 % in France) and almost +10 % in exports (3.5 million bottles) notably in Belgium (3 million bottles alone) and in Canada.

Cognac and perfume
16 octobre 2002
At the head of Cognac Frapin in Segonzac, Béatrice Cointreau is launching 1270, an eau de parfum inspired by the essence of the folle blanche, a grape variety developed by her great-grandfather. The presentation casket of eau de parfum and cognac is available at a price of 379 euros.

Cognac interests investors
9 octobre 2002
A photocopy of a memo about a BNP-Paribas financial analysis which is being circulated in the Cognac region considers that the profitability of the sector remains structurally high and that the sector is attractive for investors, notably for the leading brands Hennessy, Remy-Martin, Martell and Courvoisier. It suggests that the redundancy plan which is part of the Martell restructuring will be greater than expected (-200 jobs). Things should become clearer at the works committee meeting this week.

More good news for cognac
9 octobre 2002
The Champaco Cooperative which brings together the wine growers who supply Remy-Martin is benefiting from the improved state of the Remy-Cointreau group : purchases will increase this year by 6 % to 29,000 hl of pure alcohol compared to 27,300 in 2001. The prices have not risen but the payment period has been improved.

Grape harvest looking good
9 octobre 2002
Thanks to the fine weather in the fall, the grapes have ripened exceptionally well. The yield should be from 120 to 130 hl/ha according to estimates from the cognac research station just as the harvest is starting in the cognac area. The acidity level is high, the pH is low and the sugar content (9 %) is satisfactory for these wines which provide the basis of cognac.

Redundancies at Château-Paulet
9 octobre 2002
The 28 employees of Château Paulet, a pineau and cognac broker (subsidiary of Renault-Cointreau) based in Châteaubernard, have been made redundant for economic reasons. With net results in 2001 of -797,000 euros, Château Paulet could not continue : the business has been relocated and eleven employees have been regraded, according to management.

Hennessy still on the offensive
25 septembre 2002
Hennessy may well take advantage of Martell’s difficult period, which has seen it reduce by half its purchases for 2001 and 2002, to confirm its position as leading buyer and steal some of its best suppliers, unless the new team put in place by Pernod-Ricard chooses to keep them by maintaining its purchase orders, according to a study by the Sud-Ouest newspaper.

LVMH weathers post 9/11
18 septembre 2002
LVMH (Hennessy cognac) has reported a 19% increase in operating income at 840 million euros in the first quarter for a turnover which has risen by 2 % to 5.81 billion, thus benefiting from the measures put in place following 9/11. But the CEO, Bernard Arnault, is worried that a fresh conflict in the Gulf may once again upset duty-free sales.

A vodka plant in cognac country !
18 septembre 2002
H. Mounier is currently constructing a 6,500 square meter plant in Gensac-la-Pallue which will house 3 bottling lines for ... Grey Goose vodka and two warehouses. The Grey Goose brand, which was created five years ago by H. Mounier at the request of the New York distribution company Sidney Frank Importing, is a top quality vodka and leader on the US market. A dozen jobs will be created when the plant is opened.