Chinese cognac sales declined

The revenue of the French Rémy Cointreau spirits manufacturer declined in the first fiscal quarter that lasted until the end of June. The company explains the decline with the Chinese anti-corruption measures.

The decrease is primarily due to the decrease in cognac sales in China as due to the anti-corruption legislations in China a significant drop occurred in demand for the higher category cognacs that cost 2,500 euros per bottle. (tozsdeforum.hu)